THE IMPACT OF R&D EXPENDITURE ON ECONOMIC GROWTH: A COMPATIVE ANALYSIS OF BRIC-T COUNTRIES

Abstract

R&D, the driving force of sustainable growth in the globalizing world economy, has gained importance in recent years. The willingness of economies to achieve sustainable growth rates clearly demonstrated the role of R&D in economic growth in the 1980s theories of internal growth. The basic hypothesis of the research The relationship between R & D expenditure and economic growth was examined using the panel data model for the BRIC-T countries for the period 2010-2015. The result of the research shows that the R & D expenditures produced are positively affecting growth. In this context, living standards, including industrialized countries, and those seeking to accelerate economic growth can be the result of focusing on R & D investments. The effect of R & D expenditure on export was analyzed in this study, by panel data regression analysis using data from 2010-2015 in BRIC-T countries.