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The Relationship Between Economic Growth and Innovation: Panel Data Analysis on Chosen OECD Countries

The Relationship Between Economic Growth and Innovation: Panel Data Analysis on Chosen OECD Countries

Samet Akça, Bilge Afşar
Copyright: © 2020 |Pages: 25
ISBN13: 9781799825593|ISBN10: 1799825590|EISBN13: 9781799825609
DOI: 10.4018/978-1-7998-2559-3.ch017
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MLA

Akça, Samet, and Bilge Afşar. "The Relationship Between Economic Growth and Innovation: Panel Data Analysis on Chosen OECD Countries." Handbook of Research on Decision-Making Techniques in Financial Marketing, edited by Hasan Dinçer and Serhat Yüksel, IGI Global, 2020, pp. 358-382. https://doi.org/10.4018/978-1-7998-2559-3.ch017

APA

Akça, S. & Afşar, B. (2020). The Relationship Between Economic Growth and Innovation: Panel Data Analysis on Chosen OECD Countries. In H. Dinçer & S. Yüksel (Eds.), Handbook of Research on Decision-Making Techniques in Financial Marketing (pp. 358-382). IGI Global. https://doi.org/10.4018/978-1-7998-2559-3.ch017

Chicago

Akça, Samet, and Bilge Afşar. "The Relationship Between Economic Growth and Innovation: Panel Data Analysis on Chosen OECD Countries." In Handbook of Research on Decision-Making Techniques in Financial Marketing, edited by Hasan Dinçer and Serhat Yüksel, 358-382. Hershey, PA: IGI Global, 2020. https://doi.org/10.4018/978-1-7998-2559-3.ch017

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Abstract

This chapter studies innovation and economic growth and emphasizes their relationship. In this context; innovation and economic growth outputs of 16 OECD countries between 2005 and 2015 are analyzed. GDP is considered as economic growth variable, R&D investments in GDP (%), and patent applications are considered as innovation variables. In light of these variables, panel data analyze is used. Unit root, Pedroni co-integration and FMOLS tests were applied with the order. As a result, the increase in patent applications and R&D investments was found to have a positive effect on economic growth.

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