PANEL ESTIMATION OF THE EFFECT OF HIGH TECHNOLOGY EXPORT ON ECONOMIC GROWTH IN OECD COUNTRIES

Abstract

High tech export which is one of the determinants of economic growth, is an important factor in catching developed countries
for the developing countries. Exports of high technology products are important for regional development as well as economic
growth. High tech exports increase the total value added in production. In this study, we test the long-term relationship between
economic growth and high-tech product exports for the 14 OECD countries preferred between 1989 and 2015. Variables such
as investment and FDI have been added as explanatory variables. The Total number of patents have been added to the model
as a control variable. According to the model results, there is a positive relationship between high technology product exports
and economic growth. If high tech exports increase %1 leads to an increase in the growth rate of 0.0044%. Foreign direct
investments and fixed capital formations have a positive contribution to economic growth.