THE RELATIONSHIP BETWEEN HIGH-TECH EXPORTS AND ECONOMIC GROWTH: THE CASE OF THE BRICS-T COUNTRIES:

Abstract

Besides one of the main determinants of its economic growth, country's technology level plays catalizitor role that ensure that basic elements that enables to rank at top of international competations. The more the countries develop, the more share of use of technology, economies have, and even the world has been reshaped to be the countries that produce and consume technology.

Economic growth models are categorized into two main group as endogenous and exeneous model based on the technology perspective. While exeneous growth models claim that technology is not affected by economic developments but determines the growth in the long term, technology is considered together with economic developments according to internal growth models. Thus, technology has been included  into economic growth estimations by the endegenous models.  Foreign trade theories have also evolved from classical models to new models and then technology has become more prominent and technology has become one of the basic elements that determine the trade.  In many foreign trade models such as, Posner's (1961) ""Technology Gap. Model"" and Vernon's (1966) ""Product Periods Theorem"" etc., technology has been put forward as the determinant of trade among the countries.

From this point of view, the aim of this study is to examine the relationship between technology exports and growth in BRICS-T countries between 2006-2022 by using panel data econometric methods. In this context, panel unit root and co-integration tests are applied that consider the cross-sectional dependence. Econmetric results of the analysis provide that fixed capital investments and exports of information and communication technologies have a positive effect on GDP.