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Abstract


Econometric Analysis of Relationship between Human Capital, Innovation and Economic Growth on Turkey
In this study; human capital, innovation and economic growth for Turkey's economy were investigated by time series analysis methods using the 1995-2018 period annual data. Real GDP per capita representing economic growth was taken as a dependent variable, domestic patent registration numbers representing innovation from independent variables, and students graduating from higher education representing the human capital variable. Besides, variables of labor and capital investments, which are considered as indicators of growth, are also included in the model. Extended Dickey-Fuller and Phillips-Perron unit root tests in determining the stability of variables, Johansen cointegration analysis in determining long term relationship, the existence of a cointegration relationship between variables, were used. Granger causality analysis was used to determine the causality relationship. As a result of the analyzes applied to the model, it was determined that there is a cointegration relationship between the variables. It has been observed that human capital and innovation have no effect on economic growth in the short term, but they have a positive effect in the long term, and capital investments and workforce affect economic growth both in the short and long term. As a result of the Granger causality analysis, bidirectional causality relationships between capital investments and economic growth, from the workforce to economic growth, from the workforce to capital investments, from human capital to innovation, were determined.

Keywords
Human capital, economic growth, innovation, times series, unit root.


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