Özet:

This paper aims at examining the relationship between research and development (R&D) expenditures and net sales revenues for five sectors (food, beverage, and tobacco industry, main metal industry and trimmed metal products sector, textile and textile products industry, chemical industry, and whole sale and retail trade sector) in Turkey using data over the period 1996-2013. To this end, after conducting cross-sectional dependence and heterogeneity tests, the paper employs the bootstrap panel causality test developed by K nya (2006). According to the findings, there is one-way causality running from R&D expenditures to net sales revenues in textile and textile products industry. Besides, there is one-way causality running from net sales revenues to R&D expenditures in food, beverage, and tobacco industry, main metal industry and trimmed metal products sector, and wholesale and retail trade sector. Based on the empirical findings, the paper considers some implications in the conclusion part.

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