The Relationship Between Knowledge Economy and Economic Growth: Analysis on Turkish Economy with Structural Breaks

İbrahim Çütcü and Aysun Akkurt
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İbrahim Çütcü: Department of Economics, Hasan Kalyoncu University, Gaziantep, Türkiye
Aysun Akkurt: Department of Economics, Hasan Kalyoncu University, Gaziantep, Türkiye

Yildiz Social Science Review, 2022, vol. 8, issue 2, 82-93

Abstract: he knowledge economy has become an important element of competition for many developing countries in today's global world. Countries that invest in the knowledge economy and use the elements of the knowledge economy in their production processes can increase their economic growth performances, especially through their foreign trade. Within the scope of the knowledge economy, there are many variables such as R&D, information technologies, number of patents and copyrights. In this context, the relationship between the knowledge economy and economic growth is examined in this study. In the analyses, the Turkish economy is tested by using the annual data of the 1984-2019 period. In the model, while number of patents and communication service export were used as knowledge economy variables, the foreign trade balance was included in the analysis as a control variable. In the study in which structural break tests were used Hacker and Hatemi-J causality analyzes were performed at the end of Lee-Strazich unit root test and Hatemi-J cointegration test. According to the empirical findings, the variables included in the model are stationary at the same level. As a result of the co-integration test, a long-term relationship was determined between the knowledge economy and economic growth in the Turkish economy. In addition, a one-way causality relationship has been observed from economic growth to communication service exports.

Keywords: Knowledge economy; foreign trade balance; economic growth; patent applications.Journal: Yildiz Social Science Review (search for similar items in EconPapers)
JEL-codes: F00 F30 G00 G10 K00 K20 M00 M20 O10 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:aye:journl:v:8:y:2022:i:2:p:82-93

DOI: 10.51803/yssr.1036523

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