The Role of Knowledge on Economic Growth: The Case of Turkey, 1963-2010
AbstractThe 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.
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Bibliographic InfoPaper provided by STPS - Science and Technology Policy Studies Center, Middle East Technical University in its series STPS Working Papers with number 1207.
Length: 19 pages
Date of creation: Sep 2012
Date of revision: Sep 2012
Knowledge; Economic Growth; Turkey;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-06-04 (All new papers)
- NEP-ARA-2013-06-04 (MENA - Middle East & North Africa)
- NEP-FDG-2013-06-04 (Financial Development & Growth)
- NEP-KNM-2013-06-04 (Knowledge Management & Knowledge Economy)
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