Three essays on innovation

This thesis consists of three empirical studies on innovation. The purpose of the first chapter is to examine the relationship between economic growth and innovation for 36 developed and developing countries between 1996 and 2018 using panel cointegration and panel causality analysis. The study has two main results. First, the panel causality test reveals a bidirectional causality between economic growth and the number of patent applications, and economic growth and PCT documents. Morever, there is unidirectional causality from economic growth to innovation index. Second, the results of AMG estimaton present that economic growth has positive effect on the number of patent applications and the innovation index, and the number of patent applications and PCT documents have positive effect on economic growth. The purpose of the second chapter is to examine the effect of financial development on innovation in Turkey between 1980 and 2019 using ARDL method based on time series analysis. According to the main finding, there is an inverted U-shaped relationship between financial development and innovation. The purpose of the third chapter is to examine the effect of international migration on innovation in 25 OECD countries between 2011 and 2019 using the generalized moments method based on panel data analysis. The main result of this chapter shows that there is a positive effect of international migration on the number of patent applications, high technology exports and the global innovation index. In addition, the effect of international migration on the innovation output sub-index is positive in the models, including the components of the input sub-index separately.