R&D Expenditures and Economic Growth Relationship in Turkey
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AbstractIn today's world, globalization has reached to such an extent that, investment in information and technology is inevitable to be integrated with global system and increase competitive power. Therefore, R&D investments are of high importance and priority for growth process of economy. This paper investigates the long-run relationship between R&D expenditure and economic growth using the Johansen co-integration and the vector error correction models. The research findings indicate that there is a unidirectional causal relationship running from economic growth to R&D. the long-run coefficients for the variable R&D is strongly statistically significant and has positive value. The growth rate of GDP will increase 0, 2630% if R&D shares in the GDP increases 1%. Keywords: R&D Expenditures; Economic Growth; Turkey; Co-integration JEL Classifications: F43; O32; O30; O40
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How to Cite
Bozkurt, C. (2014). R&D Expenditures and Economic Growth Relationship in Turkey. International Journal of Economics and Financial Issues, 5(1), 188–198. Retrieved from https://www.econjournals.com/index.php/ijefi/article/view/1038