Examining the relationship of economic development, global competition and technological innovation with panel data; example of G-20 countries

In measuring the economic development phenomenon, countries; The existence of differences in economic, demographic, social, cultural and political structures prevents this concept from being determined with a single criterion. As mentioned in the human development report on this issue, it is imperative to make a fundamental distinction between the goals and means of development. The development school is also called development economics and is examined in two separate frameworks: 'economic growth', where numerical values are expressed in the economy, and 'human development', which includes social values. Today, developments in the field of technology; It is the trigger of economic growth and the driving force of human development. In the global markets, countries desire to gain superiority in the medium and long term and to preserve their competitive structures in line with the power they have gained. There is a domino effect between the concepts of development, innovation and competitiveness in the economy. That is, developments in an innovative country increase competitiveness, and countries with competitiveness and innovation approach the level of development. Development is an important process for developing countries. Making the right economic moves in this process is of great importance for developing countries to rise to the level of developed countries and to achieve social welfare. In this study, it is aimed to investigate the relationship between competition and innovation variables and economic development in developing G-20 countries by using panel data analysis. For this purpose, 13 G-20 countries, whose data can be accessed, were examined between 1997-2018. Panel data analysis techniques were used in the study. According to the results of the study; It has been concluded that economic development, competition and innovation variables are related in the long term and there is a positive causal relationship between these variables.