The Impact Of Financial Development On Private R&D Expenditures:Cointegration, Causality, Impulse-Response Analyses And Variance DecompositionFor Turkey (1990-2014)

Özet

Intense competition in global markets forces private sector enterprises to allocate more sources to R&D investments. But specific high risks those investments carry lessen financing possibilities of related expenditures and make R&D expenditures dependent on development of financial system. In this article relations between financial development represented by two sub-components as credit market and stock market development and private sector R&D expenditure (% of GDP) have been searched for Turkey with 1990-2014 annual data by using cointegration, causality,…

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