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What is High Technology Product

Chapter 4
Handbook of Research on Military Expenditure on Economic and Political Resources
Technology is the most important in the defense, aerospace, and space industries where the most advanced technologies are often used and constantly new technologies are needed. It is a fact that the technologies developed in this area are used later on for civilian purposes, thus contributing to the socio-economic development of countries indirectly but to a great extent. It is known that the highest added value of industrial products during the presentation process to the market is created during the period of technology development and product design.
Published in Chapter:
The Relationship Among Military Expenditure, High Technological Product Exports, and Economic Growth: An Econometric Analysis for Selected Economies
Sevgi Sezer (Uludag University, Turkey)
Copyright: © 2018 |Pages: 22
DOI: 10.4018/978-1-5225-4778-5.ch004
Abstract
In this chapter, the effects of military expenditure (MEXP) on high-tech exports (HTX) and GDP per capita (GDPPC) of G7 and new industrialized countries (NIC) are analyzed for period 1988-2015 by panel data analysis. The causality relationships between the series are examined by Dumitrescu and Hurlin test. In G7 countries, one-way causality relationship from HTX to MEXP and two-way causality relationship between MEXP and GDPPC have been identified. Also, in NIC countries, two-way causality relationship between HTX and MEXP and one-way causality relationship from GDPPC to MEXP have been determined. Cointegration relations are tested by Pedroni test and the series are found to be cointegrated. It is seen that in the G7 countries, 1% increase in MEXP during the period of 1988-2015 increased HTX by 0.71% and GDPPC by 0.98%. In NIC countries, the 1% increase in MEXP increased HTX by 1.7% and GDPPC by 0.96%. The effect of MEXP on HTX is found much higher in NIC countries.
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