Abstract
An increase in competition power provides more profitability by affecting the amount of production and export. By the increase in technology, innovation and R&D investments in recent ages in the world, high technology industries became even more important for competitive power. In this study, two analyses covering the data from 1995 to 2015 have been considered. In the first analysis, the competitiveness of the high-tech and low-tech sectors has been compared by using RCA index for selected countries. In the second analysis, the relationship between competition power and growth, total factor productivity and R&D expenditures have been analyzed by using GMM.
Highlights
There are two sources of economic growth: the first is the increase in the stock of production factors, and the other is the technological development
The data included in the study cover the 1995–2015 annual series of the selected 15 OECD (Turkey, India, Korea, Japan, China, Germany, Belgium, Poland, Hungary, France, Austria, UK, Israel, Finland and Canada) countries
The relationship between high-tech export competitiveness and low-tech export competitiveness, growth rate, and productivity has been tested through the generalised method of moments (GMM)
Summary
There are two sources of economic growth: the first is the increase in the stock of production factors, and the other is the technological development. Know-how in technologically condensed activities is more important for economic growth It is, each country should specialise in exports of high-tech goods. High-tech imports from advanced countries have a favourable impact on interior innovation and imitation It has caused an increase in GDP growth by higher quality monetary fund goods are used in interior production. As regards to the result of Verspagen’s (1995) study of 15 manufacturing sectors in nine OECD countries, R&D has a positive and important impact on productivity in high-tech industries. Because of the reasons above, the dynamic relationship between Competition Power, Total Factor Productivity, Growth, and Research and Development R&D expenditure has been analyzed in this study In this scope, two models were used to compare differences between low-tech- and high-tech- intensive sectors. The other variables are GDP, R&D expenditure, and total factor productivity (TFP)
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