@article{article_1730469, title={Exploring the Bidirectional Causality between Foreign Direct Investment and Economic Growth: Panel Evidence from MINT Countries}, journal={Muhasebe ve Finansman Dergisi}, pages={231–250}, year={2025}, DOI={10.25095/mufad.1730469}, author={Özdilek Kırca, Elveda and Canbay, Şerif}, keywords={MINT Countries, Foreign Direct Investment, Economic Growth, Bootstrap Panel Causality Test}, abstract={This study aims to reveal the direction and nature of the relationship between foreign direct investment (FDI) and economic growth in MINT countries (Mexico, Indonesia, Nigeria and Türkiye). In this study, annual data for the period 1970–2023 were analyzed using the Bootstrap Panel Causality test developed by Kónya (2006). According to the results of the analysis, there is a statistically significant and positive causality relationship from economic growth to FDI in Indonesia, Nigeria and Türkiye. In the analysis conducted for Mexico, no statistically significant relationship was found. On the other hand, a statistically significant and positive causal relationship from FDI to economic growth was found only in Nigeria. The results of the study provide noteworthy implications for both policymakers and investors and emphasise that the impact of FDI on growth should be evaluated in line with country dynamics. These findings underline the importance of aligning FDI policies with each country’s structural characteristics and ensuring that foreign capital flows are directed toward productive sectors in order to support sustainable growth.}, number={108}, publisher={Muhasebe ve Finansman Öğretim Üyeleri Bilim ve Araştırma Derneği}