The Role of Knowledge on Economic Growth: The Case of Turkey, 1963-2010
Fatma M. Utku-İsmihan ()
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Fatma M. Utku-İsmihan: TEKPOL, Science and Technology Policy Studies, Middle East Technical University
No 1207, STPS Working Papers from STPS - Science and Technology Policy Studies Center, Middle East Technical University
The importance of knowledge for long-run economic growth has long been an important research area for economists and policy makers. This paper attempts to analyze the impact of knowledge on economic growth in Turkey over the 1963-2010 period, by using a production function approach. In contrast to early studies, which have analyzed the impact of a single dimension of knowledge on economic growth, a knowledge index is constructed to see the impact of various dimensions of knowledge with a single and comprehensive measure of the “level” of knowledge in the economy. Moreover, time series methods -such as cointegration and impulse response analysis- are used to analyze the role of knowledge on economic growth in Turkey. The empirical results indicate that higher level of knowledge had a positive impact on the growth rate of Turkish economy over the sample period. It is, therefore, necessary to create an economic environment that is conducive to enhance the level of knowledge and hence economic growth in Turkey.
Keywords: Knowledge; Economic Growth; Turkey (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ara, nep-fdg and nep-knm
Date: 2012-09, Revised 2012-09
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http://www.stps.metu.edu.tr/sites/stps.metu.edu.tr/files/1207_0.pdf First version, 2012 (application/pdf)
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Persistent link: http://EconPapers.repec.org/RePEc:met:stpswp:1207
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