Ekonomi TEK

Yazarlar: Erinç YELDAN

Konular:İktisat

Anahtar Kelimeler:Endogenous growth,Human capital,R&D,General equilibrium,Turkish economy,Public policy for education and R&D

Özet: The main objective of this research is to analyze and assess the interactions among knowledge-driven growth, acquisition of human capital, and strategic public policymaking for the Turkish economy within the context of a general equilibrium model. This model aims to investigate those policies that are considered to foster the development of human capital (such as investments in education) and enhance total factor productivity through direct investments in fixed capital and innovation (such as subsidies for R&D activities). Through this model, we seek answers to the following question: for a government with significant budgetary constraints, which type of public subsidization policies are more conducive to enhancing economic growth and capital accumulation: promotion of human capital formation through subsidies to education, or promotion of new R&D advances through subsidies for R&D activities? According to the model findings, a single-focus strategy of subsidizing only the education sector in order to promote human capital formation falls short of achieving desirable growth in the medium to long run. In fact, the growth and welfare results will be disappointingly weak unless increased human capital leads to a rise in the number of research personnel employed in the R&D sector. That being the case, it can be argued that public policy should be directed toward R&D promotion in the medium to long term, to complement an emphasis on education that is aimed at sustaining human capital formation.

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