EKONOMİK KOMPLEKSİTE, İHRACAT VE SABİT SERMAYE YATIRIMLARININ KİŞİ BAŞINA DÜŞEN GELİR ÜZERİNDEKİ ETKİSİ: G-20 ÜLKELERİ ÖRNEĞİ
Journal Title: Mehmet Akif Ersoy Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi - Year 2019, Vol 6, Issue 2
Abstract
Ülkelerin ihracat hacimlerinin büyüklüğünden ziyade, ihracatın kompozisyonunun önem kazandığı günümüz dünya ekonomisinde, ülkelerin ne denli sofistike ürünler ürettikleri ve ihraç ettikleri o ekonominin kompleksite derecesini göstermektedir. Bu çalıĢmada G-20 topluluğundaki 18 ülke çerçevesinde; ekonomik kompleksite indeksi, ihracat ve sabit sermaye yatırımı değiĢkenlerinin kiĢi baĢına düĢen gelir üzerindeki etkisi incelenmektedir. Analiz sonuçları Brezilya, Çin, Almanya, Endonezya, Japonya, Meksika, Güney Kore, Türkiye ve ABD için ekonomik kompleksite indeksinin kiĢi baĢına düĢen gelir üzerinde pozitif etkiye sahip olduğu bir iliĢki ortaya koyarken; Arjantin, Avustralya, Kanada, Suudi Arabistan ve BirleĢik Krallık için negatif etkiye sahip bir iliĢki ortaya koymaktadır. Brezilya hammadde ve ara mal niteliğindeki birincil ürünlerde ihracat payı artarken mamul ürünlerde ihracat payı azalan, buna karĢılık ekonomik kompleksite düzeyi ile kiĢi baĢına düĢen gelir arasında pozitif anlamlı iliĢki elde edilen ve böylece diğer ülkelerden ayrıĢan tek ülke olma özelliği taĢımaktadır EXTENDED SUMMARY Background A country‟s growth and its long-term progress across certain stages of development is a long path-dependent process. Developed countries are successful in creating sophisticated products and maintaining sustainability of this. To produce a sophisticated product while achieving high added value requires a mechanism design. The main and most significant component of this mechanism design is capabilities. In the short term, it is not possible for a country‟s economy from its current production to leap into the manufacturing of products, which require capabilities that are more advanced. However, this transition may be realized in the long term. As mentioned above, in order to bring out a sophisticated product by designing a mechanism, as well as the capabilities of the economy, it is necessary to combine these capabilities and determine the complexity level of the products by forming a set of capabilities. In a country, the ability to use the information generated both in individual and in corporate level has a significant role. Studies in literature show that developed countries have varied information to produce and export products that are more complex, and they can use this information collectively. In the context of developing countries, the importance of human capital in manufacturing technologically sophisticated products in order to escape from middle-income trap (MIT) is brought to attention and it is stated that those countries, which succeed in escaping this trap, portray a structural transformation by performing high productivity and knowledge intensive manufacturing practices. It is possible to increase income per capita by increasing the degree of “economic complexity”. Purpose In this study, the effects of economic complexity index, export and fixed capital investment variables on income per capita is investigated for G-20 countries. It is believed that the results obtained will have significant effect within the context of developing countries. Method This article consists of 4 sections. In the first section, growth, development and economic complexity terms are evaluated in the context of developed and developing countries. In the second section, the limitations of the study, hypothesis and data are discussed. In the third section, fixed capital investment, economic growth and economic complexity relation are detailed pursuant to the literature. In the fourth section, country data are gathered for panel data analysis using random coefficient regression, and graphical information based on the results obtained from the countries are provided. Findings and Conclusions As a result of the econometric analysis, the effect of economic complexity on income per capita is positive for Brazil, China, Germany, Indonesia, Japan, Mexico, South Korea, Turkey and USA. This finding coincides with the expectations supported by other studies in the literature. On the other hand, negative relationship between the aforementioned two variables is detected for Argentina, Australia, Canada, Saudi Arabia and United Kingdom. It is important to clarify this negative relationship. For this reason, in the scope of internationally accepted SITC Rev 3 classification, the variance of export shares of primary and manufactured products for 18 countries included in the analysis over time is reviewed. In Brazil, which has a positive relation among the variables, is reviewed, it is seen that reforms in agriculture have increased the sophistication degree of agricultural products. In Saudi Arabia, the negative relationship between variables state the presence of a cyclic relationship as can be seen in the graphic. Therefore, even though exportation and the income per capita increase in Saudi Arabia, this will not be sustainable. These countries should tend towards sophisticated products with high added value and release from raw material dependent growth strategy. With this study, it set forth that especially developing countries should realize export sophistication and increase their level of economic complexity by developing a mechanism design. Further studies should be towards integration of knowledge and capabilities of persons, corporations and other stakeholders, and designing of an effective mechanism in order to increase export sophistication.
Authors and Affiliations
Semanur Soyyiğit, Hüseyin Topuz, Halil Özekicioğlu
Keywords
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- EP ID EP637827
- DOI 10.30798/makuiibf.518334
- Views 105
- Downloads 0
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