Investigation of the Effect of R&D, Education and Health Expenditures on Economic Growth by Panel Data Analysis Method

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SOSYOEKONOMI, vol.29, no.50, pp.95-108, 2021 (ESCI) identifier

  • Publication Type: Article / Article
  • Volume: 29 Issue: 50
  • Publication Date: 2021
  • Doi Number: 10.17233/sosyoekonomi.2021.04.05
  • Journal Name: SOSYOEKONOMI
  • Journal Indexes: Emerging Sources Citation Index (ESCI), TR DİZİN (ULAKBİM)
  • Page Numbers: pp.95-108
  • Keywords: R&D, Economic Growth, Education Expenditure, Health Expenditure, Panel Data Analysis, IMPACT
  • Yozgat Bozok University Affiliated: Yes


This study aims to reveal the effects of R&D, education, and health expenditures on economic development. For this purpose, the study examines the 2000-2019 data of 45 countries in the middle upper-income and high-income country groups by panel data analysis method. Errors encountered in panel data basic assumption tests were corrected with Driscoll-Kraay standard errors. As a result, it has been determined that a one-unit increase in education and health expenditures contributes more to economic growth than one unit. In contrast, R&D expenditures have a minor positive effect on economic growth in the short run but more in the long run.