DÜNYA’DA TEKNOLOJİ SEKTÖRÜNÜN GELİŞİMİ ve TÜRKİYE’DEKİ TEKNOLOJİ SEKTÖRÜ ÜZERİNE ETKİSİ: FİNANSAL BİR YAKLAŞIM

Abstract

This paper examines the development and reorganization process in the high-technology industries all over the world and its effects on Turkey. We show that economic growth is dependent of the technological development level of the countries. Technological expenditures has grown substantially and technology exports constitute growing share of total exports in the world in recent years. However, the case study of Turkey shows that the country still is a technology importer country and its technology exports and expenditures are much lower than benchmark country category values. The restructuring process in the world high technology industry is appearing in the form of privatizations in Turkey. We argue that it is possible to establish a competitive telecommunications industry by privatization policy which rests on enhanced competition and more effective regulations. The examination of the high-technology companies in the stock markets show that these firms constitute a smaller part of the total market capitalization. In the other hand, high-technology companies do not have much access to the venture capital which prevents their development. We conclude that high-technology companies should be promoted by government-supported development policies which focus on better infrastructure, enhanced competition and efficient regulations.