The Role of R&D Expenditures, Information and Communication Technology Products Exports and High-Technology Products Exports on Turkey’s Technological Development

Abstract

In this study, an analysis of technological development in Turkey between 2007 and 2020 was conducted using a Bayesian approach in regression analysis. Within this scope, variables affecting the Gross Domestic Product (GDP), such as Research and Development (R&D) expenditures, Information and Communication Technology (ICT) product exports, and High-Technology Product Exports (HTE), were examined. The parameters of these variables were estimated using data documents compiled from the Organisation for Economic Co-operation and Development (OECD), Global Economic Data (CEICDATA), and the official data site of the World Bank. Both classical and Bayesian methods were employed in the analysis of the obtained data. Multiple linear regression analysis encountered multicollinearity issues. Therefore, the Bayesian regression method, which is not affected by multicollinearity, was preferred over the classical method. Multiple linear Bayesian regression analyses was conducted using the WinBUGS program, and the parameters of our variables were obtained. According to the analysis results, it was determined that R&D expenditures, information and communication technology product exports, and high-technology product exports have a positive and significant relationship with Turkey's technological development.