In spite of other economic thoughts in history, endogenous growth theories, which examine the issue of growth from a different perspective, saw R&D expenditures as a significant factor in reducing development differences, ensuring sustainable growth and development, and the resulting technological development. In this context, the study aims to measure the impact and absorptive capacity of cumulative R&D stocks on total factor productivity. In this study, domestic R&D stock and foreign R&D stock were used as dependent variables. As a result of the analysis, it was determined that the domestic R&D stock increased overall factor productivity, while the foreign R&D stock had a lowering effect in the current period.
Key words: R&D Expenditures, Economic Growth, Technology Spillover, Absorptive Capacity, Panel Data Analysis. Jel Codes: C23, L6, O33. Article Language: EnglishTurkish
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