Türk Devletleri Teşkilatı Örnekleminde AR-GE Harcamaları ve Doğrudan Yabancı Yatırımların Ekonomik Büyüme Üzerine Etkisi
The Effect of R&D Expenditures and Foreign Direct Investment on Economic Growth in the Organization of Turkish States Sample

Summary/Abstract: The aim of this study is to reveal the effects of Foreign Direct Investment and R&D expenditures on economic growth in the Organization of Turkish States countries. In this study, where foreign direct investments, R&D expenditures and gross domestic product are used as variables, annual data for the period 1997-2021 are analyzed with new generation panel econometric methods. Dynamic panel data methods are used and Westerlund (2006) and AMG cointegration tests are utilized for estimations. As a result of the analyses, it is found that in the Organization of Turkish States countries, expenditures on R&D make a significant contribution to economic growth in the long run, while the effect of foreign direct investments is statistically insignificant.In order to ensure economic growth in the countries of the Organization of Turkish States, first of all, it would be beneficial to remove all economic, legal and infrastructural obstacles in order to attract foreign direct investments, to create a stable economic, political and security environment in the country, to encourage R&D activities and to encourage public and private sector R&D processes.

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