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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: © 2023 |Pages: 25
ISBN13: 9781668474600|ISBN10: 1668474603|EISBN13: 9781668474617
DOI: 10.4018/978-1-6684-7460-0.ch092
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MLA

Akça, Samet, and Bilge Afşar. "The Relationship Between Economic Growth and Innovation: Panel Data Analysis on Chosen OECD Countries." Research Anthology on Macroeconomics and the Achievement of Global Stability, edited by Information Resources Management Association, IGI Global, 2023, pp. 1740-1764. https://doi.org/10.4018/978-1-6684-7460-0.ch092

APA

Akça, S. & Afşar, B. (2023). The Relationship Between Economic Growth and Innovation: Panel Data Analysis on Chosen OECD Countries. In I. Management Association (Ed.), Research Anthology on Macroeconomics and the Achievement of Global Stability (pp. 1740-1764). IGI Global. https://doi.org/10.4018/978-1-6684-7460-0.ch092

Chicago

Akça, Samet, and Bilge Afşar. "The Relationship Between Economic Growth and Innovation: Panel Data Analysis on Chosen OECD Countries." In Research Anthology on Macroeconomics and the Achievement of Global Stability, edited by Information Resources Management Association, 1740-1764. Hershey, PA: IGI Global, 2023. https://doi.org/10.4018/978-1-6684-7460-0.ch092

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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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