@article{2017,title={EFFECTS ON GROWTH OF R&D EXPENDITURE IN OECD COUNTRIES: PANEL DATA ANALYSIS (1996-2015)},abstractNode={As Francis Bacon pointed out in the early 17th century, "Knowledge is a Power Source" expresses is that it shows in simplest terms the extent to which science has prosperity in terms of the prosperity and development of mankind. This statement emphasizes the importance of investing in knowledge in order to compete in the international arena along with being valid in today's information era. The first concept that comes to mind in this framework is R&D. The purpose of this study is to examine the relationship between R&D expenditure and economic growth in OECD countries. In this context, being used the 1996-2015 data, the Panel Data Causality Test for 38 OECD countries and the relationships between R&D and Growth were tested. Firstly, whether the series have unit root or not is determined by Im, Pesaran and Shin (2003) unit root test. According to the unit root test results, It has been seen that GDP and R&D series are stationary in the first difference. While R&D 1 unit increase, GDP increased by 11,484 units, that is, it has been reached the result there is a positive relationship between them.},author={Özlem ÜLGER},year={2017},journal={The Journal of Social Sciences}}