Search

The research and development activities that expressed as R & D are considered to be the driving force of national economies today. R & D activities have an important place in the development of the economy. The internal growth theories, especially after 1980, emphasized the importance of R & D in economic growth. This study was carried out in order to reveal the relationship between R & D spending and economic growth. This relationship will be examined with panel data model for Turkey during 1996-2014 period with G7. According to the results obtained, R & D spending affects economic growth positively. The result is that the firm needs to focus on R & D expenditures in order to speed up the standard of living and economic growth. [ABSTRACT FROM AUTHOR]