International Journal of Business and Economic Sciences Applied Research

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2 Internatonal Journal of Busness and Economc Scences Appled Research IJBESAR jbesar.teemt.gr The Nexus Between Research and Development and Export Decson: The Case of Turkey ESRA BALLI 1 ÇİLER SİGEZE 2 1 Çukurova Unversty, FEAS, Department of Economcs, Adana, Turkey 2 Çukurova Unversty, FEAS, Department of Econometrcs, Adana, Turkey ARTICLE INFO Artcle Hstory Receved 26 September 2016 Accepted 15 September 2017 JEL Classfcatons F14, L60, C25 Keywords: Research and Development, Export decson, Bvarate Probt estmaton approach, Turkey ABSTRACT Purpose The purpose of ths paper s to present an nvestgaton nto the relatonshps between Research and Development (R&D) and export decsons n Turkey. We emprcally test to what extent frms R&D and export decsons are determned on the bass of frm-specfc characterstcs such as labour productvty, total sales, age, skll, captal ntensty, foregn ownershp and transfer of technology. Desgn/methodology/approach: Data used n ths study was extracted from the World Bank s Turkey-Enterprse Survey conducted n 2013 and 2014 n a cross-secton study undertaken n face-to-face ntervews wth the establshments. Bvarate Probt estmaton s utlzed. Fndngs: Our man fndngs show that learnng by examnng the export effect s nvald for Turkey. Addtonally, as expected, government support and the transfer of technology ncreases the probablty of a decson to export. Furthermore, both export and R&D decsons exhbts substantal dfferences on the bass of frm characterstcs. Research lmtatons/mplcatons: Our prncple fndngs lead to the mplcaton that Turksh government support for small frms can partcularly be employed as a mechansm to cope aganst the obstacles posng lmtatons on small frms to make a decson to export. Orgnalty/value: The novelty of ths study s that t uses data extracted from one of the most recent and relable surveys conducted by the World Bank on the behavour of frms n Turkey. Eastern Macedona and Thrace Insttute of Technology 1. Introducton The relatonshp between Research and Development (R&D) and the decson to export has been of great nterest n frm-level studes. An ncrease n a frm s R&D expendture s regarded as one of the man strateges to deal wth competton stemmng from globalzaton. Theoretcal and emprcal studes show a postve relatonshp between a frms R&D ablty and export capablty. Most exstng studes on export-orented growth agree that an export-orented polcy s a encourages exporters to learn advanced knowledge, resultng n hgher productvty. In partcularly, Cohen and Levnthal (1989) argue that nvestment n R&D has outcomes n two drectons: The frst one s to drect productvty gans through nnovaton, and the second one s learnng by exportng. Substantally, there are two hypotheses outlned regardng productvty of exportng frms: The frst s the self-selecton hypothess that asserts that only the most productve frms are more lkely to enter nto export markets, snce engagng n foregn trade mples greater costs related to operatng n those foregn countres. Secondly, the learnng by exportng hypothess affrms that exportng frms can have access to ther trade Correspondng Author: ESRA BALLI E : sraball@cu.edu.tr DOI: /jbesar successful strategy for developng economes, as t leads to hgher output growth and allows exporters to learn advanced foregn technologes. Accordngly, access to advanced foregn technologes n nternatonal markets partners and compettors nformaton sets, engenderng a further productvty gan for the exportng frm. Ths study ams to nvestgate the extent that the patterns observed n the behavour of Turksh frms are n lne wth 34

3 the dscussons n lterature, usng a dataset obtaned from the World Bank s recent mcro-level survey on Turksh frms. Our man motvaton stems from the fact that a lmted number of studes were undertaken on ths n Turkey despte the fact that the ssue poses mportant polcy mplcatons. In partcular, we place a specal emphass on the relatonshp between R&D and export decsons n Turkey, as well as on the presence of selfselecton and learnng by the export hypothess. Ths artcle s arranged as follows; the followng secton presents a lterature revew on the relatonshp between exports and R&D decsons. The thrd secton brefly detals developments n export and R&D expendture n Turkey. The data and varables are presented n secton four. We present the emprcal strategy and emprcal results n the ffth and sxth sectons respectvely. The conclusons are presented n the seventh secton. 2. Lterature Revew Most emprcal studes have agreed that R&D plays a crucal role n a frm s export decson and ts productvty. Yasar and Rejesus (2005) appled the Propensty Score Matchng technque and Dfference-In- Dfference estmators to shed lght upon the valdty of self-selecton and learnng by exportng for Turkey durng the perod of They found the symptoms of learnng by exportng n Turkey. In a further study, Maggon (2012) examnes the relatonshp between exports and productvty for Turkey dependng on Yasar ve Rejesus (2005) s methodology for the perod of The author fnds evdence n favour of both self-selecton hypothess and learnng by exportng. Aldan and Gunay (2008) fnd that whle larger and more productve frms self-select nto export market, exportng ncreases labour productvty and employment for Turkey. Aw and Hwang (1995) pont out that there are sgnfcant dfferences n productvty levels between exporters and non-exporters n ther study. Hall and Maresse (1995) report that a sustaned R&D expendture causes productvty gans. Crépon et al. (1998) also concludes that there s a postve correlaton between productvty and R&D. Srthanpong (2016) fnds that Tha frms decson to partcpate n R&D actvtes s postvely affected by ther government s support. Golovko and Valentn (2011) fnd that frms that nvest n nnovaton are consderably more lkely to export. Van Beveren and Vandenbussche (2010) report that frms selfselect R&D actvtes to enter nto the export market. Ito and Puck (1993) ndcate that frms export rato s not related the frms R&D actvtes. Bravo-Ortega et al. (2014) fnd that frms n Chle engagng n R&D actvtes have a hgher tendency to export. R&D expendture and related export decsons are not always an easy choce for frms. Wakeln (1998) argues that smaller frms may not opt for allocatng resources to R&D and enterng the export markets because of snkng costs rsk and cost of searchng out new markets. Yang and Chen (2012) fnd that R&D has a sgnfcant mpact on both productvty and exports. * In partcular, Özler, Taymaz and Ylmaz (2009) present evdence that Turksh frms are hghly constraned by these costs of entry to export markets. Basle (2001) tests the relatonshp between nnovaton and export behavour of Italan manufacturng frms usng the Tobt model. In the study, export behavour s used as a probablty of a frm to export and as the propensty to export for the exportng frms. The results ndcate that nnovaton actvtes measured by R&D expendture are mportant and make an explanaton of heterogenety n export behavour of Italan frms. Grffth et al. (2006) nvestgate the mportance of nnovaton n productvty usng R&D expendture, nnovaton output, and productvty for four European countres and found that the level of nnovaton actvtes determnes productvty level. Bernard and Jensen (1999) fnd that frms wth hgher productvty are nclned to export and that plant sze s postvely assocated wth the decson to export, despte the gans of exportng for the frms beng ambguous n terms of productvty and wage -growth. Aw et al. (2007) fnd that frm productvty leads to export decson and there s an evdence of a postve, statstcally sgnfcant and robust relatonshp between export partcpaton and future productvty. Grma et al. (2008) examne the two-way relatonshp between R&D and export actvty usng a Bvarate Probt estmaton technque for frm level databases for Great Brtan and the Republc of Ireland. They fnd that prevous exportng experence ncrease the nnovatve capablty of Irsh frms. Caldera (2010) analyses the relatonshp between nnovaton and the export behavour of frms applyng random effects of the probt model usng frm-level survey data for the perod for Spansh frms over the perod R&D ntensty s used as one of the nnovaton nputs n ths study. The emprcal results show that nnovaton has a postve effect on the export decson. Aw et al. (2011) undertook an analyss, usng a dynamc structural model, of a producer s decson to nvest n R&D and export for the Tawanese electroncs ndustry for the perod of The results show that export decsons and nvest n R&D or technology are nter-correlated and affect future proftablty. Braymen et al. (2011) test the factors that affect new frms exportng wthn the frst four years of operaton, for the perod of n the Unted States, utlzng Bvarate Probt model. The results show that there s a postve relatonshp between a new frm's R&D decson and ts export decson. Yang and Chen (2012) nvestgate the relaton between productvty and exports and n addton, the determnants of R&D actvty n Indonesan manufacturng frms, and fnd that R&D has a sgnfcant mpact on both productvty and exports. Esteve-Pérez and Rodríguez (2013) nvestgate exports and R&D usng Bvarate Probt model for small and medum-szed enterprses n Spansh manufacturng for, the perod of The results show a clear nterdependence between export and R&D actvtes. Lööf et al. (2015) test * For more dscusson on exportng, and productvty see Wagner (2007) and the references cted theren. 35

4 jont effect of exports, nnovaton and external knowledge on total factor productvty growth for Swedsh manufacturng frms and fnd that persstent nnovators and persstent exporters can acheve hgher productvty growth through learnng, by exportng relatve to temporary nnovators and exporters. Becker and Egger (2013) fnd that frms that nnovate are more lkely to engage n export actvtes than frms that do not nnovate. Damjan et al. (2008) provded no evdence for the hypothess that nnovaton ncreases the chance of becomng a frst-tme exporter. Çetn and Cncera (2015) fnd that frms engagng n R&D actvtes and frms exports decsons are correlated for EU countres. Neves et al. (2016) assert that export actvtes lead to an ncrease n R&D nvestment n Portugal. Lechevaler and Ito (2010) fnd that frms nvestng n R&D and export tend to mantan R&D or export. Ths paper focuses on two types of relatonshps depcted n the lterature. In the frst place, we attempt to nvestgate how the frms export decson and R&D decson are determned based on the frm s specfc characterstcs, ncludng, total sales, foregn ownershp of the company, government support, labour productvty, age, skll, captal ntensty. Secondly, we take nto account the nteracton between export and R&D decsons for Turksh manufacturng frms. Therefore, examnng the factors determnng R&D decson for companes nforms well-targeted government polces. 3. Developments n export and R&D expendture n Turkey Startng from the 1980s, replacng the mportsubsttutng strategy, Turkey has mplemented an export-led growth polcy, rasng the mportance of the nteracton among export, research and development (R&D) expendtures, and ultmately, the country s economc growth. Table 1 shows exports and R&D expendtures n Turkey between 1996 and Table 1: Turksh exports and R&D expendtures durng Year Exports (% of GDP) Exports (current mllon US$) R&D (% of GDP) Patent applcatons, resdents , ,66 0, , ,62 0, , ,51 0, , ,40 0, , ,40 0, , ,58 0, , ,96 0, , ,96 0, , ,27 0, , ,06 0, , ,56 0, , ,00 0, , ,49 0, , ,03 0, , ,47 0, , ,02 0, , ,37 0, , ,32 0, Source: World Development Indcators It can be argued that mport-led growth polcy s determnedly mplemented n Turkey. Turksh exports ncreased durng the last two decades except durng global fnancal crses. The momentum loss suffered durng the fnancal crss was quckly overcome n 2011 for a steady ncrease n exports. Turkey exhbts qute poor performance n terms of R&D share n GDP and patent applcatons by % of populaton, relatve to OECD countres, although t does shows sgns of ganng momentum n the last number of years. 36

5 Fgure 1. Import and Export Composton of Turkey n 2014 Source: TURKSTAT, 2014 The correspondng sectors n Fgure 1 respectvely are (1) food and lve anmals; (2) beverages and tobacco; (3) crude materals, nedble, except fuels; (4) mneral fuels, lubrcants and related materals; (5) anmal and vegetable ols, fats and waxes; (6) chemcals and related products; (7) manufactured goods classfed chefly by materal; (8) machnery and transport equpment; (9) mscellaneous manufactured artcles and (10) commodtes and transactons not classfed elsewhere n the SITC. Accordng to the Fgure 1 Turkey has net exports n food and lvestock and manufactured goods classfed chefly by materal, whereas a hgh dependency on mports exsts n mneral fuels, lubrcants and related materals, chemcals and related products and crude materals. Needless to say, the Turksh economy depends heavly on mports of natural resources to manufacture not only domestc goods, but also exports goods, renderng Turkey vulnerable to external shocks such as ncreases n ol and natural gas prce, and, at the end of the day, weakenng Turksh exporters compettveness. Besdes, machnery and transport equpment sector gves an mportant clue about mport-export nexus n Turkey, as t exhbts a dramatc dependence on mported ntermedate goods. Inancl and Konak (2011) show that the Turksh automotve ndustry and ts sub-sectors have external dependency on export. 4. Data and Varables The data used n ths study s extracted from the World Bank s Turkey-Enterprse Survey conducted n 2013 and 2014, arsng from a cross-secton study done through face-to-face ntervews wth the establshments. In ths survey, the total number of selected samples, based on. ndustry, establshment sze and regon stratfcaton, s However, after omttng observatons wth mssng and outler responses on the varables nvolved n the emprcal model, we end up wth a sample sze of 694. The advantage of the data used n ths study les n that t consttutes the most recent sample set avalable, reflectng the behavours of frms from dfferent dmensons such as ndustry, establshment sze and regons n Turkey. In addton, ths data gves nformaton on export and R&D actvtes of frms and other frm characterstcs. Followng Yang and Chen (2012), we proxy the characterstc of the frms n terms of nternatonal tes by a dummy varable structured to ndcate a gven frm s foregn ownershp (MNC). In ths pont, t should be noted that emprcal studes on the effect of foregn ownershp on frm s R&D decsons show conflctng and ambguous results. Lall (1983), for example, found that foregn ownershp s a catalyst for a frm to ntate hgher R&D actvty. On the contrary, Lundn et al. (2007) showed that domestc frms are more nclned to spend more on R&D. In addton to foregn ownershp varable, we nclude captal ntensty n our emprcal specfcaton. To ths end, as suggested by Yang and Chen (2012), captal ntensty varable s calculated by the authors as total sales per employee. Last but not least, followng Özler, Taymaz and Ylmaz (2009), we nclude varable transfer of technology from overseas through know-how and lcense agreements as a proxy for a frm s technology transfer. Table 2 presents descrptve statstcs and defntons of the varables. 37

6 Table 2. Varable defntons and summary statstcs Varable Defntons mean Std. Dev. R&D EXPO RT Dummy R&D: Dummy varable equals 1 f frm has performed export Dummy Export: Dummy varable equals 1 f frm has performed export lnkl Captal ntensty: total sales per employee dtech Dummy Technology Transfer: Dummy varable equals 1 f frm has performed transfer of technology sales Total sales of the frm skll Rato of unversty graduates to total employees mnc Frm s Foregn ownershp lpr Labour productvty: as a rato of total sales to workng hours govsu p If the frm has receved any supports from the natonal, regonal or local governments or European Unon sources wthn last three years age Age of the frm Emprcal Strategy In ths paper, we nvestgate the possble relatonshp between export decson and R&D decson n Turkey. Gven that both export decson and R&D decson are correlated and nterdependent, the error terms of these equatons are hghly lkely to be correlated. To handle ths, we smultaneously model export and R&D decsons, utlzng a recursve Bvarate Probt model. Bvarate Probt estmates a maxmum lkelhood of two-equaton probt models n obtanng parameters of the two smultaneous equatons. On the other hand, n the recursve Bvarate Probt model, the endogenous varable R&D appears on the rght-hand sde of the frst equaton for export (Greene, 2003, s. 715). Followng Aw et al. (2007), Grma et al. (2007) and Arste et al. (2013) the emprcal model takes the followng form; ì1 EXPORT = í î0 R & D ì1 = í î0 f f f f EXPORT * > 0 EXPORT * < 0 R & D * > 0 R & D * < 0 ìexport = g 0 1R & D 2dtech 3skll 4 lnage 5govsup+ g 6lpr 7 lnsales í î R & D = a 0 1dtech 2 lnkl 3skll 4 lnage 5mnc 6govsup+ a 7 lnsales Ths strategy allows the correlaton between the two dependent varables and the error terms wth N (0, 1) nature. Here r denotes the covarance of the error terms n two smultaneous equatons, takng the value of 0 f two decsons n the equatons are taken separately. Hence r s defned as follows: æ e1 ç èe 2, ö éæ0ö æ 1 ~ N êç, ç ø ëè0ø è r r öù ú 1 øû 6. Emprcal Results Table 3 presents recursve Bvarate Probt regressons results. In ths settng, we smultaneously estmate the determnants of the R&D and export decsons. The results show that there s no evdence of the presence of learnng by exportng effect. Addtonally, we can state that transfer of technology (dtech), and skll varables are postvely assocated wth both export and R&D decsons. Furthermore, we cannot reject the null hypothess that captal ntensty (lnkl) has no mpact on R&D decson. Besdes, frms age (lnage) and the total sales (lnsales) are postvely and sgnfcantly assocated wth export decson. Ths fndng mples that younger 38

7 frms are more nclned to ntate wth export actvtes. On the other hand, gven the data set and econometrc technques appled, there s evdence that Turksh government-support plays a stmulatng role n both export and R&D decsons. Consderng the determnants of export decson of Turksh frms, our estmates ndcate that government support ncreases export decson. In addton, skll measured as a rato of unversty graduates to total employees and frm age have sgnfcantly postve effects on export decson. These fndngs show that the more experenced frm, n terms of year of establshment tend to export decson more relatve to younger frms. Lastly, frms employng unversty graduates are more lkely to engage n export decson. Ths may stem from the fact that exportng human captal s an mportant factor n reactng to nternatonal markets. Table 3: Bvarate Probt Regressons Results R&D Decson Export Decson Constant *** *** (0.597) (0.356) R&D *** lnkl (0.152) (0.279) skll 0.016*** 0.012*** (0.004) (0.003) lnage *** mnc * (0.240) (0.155) (0.007) govsup 0.413** 0.587*** (0.203) (0.173) lpr ( ) lnsales *** (0.129) (0.052) dtech 0.349** 0.244** Wald ch *** r 0.916** Number of observatons 694 (0.159) (0.114) Fgures n the parentheses are standard devatons, ***, ** and * denote coeffcent are sgnfcant at 1%,5%, and 10% statstcal levels, respectvely. 7. Concluson In ths work, we nvestgated the relatonshp between R&D decson and exportng actvty by usng data from the World Bank s Turkey-Enterprse Survey conducted n 2013 and 2014 n a cross-secton study done through face-to-face ntervews wth the establshments, usng Bvarate Probt estmaton approach. In partcular, we focus on the relatonshp between R&D and export decsons. Gven the data set and econometrc technques appled, the emprcal results show that the learnng by export effect s nvald for Turkey. Overall, Turkey lacks one of the most mportant pllars of nternatonal trade, learnng by exportng, gven the present structure and emprcal results. Ths mples that fundamental transformaton s needed to tackle the barrers lmtng the potental of learnng by exportng. In ths sense, the mportance of R&D must be understood by the government and frms to ncrease and sustan the benefts of nternatonal trade. Besdes government subsdes and transfer of technology ncreases the probablty of a frm's export decson, as expected. In other words, government support encourages frms to partcpate nto export and R&D decson. Accordngly, ths fndng sgnals that government support for small frms can partcularly be 39

8 employed as a mechansm to cope aganst the obstacles posng lmtatons on small Turksh frms to take export decsons. Our fndngs are n agreement wth that of Esteve-Pérez et al. (2013) argung that the nterrelaton between R&D and export should be consdered by polcy makers. Ths s an Open Access artcle dstrbuted under the terms of the Creatve Commons Attrbuton Lcence References Aldan, A., and Gunay, M., 2008, Entry to export markets and productvty: analyss of matched frms n Turkey (No. 0805). Arste, D., Castellan, D., & Franco, C., 2013, Frms exportng and mportng actvtes: s there a two-way relatonshp?, Revew of World Economcs, 149(1), pp Aw, B. Y. and Hwang, A. R. M., 1995, Productvty and the export market: A frm-level analyss, Journal of development economcs, 47(2), pp Aw, B. Y., Roberts, M. J. and Wnston, T., 2007, Export market partcpaton, nvestments n R&D and worker tranng, and the evoluton of frm productvty, The World Economy, 30(1), pp Aw, B. Y., Roberts, M. J. and Xu, D. Y., 2011, R&D nvestment, exportng, and productvty dynamcs, Amercan Economc Revew, pp Basle, R., 2001, Export behavour of Italan manufacturng frms over the nnetes: the role of nnovaton, Research polcy, 30(8), pp Becker, S. O., & Egger, P. H., 2013, Endogenous product versus process nnovaton and a frm s propensty to export, Emprcal Economcs, pp Bernard, A. B. and Jensen, J. B., 1999, Exceptonal exporter performance: cause, effect, or both?, Journal of nternatonal economcs, 47(1), pp Braymen, C., Brggs, K. and Boulware, J., 2011, R&D and the export decson of new frms, Southern Economc Journal, 78(1), pp Bravo-Ortega, C., Benavente, J. M., & González, Á., 2014, Innovaton, exports, and productvty: Learnng and self-selecton n Chle, Emergng Markets Fnance and Trade, 50(sup1), pp Caldera, A., 2010, Innovaton and exportng: evdence from Spansh manufacturng frms, Revew of World Economcs, 146(4), pp Cohen, W. M., and Levnthal, D. A., 1989, Innovaton and learnng: the two faces of R & D, The economc journal, 99(397), pp Crépon, B., Duguet, E. and Maressec, J., 1998, Research, Innovaton and Productvty: An Econometrc Analyss At The Frm Level, Economcs of Innovaton and New technology, 7(2), pp Çetn, D., & Cncera, M., 2015, Crcular Causalty of R&D and Export n EU countres, World Journal of Appled Economcs, 1(1), pp Damjan, J. P., Kostevc, Č., & Polanec, S., 2008, From nnovaton to exportng or vce versa? Causal lnk between nnovaton actvty and exportng n Slovenan mcrodata, LICOS Dscusson Paper 204. Esteve-Pérez, S. and Rodríguez, D., 2013, The dynamcs of exports and R&D n SMEs, Small Busness Economcs, 41(1), pp Grma, S., Görg, H. and Hanley, A., 2008, R&D and exportng: A comparson of Brtsh and Irsh frms, Revew of World Economcs, 144(4), pp Golovko, E. and Valentn, G., 2011, Explorng the complementarty between nnovaton and export for SMEs growth, Journal of nternatonal busness Studes, 42(3), pp Greene, W. H., 2003, Econometrc analyss, Pearson Educaton Inda. Grffth, R., Huergo, E., Maresse, J., and Peters, B., 2006, Innovaton and productvty across four European countres, Oxford revew of economc polcy,22(4), pp Hall, B. H. and Maresse, J., 1995, Explorng the relatonshp between R&D and productvty n French manufacturng frms, Journal of econometrcs, 65(1), pp Inancl S. & Konak A., 2011, Türkye de İhracatın İthalata Bağımlılığı: Otomotv Sektörü. Esksehr Osmangaz Unverstes IIBF dergs, 6(2), pp Ito, K., & Puck, V., 1993, R&D spendng, domestc competton, and export performance of Japanese manufacturng frms, Strategc Management Journal, 14(1), pp Lall, S., 1983, Determnants of R&D n an LDC: The Indan engneerng ndustry. Economcs Letters, 13(4), pp

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