The Role of R&D Expenditures on High Technology Product Exports: A Panel Causality Analysis for OECD Countries

Sema Yaşar; Dilan Dayanan

Makale detayları

The Role of R&D Expenditures on High Technology Product Exports: A Panel Causality Analysis for OECD Countries

Yazarlar:

Sema Yaşar | Dilan Dayanan

Yayıncı:

Istanbul University

Ana Başlıklar:

Ekonometri (Diğer)

Dergi:

EKOIST Journal of Econometrics and Statistics Issue 41, pp.151-160

Belge Tipi:

Makale

Yayın Tarihi:

12/2024

Belge Dili:

Türkçe

Document ID (Org No.):

2001340599

pISSN:

2651-396X

Anahtar kelimeler:

Özet:

 High-technology exports have become one of the most important components of international trade in recent years due to their high added value. In the context of the globalising economy, there is no doubt about the impact of research and development spending on high-tech exports, which are also advantageous in terms of competitiveness. This study examines the nexus between high-tech exports HTECH, research and development expenditures RD, trade openness TRADE, and gross fixed capital formation GFCF for selected 22 OECD countries within a model using a panel dataset over the period 19962021. In this study, the new version of the Granger causality test by Juodis, Karavias and Sarafidis 2021 developed by Xiao et al. 2023 was used to test the causality between high-technology product exports and RD expenditures in OECD countries. The empirical findings show a bidirectional causal link between high-technology exports and RD expenditure. Additionally, a bidirectional causality relationship was found between high-tech product exports and the gross fixed capital investments and trade openness added to the model as control variables. As a result of the analysis, it is concluded that policymakers should increase investments in RD activities, allocate more resources from the national income to these activities, and implement incentive policies such as tax reductions, low-interest loan opportunities, educational arrangements for the supply of qualified labour, and the provision of physical infrastructure for technological developments.

 High-technology exports have become one of the most important components of international trade in recent years due to their high added value. In the context of the globalising economy, there is no doubt about the impact of research and development spending on high-tech exports, which are also advantageous in terms of competitiveness. This study examines the nexus between high-tech exports HTECH, research and development expenditures RD, trade openness TRADE, and gross fixed capital formation GFCF for selected 22 OECD countries within a model using a panel dataset over the period 19962021. In this study, the new version of the Granger causality test by Juodis, Karavias and Sarafidis 2021 developed by Xiao et al. 2023 was used to test the causality between high-technology product exports and RD expenditures in OECD countries. The empirical findings show a bidirectional causal link between high-technology exports and RD expenditure. Additionally, a bidirectional causality relationship was found between high-tech product exports and the gross fixed capital investments and trade openness added to the model as control variables. As a result of the analysis, it is concluded that policymakers should increase investments in RD activities, allocate more resources from the national income to these activities, and implement incentive policies such as tax reductions, low-interest loan opportunities, educational arrangements for the supply of qualified labour, and the provision of physical infrastructure for technological developments.

 High-technology exports have become one of the most important components of international trade in recent years due to their high added value. In the context of the globalising economy, there is no doubt about the impact of research and development spending on high-tech exports, which are also advantageous in terms of competitiveness. This study examines the nexus between high-tech exports HTECH, research and development expenditures RD, trade openness TRADE, and gross fixed capital formation GFCF for selected 22 OECD countries within a model using a panel dataset over the period 19962021. In this study, the new version of the Granger causality test by Juodis, Karavias and Sarafidis 2021 developed by Xiao et al. 2023 was used to test the causality between high-technology product exports and RD expenditures in OECD countries. The empirical findings show a bidirectional causal link between high-technology exports and RD expenditure. Additionally, a bidirectional causality relationship was found between high-tech product exports and the gross fixed capital investments and trade openness added to the model as control variables. As a result of the analysis, it is concluded that policymakers should increase investments in RD activities, allocate more resources from the national income to these activities, and implement incentive policies such as tax reductions, low-interest loan opportunities, educational arrangements for the supply of qualified labour, and the provision of physical infrastructure for technological developments.

 Yüksek teknolojili ürün ihracatı sağlamış olduğu yüksek katma değer dolayısıyla son yıllarda uluslararası ticaretin en önemli unsurlarından biri haline gelmiştir. Küreselleşen ekonomide önemi artan ve rekabet gücü açısından da etkili olan yüksek teknolojili ürün ihracatı için araştırma geliştirme harcamalarının etkisi yadsınamaz. Bu çalışmada, seçilen 22 OECD ülkesi için 1996-2021 dönemini içeren panel veri seti kullanılarak yüksek teknoloji ihracatı HTECH, araştırma ve geliştirme harcamaları RD, ticari açıklık TRADE ve gayri safi sabit sermaye yatırımları GFCF arasındaki ilişki incelenmektedir. Çalışmada, OECD ülkelerinde yüksek teknolojili ürün ihracatı ile Ar-Ge harcamaları arasındaki nedenselliği test etmek için Juodis, Karavias ve Sarafidisin 2021 Granger nedensellik testinin Xiao vd. 2023 tarafından geliştirilen yeni versiyonu uygulanmıştır. Yapılan analizler neticesinde yüksek teknolojili ürün ihracatı ile araştırma geliştirme harcamaları arasında çift yönlü nedensellik ilişkisi tespit edilmiştir. Ayrıca yüksek teknolojili ürün ihracatı ile modele kontrol değişken olarak eklenen gayri safi sabit sermaye yatırımları ve ticari açıklık ile arasında da çift yönlü nedensellik ilişkisi bulunmuştur. Yapılan analizlerin neticesinde politika yapıcıların araştırma ve geliştirme faaliyetlerine yönelik yatırımları artırmaları, milli gelirden bu faaliyetlere yönelik daha fazla kaynak aktarmaları ve vergi indirimleri, düşük faizli kredi imkanları, nitelikli işgücü temini için eğitim düzenlemeleri, teknolojik gelişmeler için fiziki altyapı temini gibi teşvik edici politikaları uygulamaları gerektiği sonucuna varılmıştır.

Makale detayları

The Role of R&D Expenditures on High Technology Product Exports: A Panel Causality Analysis for OECD Countries

Yazarlar:

Sema Yaşar | Dilan Dayanan

Yayıncı:

Istanbul University

Ana Başlıklar:

Ekonometri (Diğer)

Dergi:

EKOIST Journal of Econometrics and Statistics Issue 41, pp.151-160

Belge Tipi:

Makale

Yayın Tarihi:

12/2024

Belge Dili:

Türkçe

Document ID (Org No.):

2001340599

pISSN:

2651-396X

R&D expenditures

High-technology exports

Panel Causality AnalysisAr-Ge harcamaları

Yüksek teknolojili ürün ihracatı

Panel Nedensellik Analizi

Sayı

Makale detayları

The Role of R&D Expenditures on High Technology Product Exports: A Panel Causality Analysis for OECD Countries

Yazarlar: Sema Yaşar | Dilan Dayanan

Yayıncı: Istanbul University

Ana Başlıklar: Ekonometri (Diğer)

Dergi: EKOIST Journal of Econometrics and Statistics Issue 41, pp.151-160

Belge Tipi: Makale

Yayın Tarihi: 12/2024

Belge Dili: Türkçe

Document ID (Org No.): 2001340599

pISSN: 2651-396X

R&D expenditures

High-technology exports

Panel Causality AnalysisAr-Ge harcamaları

Yüksek teknolojili ürün ihracatı

Panel Nedensellik Analizi

Sayı

Yazarlar:

Sema Yaşar | Dilan Dayanan

Yayıncı:

Istanbul University

Ana Başlıklar:

Ekonometri (Diğer)

Dergi:

EKOIST Journal of Econometrics and Statistics Issue 41, pp.151-160

Belge Tipi:

Makale

Yayın Tarihi:

12/2024

Belge Dili:

Türkçe

Document ID (Org No.):

2001340599

pISSN:

2651-396X