Does the distribution of R&D incentive among production factors matter? A dynamic general equilibrium model for Türkiye
Purpose – This study aims to explain the effect of research and development (R&D) incentives on economic growth, focusing on the case of Türkiye. A one-sector endogenous growth model has been constructed. The model includes three actors: firm, consumer and government. The consumer derives utilit...
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| Format: | Article |
| Language: | English |
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Emerald Publishing
2023-12-01
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| Series: | European Journal of Management and Business Economics |
| Subjects: | |
| Online Access: | https://www.emerald.com/insight/content/doi/10.1108/EJMBE-08-2022-0255/full/pdf |
| _version_ | 1797272245315305472 |
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| author | İpek Akad Çağaçan Değer |
| author_facet | İpek Akad Çağaçan Değer |
| author_sort | İpek Akad |
| collection | DOAJ |
| description | Purpose – This study aims to explain the effect of research and development (R&D) incentives on economic growth, focusing on the case of Türkiye. A one-sector endogenous growth model has been constructed. The model includes three actors: firm, consumer and government. The consumer derives utility from consumption, supplies human capital and engages in saving. The representative firm invests in R&D to maximize the current value of profit flows by choosing how much input it will use and how much R&D it will undertake. The public sector provides incentives for labor and capital used in R&D production. R&D has been defined as a function that endogenously increases total factor productivity (TFP). Design/methodology/approach – In line with the stated purpose, this study presents a dynamic general equilibrium model. Then, this study calibrates the model parameters with Türkiye's data. Findings – The results imply that incentives for R&D personnel instead of physical capital have a stronger impact on economic growth. Practical implications – The findings of this study point to an important conclusion on how to distribute R&D incentives across the two main factors in R&D production, labor and capital. Incentives given to R&D personnel are more effective in Türkiye. Originality/value – This study shows that the R&D incentives provided by the public sector can be important in emerging countries where many firms have just started their R&D activities. In this study, the authors worked on Türkiye as an emerging country. This study discusses policies on how the R&D incentives will be more effective on economic growth in Türkiye. This study considers that these policies may apply to all emerging countries, due to similar R&D activities in countries that cannot export technology and mostly import technology. 研究目的 – 本研究擬以土耳其的實例為焦點, 探討研究與開發 (研發) 的激勵如何影響經濟的增長;具體地說, 研究旨在探討透過不同生產要素所提供的研發激勵所產生的影響存在著什麼差異。 研究設計/方法/理念 – 為達研究目的, 研究人員構建了一部門內生增長模型。模型內有三個參與者: 公司、消費者和政府。消費者從消費中得到他們所需要的, 提供人力資本, 並參與儲蓄的活動。為了要把利潤的現值儘量提高, 代表公司透過調控投入的數量和研發的承擔, 投資在研發上。公共部門會為研發生產上使用的勞工和資本提供激勵。研究與開發被解釋為一個以內生方式增加全要素生產率的功能。構建的模型是因應土耳其的經濟狀況而調整出來的, 當中也進行了仿真模擬。 研究結果 – 研究結果暗示, 為研發人員提供的激勵, 而不是物質資本, 更能推動經濟增長。 實務方面的啟示 – 研究結果, 就如何於研發生產的兩個主要因素之間, 即勞工與資本之間, 分配研發激勵的問題上, 提供了重要的結論;就土耳其而言, 分配給研發人員的激勵是更為有效的。 研究的原創性/價值 – 我們展示了在新興國家裏, 公共部門提供的研發激勵是重要的, 而在這些國家裏, 剛開始進行研發活動的公司為數不少。在本研究裏, 我們把土耳其當作新興國家看待。我們討論了若要在土耳其使研發激勵更有效地幫助推動經濟增長, 什麼政策是最合適的呢? 因為那些不能把技術出口到其它地方, 而主要靠引進技術的國家均進行相似的研發活動, 所以我們認為討論得來的政策是可應用於所有新興國家的。 |
| first_indexed | 2024-03-07T14:25:35Z |
| format | Article |
| id | doaj.art-cf19401c242a434dbcdfbdecf4412846 |
| institution | Directory Open Access Journal |
| issn | 2444-8451 2444-8494 |
| language | English |
| last_indexed | 2024-03-07T14:25:35Z |
| publishDate | 2023-12-01 |
| publisher | Emerald Publishing |
| record_format | Article |
| series | European Journal of Management and Business Economics |
| spelling | doaj.art-cf19401c242a434dbcdfbdecf44128462024-03-06T08:35:44ZengEmerald PublishingEuropean Journal of Management and Business Economics2444-84512444-84942023-12-0132558660110.1108/EJMBE-08-2022-0255Does the distribution of R&D incentive among production factors matter? A dynamic general equilibrium model for Türkiyeİpek Akad0Çağaçan Değer1Finance-Banking and Insurance, Vocational School of Hizan, Bitlis Eren Universitesi, Bitlis, TurkeyDepartment of Economics, Ege Universitesi, Izmir, TurkeyPurpose – This study aims to explain the effect of research and development (R&D) incentives on economic growth, focusing on the case of Türkiye. A one-sector endogenous growth model has been constructed. The model includes three actors: firm, consumer and government. The consumer derives utility from consumption, supplies human capital and engages in saving. The representative firm invests in R&D to maximize the current value of profit flows by choosing how much input it will use and how much R&D it will undertake. The public sector provides incentives for labor and capital used in R&D production. R&D has been defined as a function that endogenously increases total factor productivity (TFP). Design/methodology/approach – In line with the stated purpose, this study presents a dynamic general equilibrium model. Then, this study calibrates the model parameters with Türkiye's data. Findings – The results imply that incentives for R&D personnel instead of physical capital have a stronger impact on economic growth. Practical implications – The findings of this study point to an important conclusion on how to distribute R&D incentives across the two main factors in R&D production, labor and capital. Incentives given to R&D personnel are more effective in Türkiye. Originality/value – This study shows that the R&D incentives provided by the public sector can be important in emerging countries where many firms have just started their R&D activities. In this study, the authors worked on Türkiye as an emerging country. This study discusses policies on how the R&D incentives will be more effective on economic growth in Türkiye. This study considers that these policies may apply to all emerging countries, due to similar R&D activities in countries that cannot export technology and mostly import technology. 研究目的 – 本研究擬以土耳其的實例為焦點, 探討研究與開發 (研發) 的激勵如何影響經濟的增長;具體地說, 研究旨在探討透過不同生產要素所提供的研發激勵所產生的影響存在著什麼差異。 研究設計/方法/理念 – 為達研究目的, 研究人員構建了一部門內生增長模型。模型內有三個參與者: 公司、消費者和政府。消費者從消費中得到他們所需要的, 提供人力資本, 並參與儲蓄的活動。為了要把利潤的現值儘量提高, 代表公司透過調控投入的數量和研發的承擔, 投資在研發上。公共部門會為研發生產上使用的勞工和資本提供激勵。研究與開發被解釋為一個以內生方式增加全要素生產率的功能。構建的模型是因應土耳其的經濟狀況而調整出來的, 當中也進行了仿真模擬。 研究結果 – 研究結果暗示, 為研發人員提供的激勵, 而不是物質資本, 更能推動經濟增長。 實務方面的啟示 – 研究結果, 就如何於研發生產的兩個主要因素之間, 即勞工與資本之間, 分配研發激勵的問題上, 提供了重要的結論;就土耳其而言, 分配給研發人員的激勵是更為有效的。 研究的原創性/價值 – 我們展示了在新興國家裏, 公共部門提供的研發激勵是重要的, 而在這些國家裏, 剛開始進行研發活動的公司為數不少。在本研究裏, 我們把土耳其當作新興國家看待。我們討論了若要在土耳其使研發激勵更有效地幫助推動經濟增長, 什麼政策是最合適的呢? 因為那些不能把技術出口到其它地方, 而主要靠引進技術的國家均進行相似的研發活動, 所以我們認為討論得來的政策是可應用於所有新興國家的。https://www.emerald.com/insight/content/doi/10.1108/EJMBE-08-2022-0255/full/pdfOne-sector growth modelResearch and developmentTechnological changeGovernment policyDynamic general equilibrium部門增長模型 |
| spellingShingle | İpek Akad Çağaçan Değer Does the distribution of R&D incentive among production factors matter? A dynamic general equilibrium model for Türkiye European Journal of Management and Business Economics One-sector growth model Research and development Technological change Government policy Dynamic general equilibrium 部門增長模型 |
| title | Does the distribution of R&D incentive among production factors matter? A dynamic general equilibrium model for Türkiye |
| title_full | Does the distribution of R&D incentive among production factors matter? A dynamic general equilibrium model for Türkiye |
| title_fullStr | Does the distribution of R&D incentive among production factors matter? A dynamic general equilibrium model for Türkiye |
| title_full_unstemmed | Does the distribution of R&D incentive among production factors matter? A dynamic general equilibrium model for Türkiye |
| title_short | Does the distribution of R&D incentive among production factors matter? A dynamic general equilibrium model for Türkiye |
| title_sort | does the distribution of r d incentive among production factors matter a dynamic general equilibrium model for turkiye |
| topic | One-sector growth model Research and development Technological change Government policy Dynamic general equilibrium 部門增長模型 |
| url | https://www.emerald.com/insight/content/doi/10.1108/EJMBE-08-2022-0255/full/pdf |
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