The Role of Scientific and Technological Performance on Economic Growth: A Panel Data Analysis for OECD Countries


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Tekin A., DEMİREL O.

SOSYOEKONOMI, vol.30, no.51, pp.353-364, 2022 (ESCI) identifier

  • Publication Type: Article / Article
  • Volume: 30 Issue: 51
  • Publication Date: 2022
  • Doi Number: 10.17233/sosyoekonomi.2022.01.17
  • Journal Name: SOSYOEKONOMI
  • Journal Indexes: Emerging Sources Citation Index (ESCI), TR DİZİN (ULAKBİM)
  • Page Numbers: pp.353-364
  • Keywords: Granger Causality Analysis, R&D, Patent Applications, Economic Growth, Panel Data, RESEARCH-AND-DEVELOPMENT, INNOVATION
  • Süleyman Demirel University Affiliated: Yes

Abstract

Non-physical factors such as education, knowledge, information, innovation, and research and development (R&D) are new sources for economic growth. The study analyses the effect of scientific and technological performance on GDP. Pedroni Cointegration Test, Vector Error Correction Model, and Granger Causality Analysis are applied to 21 OECD member countries for the 2003-2016 period. As the result of the analysis, it is determined that there is a long-term relationship between R&D expenditures used in the concretization of scientific and technological performance, the number of patents applied for innovation, and GDP. Further, the relationships' directions are determined from patent applications to GDP and GDP to R&D expenditures.