Knowledge and Economic Growth: A Dynamic Panel Data Analysis for OECD Countries

Download

stps_wp_1804.pdf

Date

2018

Author

Utku İsmihan, Fatma M.

Metadata

Show full item record

This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

Item Usage Stats

296
views

140
downloads

This paper aims to investigate the role of knowledge in the economic growth convergence of the OECD member countries during the 1995-2011 period, by utilizing production function approach. In our augmented production function framework, in addition to human capital, we consider other important channels of knowledge (R&D, trade and ICTs) to understand how knowledge contributes to the growth performance and growth convergence of the OECD countries. Furthermore, in contrast to most of the existing studies which used traditional panel data analysis, this study utilizes the dynamic panel data techniques. This approach enables us to utilize the long-run information in the data and hence gives us the possibility to analyze the impact of knowledge indicators on economic growth by focusing on equilibrium relations over longer time horizon. The empirical results suggest a positive impact of knowledge indicators on the economic growth performances of OECD countries and that there is convergence to a common long-run equilibrium in OECD.

Subject Keywords

Economic growth, Knowledge, Productivity, OECD and pooled mean group analysis

URI

https://hdl.handle.net/11511/92085

Collections

Science and Technology Policy Research Center (TEKPOL), Article

Suggestions

OpenMETU
Core

Macroeconomic Effects of Information and Communication Technologies in Turkey and Other OECD Member Countries Karagöl, Burak; Erdil, Erkan (Science And Technology Policies Research Center, Middle East Technical University (Ankara, Turkey), 2012) This paper investigates the effects of ICT on economic growth in Turkey and other OECD member countries. After discussing the theoretical relationships between ICT usage and economic growth, we test the positive impact of ICT revolution on economic growth econometrically. In the empirical part of the study, we perform panel data analyses by employing data sets that belong to 30 OECD member countries for 1999-2008 period as well as carrying out time series analyses for only Turkey by using data between 1980 ...
Information and communıcation technologies in Turkey and other OECD member countries Erdil, Erkan (2012-01-01) This paper investigates the economic effects of the ICT revolution. In this regard, economic impacts of ICT are evaluated by touching various segments of social and economic spheres that are deeply affected by the ICT revolution. Further, we present summary of a comprehensive survey of previous studies in the literature on the relationship between economic growth and ICT. Then, we examine the ICT sector in OECD area in general and specifically in Turkey. Depending on the results of all these attempts, we pr...
The Role of Knowledge on Economic Growth: The Case of Turkey, 1963-2010 Utku İsmihan, Fatma M. (Science And Technology Policies Research Center, Middle East Technical University (Ankara, Turkey), 2012) The importance of knowledge for long-run economic growth has long been an important research area for economists and policy makers. This paper attempts to analyze the impact of knowledge on economic growth in Turkey over the 1963-2010 period, by using a production function approach. In contrast to early studies, which have analyzed the impact of a single dimension of knowledge on economic growth, a knowledge index is constructed to see the impact of various dimensions of knowledge with a single and comprehe...
Demand following or supply leading? A panel data analysis for developed, developing, and less developed countries Akıncı, Gönül Yüce; Akıncı, Merter; Yılmaz, Ömer (Orta Doğu Teknik Üniversitesi (Ankara, Turkey), 2013-12-1) In this paper, the linkages between financial development and economic growth in developed, developing and less developed countries are investigated using unbalanced panel cointegration and causality analysis in the period of 1980 – 2011. The results of the Pedroni cointegration analysis show the existence of cointegration relations between financial development and economic growth for whole country groups, but Kao cointegration analysis indicates the long – run relationship between the related variables fo...
Technological change, human capital, and absorptive capacity: Can Turkey escape the Middle Income Trap? Yılmaz, Gökhan; Saraçoğlu, Dürdane Şirin (Orta Doğu Teknik Üniversitesi (Ankara, Turkey), 2016-4) In this study, we build an endogenous growth model around the idea that in order to escape the Middle Income Trap (MIT) and catch-up with the rich economies, a country in the MIT (like Turkey) needs to experience technological change at a rate faster than that of the world frontier technological progress, and to realize convergence, she must increase technological absorptive capacity. We show that by increasing the years of schooling, educational quality, and the share of capital goods imports in GDP, ...

Citation Formats

F. M. Utku İsmihan, “Knowledge and Economic Growth: A Dynamic Panel Data Analysis for OECD Countries,” 2018, Accessed: 00, 2021. [Online]. Available: https://hdl.handle.net/11511/92085.