The role of R&D investments effects on economic growth

Economic growth has always been the most important agenda of countries and has been extensively studied by many economists. R&D, which is considered to be one of the main determinants of growth, has become one of the most important tools in increasing the level of development of countries. Today, the importance given to R & D activities has increased with the increasing importance of activities in science, technology and innovation. In this study, the role of R&D activities on economic growth has been tried to be explained especially through OECD, The EU and The G-20 member countries, which are the most important economic organizations today. The study, between 2015 and 2018 timeframe, Turkey, World, OECD, the EU and the G-20 countries, removing various end up over spending of GDP and R&D, wishes to draw attention to the importance of R&D investments. In the first part of this study, a brief historical summary based on classical economic growth theories is given. Then, modern growth theories, which show R&D among the factors of economic growth, are mentioned. In the second section which follows immediately, modern growth theories are developed and R&D based growth models are presented. In the third section, the last section, a general definition of R&D is given and various indicators are used to measure R&D and to compare with international data. Using these data in the world, the OECD, The EU, The G-20 countries and the status of R&D spending in Turkey is evaluated in a comparative manner."