International Conference on Eurasian Economies
1-3 July 2014 – Skopje, MACEDONIA
Paper detail
Paper ID : 1133
Status : Paper published
Language : English
Topic : Growth and Development
Presenter: Ph.D. candidate Mustafa Gömleksiz
Session : 2A Growth & Development
Economic Growth in the Axis of Human Capital, R&D and Innovation: An Analysis on the G8 Countries
Economic Growth in the Axis of Human Capital, R&D and Innovation: An Analysis on the G8 Countries
- Ph.D. candidate Mustafa Gömleksiz (Necmettin Erbakan University, Türkiye)
- Assoc. Prof. Dr. Birol Mercan (Necmettin Erbakan University, Türkiye)
Abstract
In recent years, human capital, R&D activities and innovation have an important place in both empirical studies related with economic growth and new growth models. In this context, it is drawn that innovations frequently arising from R&D activities are the main engine of the new economy, while productivity-based positive relationship between human capital and economic growth of the countries is emphasized by a variety of evidence. This paper empirically investigates the impact of human capital, R&D and innovation on economic growth in context of G8 countries. Indicators used in analyze covering the period 1998-2012 are gross domestic product per capita, public spending on education, population with tertiary education between aged 25-64, total public and private sector R&D expenditures and international patent grants. Such relationships were analyzed by using the panel data method for the 8 cross-sectional units and 15 year long period. The results indicate that impact of both human capital and innovation on economic growth is signifanctly positive. Furthermore, results show that the total public and private sector R&D expenditure has a negative effect on economic growth while its coefficient statistically insignificant. Latter result obtained from analyze also contribute to discussions about the roles of patents and public funding or public performed R&D in economic growth.
JEL codes: O40, C33, I20
Gömleksiz, Mustafa, Mercan, Birol (2014). "Economic Growth in the Axis of Human Capital, R&D and Innovation: An Analysis on the G8 Countries" in Proceedings of International Conference of Eurasian Economies 2014, pp.63-67, Skopje, MACEDONIA.
DOI: https://doi.org/10.36880/C05.01133
Session 2A: Growth & Development
