SavedAdd your journal

Journals / Eskişehir Osmangazi Üniversitesi İktisadi ve İdari Bilimler Dergisi / 2022 / Cilt: 17 Sayı: 3

The Relationship between R&D Expenditures and Economic Growth in BRICS-T Countries

BRICS-T Ülkelerinde Ar-Ge Harcamaları ve Ekonomik Büyüme Arasındaki İlişki

Yüksel Bayraktar(İstanbul Üniversitesi)0000-0002-3499-4571
Necip Dündar(MUŞ ALPARSLAN ÜNİVERSİTESİ)0000-0002-9408-8669
Ayfer Özyılmaz(Kocaeli Üniversitesi)0000-0001-9201-2508
Pages
893–910
Publication Date
2022-12-01
🏛️Bibliographic metadata and full text access for this article are provided via DergiPark.
DergiPark Record ↗
✨

AI Summary & Key Takeaways

AI Insight
⚡ TL;DR(Too Long; Didn't Read)

According to Dumitrescu-Hurlin (2012) causality test, there is a bidirectional causality relationship between R&D expenditures and growth in BRICS-T countries.

📌 3 Key Takeaways

🎯
Objective & Hypothesis:R&D, which is one of the main determinants of technological development, has a critical role in determining the development differences between countries.
📊
Key Findings & Data:The aim of this study is to examine the relationship between R&D expenditures and growth in the period of 2000-2018 in Brazil, Russia, India, China, South Africa, and Turkiye (BRICS-T).
💡
Conclusion & Impact:According to Dumitrescu-Hurlin (2012) causality test, there is a bidirectional causality relationship between R&D expenditures and growth in BRICS-T countries.
🔬Design:Araştırma Makalesi
📍Scope:2000-2018 Verileri
⚙️Variables:Ar-Ge Harcamaları · Büyüme · Panel VAR

Abstract

R&D, which is one of the main determinants of technological development, has a critical role in determining the development differences between countries. The fact that developing countries as well as developed countries start to allocate more funds to R&D expenditures causes the literature on this subject to remain up-to-date. The aim of this study is to examine the relationship between R&D expenditures and growth in the period of 2000-2018 in Brazil, Russia, India, China, South Africa, and Turkiye (BRICS-T). In this context, Dumitrescu-Hurlin’s (2012) causality test, Impulse-Response and Variance Decomposition analyzes are used together with the panel VAR approach. According to Dumitrescu-Hurlin (2012) causality test, there is a bidirectional causality relationship between R&D expenditures and growth in BRICS-T countries.

Özet

Teknolojik gelişmenin temel belirleyicilerinden olan Ar-Ge ülkeler arasında gelişmişlik farklarının belirlenmesinde kritik bir role sahiptir. Gelişmiş ülkelerin yanı sıra gelişmekte olan ülkelerin de Ar-Ge harcamalarına daha fazla fon ayırmaya başlaması, bu konudaki literatürün güncelliğini korumasına yol açmaktadır. Bu çalışmanın amacı, 2000-2018 döneminde Ar-Ge harcamaları ve büyüme arasındaki ilişkiyi Brezilya, Rusya, Hindistan, Çin, Güney Afrika ve Türkiye (BRICS-T) için incelemektir. Bu kapsamda panel VAR yaklaşımıyla birlikte Dumitrescu-Hurlin (2012) nedensellik testi, Etki-Tepki ve Varyans Ayrıştırma analizleri kullanılmıştır. Dumitrescu-Hurlin (2012) nedensellik testine göre BRICS-T ülkelerinde Ar-Ge harcamaları ile büyüme arasında çift yönlü nedensellik ilişkisi vardır.

🔖

Cite This Article

Bayraktar, Y., Dündar, N., Özyılmaz, A. (2022). The Relationship between R&D Expenditures and Economic Growth in BRICS-T Countries. Eskişehir Osmangazi Üniversitesi İktisadi ve İdari Bilimler Dergisi, Cilt: 17 Sayı: 3, 893–910. https://doi.org/10.17153/oguiibf.1151022

📄 Full Text PDF Viewer

📄

PDF görüntüleyici hazırlanıyor...

References (66)

  1. Aggarwal, A. (2001), “Technology Policies and Technological Capabilities in Industry: A Comparative Analysis of India and Korea”, Indian Council for Research on International Economic Relations Working Paper, No. 68.
  2. Aghion, P.; Howitt, P. (1992), “A Model of Growth Through Creative Destruction”, Econometrica, 60(2), 323-351.
  3. Altın, O.; Kaya, A. (2009), “Türkı̇ye’de Ar-Ge Harcamaları ve Ekonomı̇k Büyüme Arasındakı̇ Nedensel İlı̇şkı̇nı̇n Analı̇zı̇”, Ege Akademik Bakış, 9(1), 251-259.
  4. Appiah-Otoo, I.; Song, N. (2021), “The impact of ICT on economic growth-Comparing rich and poor countries”, Telecommunications Policy, 45(2), 102082.
  5. Arond, E.; Bell, M. (2010), “Trends in the Global Distribution”, STEPS Working Paper(39).
  6. Barışık, S.; Kesikoğlu, F. (2006), “Türkiye'de Bütçe Açıklarının Temel Makroekonomik Değişkenler Üzerine Etkisi (1987-2003 VAR, Etki-Tepki Analizi, Varyans Ayrıştırması”, Ankara Üniversitesi SBF Dergisi, 61(4), 59-82.
  7. Barro, R.; Sala-i-Martin, X. (2004), Economic Growth, Second Edition, London, England: The MIT Press.
  8. Bor, Y. J.; Chuang, Y.-C.; Lai, W.-W.; Yang, C.-M. (2010), “A Dynamic General Equilibrium Model for Public R&D İnvestment İn Taiwan”, Economic Modelling, 27(1), 171-183.
  9. Bouvet, F.; Brady, R.; King, S. (2013), “Debt Contagion in Europe: A Panel-Vector Autoregressive(VAR) Analysis”, Social Sciences,(2), 318-340.
  10. Braga de Andrade, R. (2020), “Financing Innovation in Brazil”, The Global Innovation Index 2020, Chapter 10, https://www.wipo.int/edocs/pubdocs/en/wipo_pub_gii_2020.pdf. (Erişim: 14.05.2022).
  11. Breusch, T.; Pagan, A. (1980), “The Lagrange Multiplier Test and Its Applications to Model Specification in Econometrics”, The Review of Economic Studies, 47(1), 239-253.
  12. Canova, F.; Ciccarelli, M. (2013), “Panel Vector Autoregressive Models: A Survey”, ECB Working Paper, (1507), 1-53.
  13. Chen, D.; Zheng, S.; Gou, L. (2015), ” The Impact of Science and Technology Policies on Rapid Economic Development in China”, The Global Innovation Index 2015, Chapter 6, https://www.wipo.int/edocs/pubdocs/en/wipo_pub_gii_2015-chapter6.pdf. (Erişim: 16.05.2022).
  14. De Negri, J. A.; Lemos, L. B.; De Negri, F. (2006), “The Impact of University Enterprise Incentive Program on the Performance and Technological Efforts of Brazilian Industrıal Firms”, OVE Working Paper, WP-13/06.
  15. Dereli, D.D.; Salğar, U. (2019), “Ar-Ge Harcamaları ile Büyüme Arasındaki İlişki: Türkiye Üzerine Bir Değerlendirme”, Journal of Life Economics, 3, 345-360.
  16. Dumitrescu, E.; Hurlin, C. (2012), ”Testing for Granger Non-Causality in Heterogeneous Panels”, Economic Modelling, 29(4), 1450–1460.
  17. Gaillard, J. (2010), ”Measuring Research and Development in Developing Countries: Main Characteristics and Implications for the Frascati Manual”, Science, Technology & Society, 15(1), 77-111.
  18. Genç, M. C.; Atasoy, Y. (2010), “Ar&Ge Harcamaları ve Ekonomı̇k Büyüme İlı̇şkı̇sı̇: Panel Verı̇ Analizi”, The Journal of Knowledge Economy & Knowledge Management, 5(2), 27-34.
  19. Genç, M. C.; Tandoğan, D. (2020), “Türkiye’de AR-GE’nin Ekonomik Büyüme Üzerindeki Etkisi: Fourier Yaklaşımla Kalıntı Temelli Eşbütünleşme Testi”, Manisa Celal Bayar Üniversitesi Sosyal Bilimler Dergisi, 18(2), 339-348.
  20. Godin, B.; Lane, J. (2012), “A Century of Talks on Research: What Happened to Development and Production?”, Int. J. Transitions and Innovation Systems, 2(1), 5-13.
  21. Goel, R.; Ram, R. (1994), “Research and Development Expenditures and Economic Growth: A Cross-Country Study”, Economic Development and Cultural Change, 42(2), 403-411.
  22. Gokhberg, L. (1999), “R&D Statistics in Russia: Changes And Challenges”, Centre For Science Research And Statistics, https://www.ricyt.edu.ar/manuales/doc_view/60-r-d-statistics-in-russia-changes-and-challenges. (Erişim: 15.05.2022).
  23. Gokhberg, L., (1997), Russian Applied Research and Development: Its Problems and Its Promise, (Ed. Gokhberg, L., Peck, M. J., Gacs, J.), Transformation of the Soviet R&D System, Laxenburg, Austria: International Institute for Applied Systems Analysis.
  24. Grossman, G.; Helpman, E. (1991), Innovation and Growth in the Global Economy, London: The MIT Press.
  25. Grossman, G.; Helpman, E. (1994), “Endogenous Innovation in the Theory of Growth”, The Journal of Economic Perspectives, 8(1), 23-44.
  26. Gülmez, A.; Yardımcıoğlu, F. (2012), “OECD Ülkelerinde Ar-Ge Harcamaları ve Ekonomik Büyüme İlişkisi: Panel Eşbütünleşme ve Panel Nedensellik Analizi”, Maliye Dergisi(163), 335-353.
  27. Gyekye, A., Oseifuah, E.; Quarshie, G. V. (2012), “The Impact of Research and Development on Socio-Economic”, Journal of Emerging Trends in Economics and Management Sciences (JETEMS), 3(6), 915-922.
  28. Hall, B. (2006), “Research and Development”, International Encyclopedia of the Social Sciences, https://eml.berkeley.edu/~bhhall/papers/BHH06_IESS_R&D.pdf (Erişim: 14.01.2022).
  29. Hasan, I.; Tucci, C. (2010), “The Innovation–Economic Growth Nexus: Global Evidence”, Research Policy, 39(10), 1264-1276.
  30. IBEF (2022), “Science and R&D Industry Report”, https://www.ibef.org/industry/science-and-technology#. (Erişim: 16.05.2022).
  31. Karagöl, E. T.; Karahan, H. (2014), “Yeni Ekonomi Ar-Ge ve İnovasyon”, SETA, Sayı:82.
  32. Khan, J.; Khattak, N. (2014), “The Significance of Research and Development for Economic Growth: The Case of Pakistan”, MPRA Paper(563005).
  33. Korkmaz, S. (2010), “Türkı̇ye’de Ar‐Ge Yatırımları ve Ekonomı̇k Büyüme Arasındakı̇ İlişkinin Var Modelı̇ ile Analı̇zı̇", Journal of Yasar University, 20(5), 3320‐3330.
  34. Li, P. (2010), “Study on Relationship between R&D Expenditure and Economic Growth of China”, Proceedings of the 7th International Conference on Innovation & Management, 1725-1728.
  35. Lichtenberg, F. (1992), “R&D Investment and International Productivity Differences”, NBER Working Paper (4161).
  36. Lucas, R.E. (1988), “On the Mechanics of Economic Development”, Journal of Monetary Economics, 22, 3-42.
  37. Mamphiswana, R. (2022), “Positioning the South African Economy for New Industries: Policy Lessons from East Asia”, SARChI Industrial Development Working Paper Series, WP 2022-05.
  38. Meçik, O. (2014), “Ar-Ge Harcamalarının Ekonomik Gelişmişlik Üzerindeki Etkileri” Uluslararası Sosyal Araştırmalar Dergisi, 7(32), 669- 674.
  39. Mladenović, S. S.; Cvetanović, S.; Mladenović, I. (2016), “R&D Expenditure and Economic Growth: EU28”, Economic Research-Ekonomska Istraživanja, 29(1), 1005-1020.
  40. Mudronja, G.; Jugović, A.; Škalamera-Alilović, D. (2019), “Research and Development and Economic Growth: EU Port Regions”, Zb. rad. Ekon. fak. Rij., 37 (2), 587-602.
  41. NTSI (2021), “Reviewing the Design, Implementation and Impact of South Africa’s Research and Development Tax Incentive”, National Treasury Science and Innovation (NTSI), http://www.treasury.gov.za/comm_media/press/2021/. (Erişim: 18.05.2022).
  42. Ortega, C. B.; Marín, Á. G. (2011), “R&D and Productivity: A Two Way Avenue?”, World Development, 7(39), 1090-1107.
  43. Pesaran, M. (2004), “General Diagnostic Tests for Cross Section Dependence in Panels”, IZA Dİscussion Paper, 1240.
  44. Pesaran, M.H., Yamagata, T. (2008), “Testing slope homogeneity in large panels”, Journal of Econometric, 142(1), 50–93.
  45. Rocha, C. (2018), “Impact Evaluation of Innovation Policy in Brazil”, CAF–Working paper, No. 2018/15.
  46. Romer, P. (1986), “Increasing Returns and Long-Run Growth”, The Journal of Political Economy, 94(5), 1002-1037.
  47. Sargent Jr., J. (2018), “Global Research and Development”, Congressional Research Service. R44283.
  48. Schweiger, H., Stepanov, A., Zacchia, P. (2018), “The Long-Run Effects of R&D Place-Based Policies: Evidence From Russian Science Cities”, EBRD Working Paper, No. 216.
  49. Sheeja, S.R. (2014), “Resource, Development and Innovation in the Indian Industry”, Annual Research Journal of SCMS, 2(1), 103-116.
  50. Solow, R. (1956), “A Contribution to the Theory of Economic Growth”, Quarterly Journal of Economics, 70(1), 65-94.
  51. Surani, S., Gendron, W.; Maredia, S. (2017), “The Economic Impact of Research and Development”, Econometrics, 3161, 1-20.
  52. Swan, T. (1956), “Economic Growth and Capital Accumulation”, Economic Record, 32(63), 334-361.
  53. Tatoğlu, F. Y. (2020), Panel Zaman Serileri Analizi, 3.Baskı, İstanbul: Beta Yayımcılık.
  54. Taylor, M.P.; Sarno, L. (1998), “The behavior of real exchange rates during the postBretton Woods period”, Journal of International Economics, 46 (1998) 281–312.
  55. Türedi, S. (2016), “The Relationship between R&D Expenditures, Patent Applications and Growth: A Dynamic Panel Causality Analysis for OECD Countries”, Anadolu Üniversitesi Sosyal Bilimler Dergisi, 16 (1), 39-48.
  56. United Nations (2005), “Globalization of R&D and Developing Countries”, United Nations Publications.
  57. Ülger, Ö.; Uçan, O. (2018), “R&D Expenditures - Growth Nexus in Turkey”, International Journal of Economics Politics Humanities and Social Sciences, 1(2), 57-74.
  58. Wakelin, K. (2001), “Productivity Growth and R&D Expenditure in UK Manufacturing Firms”, Research Policy, 30(7), 1079-1090.
  59. Wang, E. (2007), “R&D Efficiency and Economic Performance: A Cross-Country Analysis Using the Stochastic Frontier Approach”, Journal of Policy Modeling, 29(2), 345-360.
  60. Yao, X.; Hu, Y.; Gong, H.; Chen, D. (2021), “Characteristics and Evolution of China’s Industry–University–Research Collaboration to Promote the Sustainable Development: Based on Policy Text Analysis”, Sustainability, 13, 13105.
  61. Yu Xiea, Y.; Zhangc, C.; Lai, O. (2014), “China’s Rise as a Major Contributor to Science and Technology”, PNAS, 111(26), 9437–9442.
  62. Godin, B.; Lane, J. (2012), “A Century of Talks on Research: What Happened to Development and Production?”, Int. J. Transitions and Innovation Systems, 2(1), 5-13.
  63. Goel, R.; Ram, R. (1994), “Research and Development Expenditures and Economic Growth: A Cross-Country Study”, Economic Development and Cultural Change, 42(2), 403-411.
  64. Gyekye, A., Oseifuah, E.; Quarshie, G. V. (2012), “The Impact of Research and Development on Socio-Economic”, Journal of Emerging Trends in Economics and Management Sciences (JETEMS), 3(6), 915-922.
  65. Türedi, S. (2016), “The Relationship between R&D Expenditures, Patent Applications and Growth: A Dynamic Panel Causality Analysis for OECD Countries”, Anadolu Üniversitesi Sosyal Bilimler Dergisi, 16 (1), 39-48.
  66. Ülger, Ö.; Uçan, O. (2018), “R&D Expenditures - Growth Nexus in Turkey”, International Journal of Economics Politics Humanities and Social Sciences, 1(2), 57-74.