Has the Industrial Sector Lost Its Importance? An Examination of Exports and Competitiveness

Huseyin Karagoz () and Sefer Sener
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Huseyin Karagoz: Ä°stanbul, Turkiye
Sefer Sener: Istanbul University, Faculty of Economics, Technology and Industrial Economics, Istanbul, Turkiye

Istanbul Journal of Economics-Istanbul Iktisat Dergisi, 2023, vol. 73, issue 73-1, 307-331

Abstract: This study examines the effects that the industrial sector, whose share in the economies of countries gradually decreasing, and the innovation that has come to the fore under the competitive conditions of today have on exports and competitiveness. The study covers the 2008-2017 period for 35 OECD countries and has preferred data on the value the manufacturing industry adds for the industry sector and data on R&D expenditures in regard to innovation. The results obtained from the applied panel data analysis method show the increase in the manufacturing industry to have positively affected competitiveness and goods exports and the increase in R&D expenditures to have positively affected competitiveness, goods exports, and high technology exports. As a result, the study concludes the manufacturing industry as the most important branch of the industrial sector to have an important role in the development of competitiveness and exports that bring sustainability to economic growth, with innovation-oriented initiatives suchas R&D activities in this sector also significantly increasing this effect.

Keywords: Industry sector; innovation; competitiveness JEL Classification: L60; O14; O30 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:ist:journl:v:73:y:2023:i:1:p:307-331

DOI: 10.26650/ISTJECON2022-1208734

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