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Journals / Karadeniz Teknik Üniversitesi Sosyal Bilimler Enstitüsü Sosyal Bilimler Dergisi / 2021 / Cilt: 11 - Sayı: 22

THE EFFECTS OF INSTITUTIONAL STRUCTURE AND INNOVATION ON ECONOMIC GROWTH: THE CASE OF EFFICIENCY-DRIVEN AND INNOVATION-DRIVEN ECONOMIES

KURUMSAL YAPI VE YENİLİKLERİN EKONOMİK BÜYÜMEYE ETKİLERİ: ETKİNLİK ÇEKİŞLİ VE YENİLİK ÇEKİŞLİ ÜLKELER ÖRNEĞİ

Doğan KEŞAP
SEYFETTİN ARTAN
Pages
287–305
DOI
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AI Summary & Key Takeaways

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

This result reveals that policy implementers who want to make sustainable growth should consider the country-specific factors and support the encouraging institutional structure in order to benefit more from the positive effects of innovation.

📌 3 Key Takeaways

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Objective & Hypothesis:It has been frequently argued in the economics literature recently that physical and human capital is not only sufficient for sustainable growth, but that incentive institutions and innovations play an important role in ensuring sustainable growth.
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Key Findings & Data:In the study, in which panel data analysis method was used, 15 countries with efficiency-driven and 24 countries with innovation-driven were included in the analysis during the 2003-2016 period.
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Conclusion & Impact:This result reveals that policy implementers who want to make sustainable growth should consider the country-specific factors and support the encouraging institutional structure in order to benefit more from the positive effects of innovation.
🔬Design:Research Article
📍Scope:2003-2016 Verileri
⚙️Variables:Kurumsal Yapı · Yenilik · Ekonomik Büyüme

Abstract

It has been frequently argued in the economics literature recently that physical and human capital is not only sufficient for sustainable growth, but that incentive institutions and innovations play an important role in ensuring sustainable growth. In addition, studies proves that the factors that reveal innovation and lead to the spread of innovation are not independent of the institutional structures of countries. The aim of this study is to analyze the effects of institutional structure and innovations on economic growth for country groups with different levels of innovation. In the study, in which panel data analysis method was used, 15 countries with efficiency-driven and 24 countries with innovation-driven were included in the analysis during the 2003-2016 period. In the classification of countries, the Global Competitiveness Index classification prepared by the World Economic Forum has been taken into account. The findings show that institutional structure and innovations affect positively economic growth. However, the effect of innovation on economic growth was found to be higher in economies with efficiency-driven countries. This result reveals that policy implementers who want to make sustainable growth should consider the country-specific factors and support the encouraging institutional structure in order to benefit more from the positive effects of innovation.

Özet

Sürdürülebilir büyüme için sadece fiziksel ve beşeri sermayenin yeterli olmadığı, teşvik edici kurumların ve yeniliklerin sürdürülebilir büyümeyi sağlamada önemli rol oynadığı son dönemde ekonomi literatüründe sıklıkla tartışılmaktadır. Öte yandan yapılan çalışmalar yeniliği ortaya çıkaran ve yeniliğin yayılmasına yol açan etmenlerin ülkelerin kurumsal yapılarından bağımsız olmadığını ortaya koymaktadır. Bu çalışmanın amacı, kurumsal yapının ve yeniliklerin ekonomik büyümeye etkilerini farklı yenilik düzeyine sahip ülke grupları için analiz etmektir. Panel veri analiz yönteminin kullanıldığı çalışmada 2003-2016 döneminde etkinlik çekişli 15 ve yenilik çekişli 24 ülke analize dâhil edilmiştir. Ülkelerin tasnifinde Dünya Ekonomik Forumu tarafından hazırlanan Küresel Rekabetçilik Endeksi sınıflandırması dikkate alınmıştır. Elde edilen bulgular, kurumsal yapı ve yeniliklerin ekonomik büyümeyi pozitif olarak etkilediğini göstermektedir. Ancak, etkinlik çekişli ekonomilerde yeniliğin ekonomik büyüme üzerindeki etkisi daha yüksek tespit edilmiştir. Bu sonuç, sürdürülebilir büyümeyi gerçekleştirmek isteyen politika uygulayıcılarının yeniliğin pozitif etkilerinden daha fazla yararlanabilmek için ülkeye özgü faktörleri dikkate almaları ve teşvik edici kurumsal yapıyı desteklemeleri gereğini ortaya koymaktadır.

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Cite This Article

KEŞAP, D., ARTAN, S. (2021). THE EFFECTS OF INSTITUTIONAL STRUCTURE AND INNOVATION ON ECONOMIC GROWTH: THE CASE OF EFFICIENCY-DRIVEN AND INNOVATION-DRIVEN ECONOMIES. Karadeniz Teknik Üniversitesi Sosyal Bilimler Enstitüsü Sosyal Bilimler Dergisi, Cilt: 11 - Sayı: 22, 287–305. https://ajindex.com/articles/415588

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