Is Turkey's "Technological Balance of Payments" Balanced?

Abstract

In a globalized world, the competition is coming to heat in the area of creating "new technologies", and consequently, regional integration attempts are gaining momentum. The export of advanced technological products reflects a country's ability to commercialize the results of researches and technological innovations in the international markets. In addition, the share of countries in the export of advanced technology across the world is an important indicator of the competitiveness of those countries in the global technology market. Beside the advanced technological products, countries can also purchase and sell information which is intangible. This transaction is measured via "Technological Balance of Payments" that records the technical information and services that a country conducts the export and import of. TBP may give a clearer and more accurate opinion in terms of the development of an economy when considered along with other macro-economic parameters in a holistic approach, not by its own. TBP has a few important attributes. The first one is that it measures the international technology transfer related to the licenses, patents, the know-how, research and technical assistance. The second one is that TBP is the component of general balance of payments that reveals the international commercial and economic relations in a foreign exchange-weighted and statistical way. Countries that can perform the production and commerce of technology in a rapid, quality way and in accordance with competitive rules always remain at the top of development league or push the top of the list. Today, it is evident that a country can enhance its economic, and consequently, political efficiency to the extent that it can be competent in science and technology, and therefore, innovation; and accordingly, it can be decisive in the regional and global power balance. The technological power of a country requires the competitive power along with it. While the globalization is making in what amount countries produce and use the weapon of technology, it forces Turkey to record the technological data. This study aims to discuss the application problems of science and technology and reveal the related obstacles/challenges with TBP. The subject will not be investigated quantitatively but qualitatively since no databank is available concerning TBP. (C) 2015 Published by Elsevier Ltd. This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/).