Ekonomik Büyüme ve Teknolojik Gelişmeler: Bir Nedensellik Analizi(Economic Growth and Technological Development: A Causality Analysis)

Abstract

The world economies put emphasis on economic growth in order to adapt severe competition conditions brought by globalization and to increase the level of prosperity. There are various sources of economic growth. One of the most important of these resources is technological development. That concept contributes to economic growth by increasing productivity and reducing costs. The purpose of this study is to investigate the statistical validity of the economic relationship between patents, one of the indicators of technological development and economic growth. Panel causality analysis was used as for this purpose. The number of patent applications and the GDP data of 22 OECD countries between 1980 and 2019 were used as samples to test this relationship. These data were obtained from the World Bank statistical database. As a result, it has been determined that there is a causality relationship between technological development and economic growth.

Keywords

• economic growth
• patents
• panel causality