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GELİŞMEKTE OLAN ÜLKELERDE ULUSLARARASI DOĞRUDAN YATIRIMLAR VE EKONOMİK BÜYÜME ETKİLEŞİMİ: PANEL EŞBÜTÜNLEŞME VE NEDENSELLİK ANALİZİ

Year 2012, Volume: 14 Issue: 2, 1 - 16, 01.12.2012

M Başaran Öztürk Kartal Demirgüneş Onur Gözbaşı

https://izlik.org/JA77MS74NK

Abstract

Ekonomik büyüme teorilerinde büyük öneme sahip olan uluslararası doğrudan yatırımlar (UDY), gelişmekte olan ülkeler için daha önemli kabul edilmektedir. Bu çalışmada, uluslararası doğrudan yatırımlar ve ekonomik büyüme arasındaki ilişkiler, 1970-2008 döneminde, gelişmekte olan 12 ülke için (Arjantin, Brezilya, Cezayir, Hindistan, Güney Kore, Malezya, Meksika, Mısır, Nijerya, Singapur, Tayland ve Türkiye) "panel eşbütünleşme" ve "panel nedensellik" yöntemleri ile analiz edilmektedir. Panel eşbütünleşme analizi sonuçları, UDY ile ekonomik büyüme arasında uzun dönemli ilişkiyi ortaya koymaktadır. Panel nedensellik analizi sonuçlarına göre ise, uzun dönemde UDY ve ekonomik büyüme arasında iki yönlü nedensellik ilişkisi mevcut iken, kısa dönemde yalnızca UDY'den ekonomik büyümeye yönelik bir nedensellik tespit edilmiştir.

Keywords

-

References

  • BAYRİ, Osman ve Bülent Güloğlu, “Hisse Senedi ve Yabancı Para Piyasalarının Entegrasyonu: Türkiye, AB, ABD Örneği”, İktisat, İşletme ve Finans, 20 (234), (2005), s. 13-34.
  • BIS (Bank for International Settlements, Private Cross-Border Foreign Investment – Its Role in Emerging Markets, BIS Note, June, Basle, 2002.
  • BROOKS, Douglas H., Emma Xiaoqin Fan and Lea R. Sumulong, “Foreign Direct Investment in Developing Asia: Trends, Effects and Likely Issues” for the forthcoming WTO Negotiations, ERD Working Paper No. 38, Economics and Research Department, Asian Development Bank, 2003.
  • CRESPO Nuno and Maria Paula Fontoura, “Determinant Factors of FDI Spillovers – What Do We Really Know?”, World Development, 35(3), (2007), s. 410-25.
  • DAS, Satya P., “Direct Foreign Investment versus Licensing”, Review of Development Economics, 3(1), (1999), s. 86-97.
  • DORUCCI, Ettore, Capital Flows to Emerging Market Economies, ECB Note, 16 January, 2003.
  • ERCAN, Metin Kamil, “Doğrudan Yabancı Yatırımlar ile Ülkenin Kalkınmışlığı ve Krizler Arasındaki İlişki”, Gazi Üniversitesi, İ.İ.B.F. Dergisi, Cilt 2, (2001), s. 81-92.
  • HAYAMI, Yujiro, Development Economics: from Poverty Alleviation to the Wealth of Nations, 2 nd Edition, Oxford University Press, New York, 2001.
  • IM, Kyung So, Hashem Pesaran and Yongcheol Shin, “Testing for Unit Roots in Heterogeneous Panels”, Journal of Econometrics, 115(1), (2003), s. 53-74.
  • LEHMANN, Alexander, “FDI in Emerging Markets: Income, Representations and Financial Vulnerabilities”, IMF Working Paper, 02/47, 2002.
  • LEVIN, Andrew and Chien-Fu Lin, “Unit Root Tests in Panel Data: Asymptotic and FiniteSample Properties”, University of California at San Diego, Economics Working Paper Series, Department of Economics, 92 (23), 1992.
  • LEVIN, Andrew, Chien-Fu Lin ve Chia-Shang James Chu, “Unit Root Tests in Panel Data: Asymptotic and Finite-Sample Properties”, Journal of Econometrics, 108(1), (2002), s. 1- 24.
  • LIM, Ewe-Ghee, “Determinants of and the Relation between Foreign Direct Investment and Growth: A Summary of Recent Literature”, IMF Working Paper, No. 175, 2001.
  • LIPSEY, Robert E., The Role of FDI in International Capital Flows, in International Capital Flows (Edt. by M. Feldstein), University of Chicago Press, Chicago, 1999.
  • MADDALA, G.S. and Shaowen Wu, “A Comparative Study of Unit Root Tests with Panel Data and A New Simple Test”, Oxford Bulletin of Economics and Statistics, 61(1), (1999), s. 631-52.
  • MOOSA, Imad, Foreign Direct Investment: Theory, Evidence and Practice, Palgrave Publications, New York, 2002.
  • NARAYAN, Paresh Kumar, Ingrid Nielsen and Russel Smyth, “Panel Data, Cointegration, Causality and Wagner's Law: Empirical Evidence from Chinese Provinces”, China Economic Review, 19(2), (2007), s. 297-307.
  • NUNNENKAMP, Peter and Julius Spatz, “Determinants of FDI in Developing Countries: Has Globalization Changed the Rules of the Game?”, Transnational Corporations, 11(2), (2002), s. 1-34.
  • Afyon Kocatepe Üniversitesi, İİBF Dergisi ( C.XIV, S II, 2012 ) 15
  • PEDRONI, Peter, “Critical Values for Cointegration Tests in Heterogeneous Panels with Multiple Regressors”, Oxford Bulletin of Economics and Statistics, Special Issue, 61, (1999), s. 653-70.
  • PEDRONI, Peter, Fully Modified OLS for Heterogeneous Cointegrated Panels, Advances in Econometrics (Book Series), 15, (2000), s. 93–130.
  • PEDRONI, Peter, “Panel Cointegration: Asymptotic And Finite Sample Properties Of Pooled Time Series Tests With An Application To The Ppp Hypothesis”, Econometric Theory, 20(3), (2004), s. 597–625.
  • PETROCHILLAS, George A., Foreign Direct Investment and Development Process, Aldershot: Avebury, 1989.
  • ROMER, Paul, “Idea Gaps and Object Gaps in Economic Development”, Journal of Monetary Economics, 32(3), (1993), s. 543-573.
  • ROOT, Franklin R. and Ahmed Ahmed, “Empirical Determinants of Manufacturing Direct Foreign Investment in Developing Countries”, Economic Development and Cultural Change, 27, (1979), s. 751-567.
  • RUFFIN, Roy J., “The Role of Foreign Direct Investment in the Economic Growth of the Asian and Pacific Region”, Asian Development Review, 11(1), (1993).
  • SCHNEIDER, Friedrich and Bruno S. Frey, “Economic and Political Determinants of Foreign Direct Investment”, World Development, 13(2), (1985), s. 161-175.
  • SINGH, Harinder and Kwang W. Jun, “Some New Evidence on Determinants of Foreign Direct Investment in Developing Countries”, World Bank Policy Research Working Paper, No. 1531, Washington D.C., 1995.
  • SUN, Haishun, “Macroeconomic Impact of Direct Foreign Investment in China: 1979-1996”, World Economy, 21(5). (1998), s. 675-94.
  • TORRISI, C. R., “The Determinants of Foreign Direct Investment in a Small LDC”, Journal of Economic Development, 10, (1985), s. 29-45.
  • UNCTAD, World Investment Report 1991: The Trial in Foreign Direct Investment, United Nations Centre on Transnational Corporations, New York, 1991.
  • UNCTAD, World Investment Report 2001: Promoting Linkages, Geneva, 2001.
  • UNCTAD, World Investment Report 2007: Transnational Corporations, Extractive Industries and Development, United Nations Centre on Transnational Corporations, New York, 2007.
  • UNCTAD 2010; “Foreign Direct Investment Database- FDI On-line”, http://stats.unctad.org/FDI/TableViewer/tableView.aspx, E.T. 10.03.2010.
  • WHEELER, David and Ashoka Mody, “International Investment Location Decisions, the Caseof Us Firms”, Journal of International Economics, 33(1/2), (1992), s. 57-76.
  • WORLDBANK 2010; “World Development Indicators”, http://ddpext.worldbank.org/ext/DDPQQ/showReport.do?method=showReport, E.T. 10.03.2010. WORLDBANK 2010a; “Country Classification”,
  • http://web.worldbank.org/WBSITE/EXTERNAL/DATASTATISTICS/0,,contentMDK:204 20458~menuPK:64133156~pagePK:64133150~piPK:64133175~theSitePK:239419,00.htm l, E.T. 10.03.2010

GELİŞMEKTE OLAN ÜLKELERDE ULUSLARARASI DOĞRUDAN YATIRIMLAR VE EKONOMİK BÜYÜME ETKİLEŞİMİ: PANEL EŞBÜTÜNLEŞME VE NEDENSELLİK ANALİZİ

Year 2012, Volume: 14 Issue: 2, 1 - 16, 01.12.2012

M Başaran Öztürk Kartal Demirgüneş Onur Gözbaşı

https://izlik.org/JA77MS74NK

Abstract

Ekonomik büyüme teorilerinde büyük öneme sahip olan uluslararası doğrudan yatırımlar (UDY), gelişmekte olan ülkeler için daha önemli kabul edilmektedir. Bu çalışmada, uluslararası doğrudan yatırımlar ve ekonomik büyüme arasındaki ilişkiler, 1970-2008 döneminde, gelişmekte olan 12 ülke için (Arjantin, Brezilya, Cezayir, Hindistan, Güney Kore, Malezya, Meksika, Mısır, Nijerya, Singapur, Tayland ve Türkiye) "panel eşbütünleşme" ve "panel nedensellik" yöntemleri ile analiz edilmektedir. Panel eşbütünleşme analizi sonuçları, UDY ile ekonomik büyüme arasında uzun dönemli ilişkiyi ortaya koymaktadır. Panel nedensellik analizi sonuçlarına göre ise, uzun dönemde UDY ve ekonomik büyüme arasında iki yönlü nedensellik ilişkisi mevcut iken, kısa dönemde yalnızca UDY'den ekonomik büyümeye yönelik bir nedensellik tespit edilmiştir.

Keywords

Uluslararası Doğrudan Yatırımlar Ekonomik Büyüme Gelişmekte Olan Ülkeler Panel Eşbütünleşme Panel Nedensellik.

References

  • BAYRİ, Osman ve Bülent Güloğlu, “Hisse Senedi ve Yabancı Para Piyasalarının Entegrasyonu: Türkiye, AB, ABD Örneği”, İktisat, İşletme ve Finans, 20 (234), (2005), s. 13-34.
  • BIS (Bank for International Settlements, Private Cross-Border Foreign Investment – Its Role in Emerging Markets, BIS Note, June, Basle, 2002.
  • BROOKS, Douglas H., Emma Xiaoqin Fan and Lea R. Sumulong, “Foreign Direct Investment in Developing Asia: Trends, Effects and Likely Issues” for the forthcoming WTO Negotiations, ERD Working Paper No. 38, Economics and Research Department, Asian Development Bank, 2003.
  • CRESPO Nuno and Maria Paula Fontoura, “Determinant Factors of FDI Spillovers – What Do We Really Know?”, World Development, 35(3), (2007), s. 410-25.
  • DAS, Satya P., “Direct Foreign Investment versus Licensing”, Review of Development Economics, 3(1), (1999), s. 86-97.
  • DORUCCI, Ettore, Capital Flows to Emerging Market Economies, ECB Note, 16 January, 2003.
  • ERCAN, Metin Kamil, “Doğrudan Yabancı Yatırımlar ile Ülkenin Kalkınmışlığı ve Krizler Arasındaki İlişki”, Gazi Üniversitesi, İ.İ.B.F. Dergisi, Cilt 2, (2001), s. 81-92.
  • HAYAMI, Yujiro, Development Economics: from Poverty Alleviation to the Wealth of Nations, 2 nd Edition, Oxford University Press, New York, 2001.
  • IM, Kyung So, Hashem Pesaran and Yongcheol Shin, “Testing for Unit Roots in Heterogeneous Panels”, Journal of Econometrics, 115(1), (2003), s. 53-74.
  • LEHMANN, Alexander, “FDI in Emerging Markets: Income, Representations and Financial Vulnerabilities”, IMF Working Paper, 02/47, 2002.
  • LEVIN, Andrew and Chien-Fu Lin, “Unit Root Tests in Panel Data: Asymptotic and FiniteSample Properties”, University of California at San Diego, Economics Working Paper Series, Department of Economics, 92 (23), 1992.
  • LEVIN, Andrew, Chien-Fu Lin ve Chia-Shang James Chu, “Unit Root Tests in Panel Data: Asymptotic and Finite-Sample Properties”, Journal of Econometrics, 108(1), (2002), s. 1- 24.
  • LIM, Ewe-Ghee, “Determinants of and the Relation between Foreign Direct Investment and Growth: A Summary of Recent Literature”, IMF Working Paper, No. 175, 2001.
  • LIPSEY, Robert E., The Role of FDI in International Capital Flows, in International Capital Flows (Edt. by M. Feldstein), University of Chicago Press, Chicago, 1999.
  • MADDALA, G.S. and Shaowen Wu, “A Comparative Study of Unit Root Tests with Panel Data and A New Simple Test”, Oxford Bulletin of Economics and Statistics, 61(1), (1999), s. 631-52.
  • MOOSA, Imad, Foreign Direct Investment: Theory, Evidence and Practice, Palgrave Publications, New York, 2002.
  • NARAYAN, Paresh Kumar, Ingrid Nielsen and Russel Smyth, “Panel Data, Cointegration, Causality and Wagner's Law: Empirical Evidence from Chinese Provinces”, China Economic Review, 19(2), (2007), s. 297-307.
  • NUNNENKAMP, Peter and Julius Spatz, “Determinants of FDI in Developing Countries: Has Globalization Changed the Rules of the Game?”, Transnational Corporations, 11(2), (2002), s. 1-34.
  • Afyon Kocatepe Üniversitesi, İİBF Dergisi ( C.XIV, S II, 2012 ) 15
  • PEDRONI, Peter, “Critical Values for Cointegration Tests in Heterogeneous Panels with Multiple Regressors”, Oxford Bulletin of Economics and Statistics, Special Issue, 61, (1999), s. 653-70.
  • PEDRONI, Peter, Fully Modified OLS for Heterogeneous Cointegrated Panels, Advances in Econometrics (Book Series), 15, (2000), s. 93–130.
  • PEDRONI, Peter, “Panel Cointegration: Asymptotic And Finite Sample Properties Of Pooled Time Series Tests With An Application To The Ppp Hypothesis”, Econometric Theory, 20(3), (2004), s. 597–625.
  • PETROCHILLAS, George A., Foreign Direct Investment and Development Process, Aldershot: Avebury, 1989.
  • ROMER, Paul, “Idea Gaps and Object Gaps in Economic Development”, Journal of Monetary Economics, 32(3), (1993), s. 543-573.
  • ROOT, Franklin R. and Ahmed Ahmed, “Empirical Determinants of Manufacturing Direct Foreign Investment in Developing Countries”, Economic Development and Cultural Change, 27, (1979), s. 751-567.
  • RUFFIN, Roy J., “The Role of Foreign Direct Investment in the Economic Growth of the Asian and Pacific Region”, Asian Development Review, 11(1), (1993).
  • SCHNEIDER, Friedrich and Bruno S. Frey, “Economic and Political Determinants of Foreign Direct Investment”, World Development, 13(2), (1985), s. 161-175.
  • SINGH, Harinder and Kwang W. Jun, “Some New Evidence on Determinants of Foreign Direct Investment in Developing Countries”, World Bank Policy Research Working Paper, No. 1531, Washington D.C., 1995.
  • SUN, Haishun, “Macroeconomic Impact of Direct Foreign Investment in China: 1979-1996”, World Economy, 21(5). (1998), s. 675-94.
  • TORRISI, C. R., “The Determinants of Foreign Direct Investment in a Small LDC”, Journal of Economic Development, 10, (1985), s. 29-45.
  • UNCTAD, World Investment Report 1991: The Trial in Foreign Direct Investment, United Nations Centre on Transnational Corporations, New York, 1991.
  • UNCTAD, World Investment Report 2001: Promoting Linkages, Geneva, 2001.
  • UNCTAD, World Investment Report 2007: Transnational Corporations, Extractive Industries and Development, United Nations Centre on Transnational Corporations, New York, 2007.
  • UNCTAD 2010; “Foreign Direct Investment Database- FDI On-line”, http://stats.unctad.org/FDI/TableViewer/tableView.aspx, E.T. 10.03.2010.
  • WHEELER, David and Ashoka Mody, “International Investment Location Decisions, the Caseof Us Firms”, Journal of International Economics, 33(1/2), (1992), s. 57-76.
  • WORLDBANK 2010; “World Development Indicators”, http://ddpext.worldbank.org/ext/DDPQQ/showReport.do?method=showReport, E.T. 10.03.2010. WORLDBANK 2010a; “Country Classification”,
  • http://web.worldbank.org/WBSITE/EXTERNAL/DATASTATISTICS/0,,contentMDK:204 20458~menuPK:64133156~pagePK:64133150~piPK:64133175~theSitePK:239419,00.htm l, E.T. 10.03.2010
There are 37 citations in total.

Details

Primary Language Turkish
Authors

This is me

M Başaran Öztürk This is me

Kartal Demirgüneş This is me

Onur Gözbaşı This is me

Submission Date September 8, 2015
Publication Date December 1, 2012
IZ https://izlik.org/JA77MS74NK
Published in Issue Year 2012 Volume: 14 Issue: 2

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