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Investment development path: Brazil-Turkey comparison

Year 2021, Volume: 3 Issue: 2, 142 - 149, 08.12.2021

Abstract

The main purpose of this study is to examine the investment development path hypothesis, which suggests a dynamic relationship between countries' economic development levels and net foreign investment positions. In this context, by including Brazil and Turkey in the study, both the validity of the hypothesis was tested and the countries were compared in the context of the hypothesis. In the analysis, GDP and net foreign investment position variables belonging to Brazil and Turkey in the period of 1990-2019 were used. In the analysis of the mentioned relationship, as with the basic model, the model in which the first and second powers of the independent variable take place was used. Then, the model with higher powers of the independent variable is tested. As a result of the analysis, it was seen that the model with higher powers of the independent variable gave better results.

References

  • Aydın, N. (2021). Türkiye’nin yatırım-gelişme yolu. Bolu Abant İzzet Baysal Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 21(1):43–61. Doi: 10.11616/basbed.v21i60671.855565.
  • Barry, F., Görg, H., & Mcdowell, A. (2003). Outward FDI and the investment development path of a late-industrializing economy: Evidence from Ireland. Regional Studies, 37(4):341–49. Doi: 10.1080/0034340032000074389.
  • Bellak, C. (2000). The investment development path of Austria. C. 75. Wienna.
  • Boudier-Bensebaa, F. (2008). FDI-assisted development in the light of the investment development path paradigm: Evidence from central and eastern european countries. Transnational Corporations 17(1):37–63.
  • Buckley, P. J., & Castro F.B. (1998). The investment development path: The case of Portugal. Transnational Corporations 7(1):1–15.
  • Cechella, C., Francisco B. Castro, Dentinho, T., & Silva, J. (2012). The Brazilian economy position on the Investment Development Path (IDP). Regional Science Inquiry, IV(2), 29–39.
  • Divarci, A., Hısarcıklılar, M, Kayalıca, O.M., & Kayam, S.S. (2005). Foreign direct ınvestment and development in MENA countries. Discussion Papers in ITU Management Engineering, 34367,1–22.
  • Dunning, J.H. & Narula, R. (1996). The ınvestment-development path revisited: some emerging ıssues, Dunning; J.H. ve R; Narula (ed.). İçinde. Foreign direct ınvestment and govennents: Catalysts for economic restructuring. London: Routledge (s.1–41).
  • Dunning, J. (1988). The eclectic paradigm of international production: A restatement and some possible extensions. Journal of International Business Studies, 19, 1–31.
  • Dunning, J. H. (1981). Explaining the ınternational direct ınvestment position of countries: Towards a dynamic and development approach. Weltwirtschaftliches Archiv, 117, 30–64.
  • Dunning, J. H. (2001). The electic (ALI) paradigm of ınternational productions: past, present and future. International Journal of the Economics of Business 8(2), 173–90.
  • Elistrom, E. & Engblad, N. (2009). The ınvestment development path of Brazil. Lund University.
  • Fonseca, M., Mendonça, A. & Passos, J. (2007). The investment development path hypothesis: Evidence from the Portuguese case – A panel data analysis. Lisbon.
  • Goldstein, A., & Pusterla, F. (2010). Emerging economies’ multinationals: General features and specificities of the Brazilian and Chinese cases. International Journal of Emerging Markets, 5(3/4), 289–306.
  • Gorynia, M., J. Nowak, & Wolniak, R. (2009). Poland’s ınvestment development path: In search of a synthesis. International Journal of Economic Policy in Emerging Economies, 2(2),153–74.
  • Gorynia, M., J. Nowak, ve R. Wolniak. (2008). Poland’s ınvestment development path and ındustry structure of FDI inflows and outflows. Journal of East-West Business, 14(2),189–212. Doi: 10.1080/10669860802050318.
  • Iacovoiu, V.B. & Panait, M. (2014). The limitation of ınvestment development path theory- European Union case. Economic Insights–Trends and Challenges, III(4):33–40.
  • Kaliszuk, E., & Wancio, A. (2014). The investment development path in the context of Poland’s accession to the European Union and the global financial and economic crisis. İçinde. International business and institutions after the financial crisis, (p.109–29)
  • Kazgan, G. (2004). Türkiye ekonomisinde krizler (1929-2001): Ekonomi politik açısından bir irdeleme. (2. Baskı), İstanbul: İstanbul Bilgi Üniversitesi Yayınları.
  • Kula, F. (2003). Yatırım-genişleme yolu yaklaşımı: Teori ve Türkiye üzerine ampirik gözlemler. Atatürk Üniversitesi İktisadi ve İdari Bilimler Fakültesi 17(3–4), 57–78.
  • Kuzel, M. (2017). The ınvestment development path: evidence from Poland and other countries of the Visegrád group. Journal of East-West Business, 23(1),1–40. Doi: 10.1080/10669868.2016.1180659.
  • Narula, R., & J. Guimon. (2010). The investment development path in a globalised world: implications for Eastern Europe. Eastern Journal of Europeans Studies,1(2),5–19.
  • Nistor, P. (2014). FDI and economic growth, the case of Romania. Procedia Economics and Finance, 15, 577–82.
  • Oktar, S., ve Dalyancı, L. (2010). Finansal kriz teorileri ve Türkiye ekonomisinde 1990 sonrası finansal krizler. Marmara Üniversitesi İ.İ.B.F. Dergisi, XXIX (II),1–22.
  • Özmen; M. (2003). Kasım 2000- Şubat 2001 ekonomik krizleri ve göller bölgesi mermercilik sektörüne etkileri. Süleyman Demirel Üniversitesi Sosyal Bilimler Enstitüsü. Isparta
  • Şahin; H. (2006). Türkiye Ekonomisi. (8. Baskı). Bursa: Ezgi Kitapevi.
  • Staoian, A. & Becherescu, R. (2013). Financial crises of the last two decades and the issues to be addressed. SEA- Practical Application of Science 1(1), 200–211.
  • Steger, M. B. (2004). Küreselleşme. Ankara: Dost Yayınları.
  • UNCTAD. (2020). Foreign direct ınvestmet database. United Nations Conference on Trade and Development. Erişim Adresi (12.05.2021): https://unctadstat.unctad.org/EN/.
  • Verma, R, & Brennan, L. (2011). The investment development paththeory: evidence from India. International Journal of Emerging Markets, 6 (1),74–89.
  • Yay, T., Yay, G. G., & Yılmaz, E. (2001). Küreselleşme sürecinde finansal krizler ve finansal düzenlemeler. (1. Baskı). İstanbul: İstanbul Ticaret Odası.
  • Yazgan, Ş., Ceylan, R., & Mollavelioğlu, M.Ş. (2021). Yatırım gelişme yolu yaklaşımı üzerine bir yakınsama analizi. Sosyoekonomi Dergisi, 29(48), 489–510.
  • Yürekli, Ö. (2004). Ekonomik krizler açısından küreselleşme sürecinin gelişmekte olan ülke ekonomilerine etkileri ve Türkiye örneği (Yüksek Lisans Tezi). Süleyman Demirel Üniversitesi Sosyal bilimler Enstitüsü. Isparta
  • Żak, K. (2018). Poland’s position on the ınvestment development path. Zeszyty Naukowe SGGW w Warszawie - Problemy Rolnictwa Światowego 18(33), 515–24. Doi: 10.22630/PRS.2018.18.4.139.

Yatırım gelişme yolu: Brezilya- Türkiye karşılaştırması

Year 2021, Volume: 3 Issue: 2, 142 - 149, 08.12.2021

Abstract

Bu çalışmanın temel amacı ülkelerin ekonomik kalkınma düzeyleri ile net dış yatırım pozisyonları arasında dinamik bir ilişki olduğunu ileri süren yatırım gelişme yolu hipotezini incelemektir. Bu bağlamda çalışmaya Brezilya ve Türkiye dahil edilerek hem hipotezin geçerliliği sınanmış hem de hipotez bağlamında ülkeler karşılaştırılmıştır. Analizde 1990-2019 döneminde Brezilya ve Türkiye’ye ait GSYIH ve net dış yatırım pozisyonu değişkenleri kullanılmıştır. Söz konusu ilişkinin analiz edilmesinde temel modelle olduğu gibi bağımsız değişkenin birinci ve ikinci kuvvetlerinin yer aldığı modelden yararlanılmıştır. Daha sonrasında ise bağımsız değişkenin daha yüksek kuvvetlerinin yer aldığı model sınanmıştır. Analiz sonucunda bağımsız değişkenin daha yüksek kuvvetlerinin yer aldığı modelin daha iyi sonuçlar verdiği görülmüştür.

References

  • Aydın, N. (2021). Türkiye’nin yatırım-gelişme yolu. Bolu Abant İzzet Baysal Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 21(1):43–61. Doi: 10.11616/basbed.v21i60671.855565.
  • Barry, F., Görg, H., & Mcdowell, A. (2003). Outward FDI and the investment development path of a late-industrializing economy: Evidence from Ireland. Regional Studies, 37(4):341–49. Doi: 10.1080/0034340032000074389.
  • Bellak, C. (2000). The investment development path of Austria. C. 75. Wienna.
  • Boudier-Bensebaa, F. (2008). FDI-assisted development in the light of the investment development path paradigm: Evidence from central and eastern european countries. Transnational Corporations 17(1):37–63.
  • Buckley, P. J., & Castro F.B. (1998). The investment development path: The case of Portugal. Transnational Corporations 7(1):1–15.
  • Cechella, C., Francisco B. Castro, Dentinho, T., & Silva, J. (2012). The Brazilian economy position on the Investment Development Path (IDP). Regional Science Inquiry, IV(2), 29–39.
  • Divarci, A., Hısarcıklılar, M, Kayalıca, O.M., & Kayam, S.S. (2005). Foreign direct ınvestment and development in MENA countries. Discussion Papers in ITU Management Engineering, 34367,1–22.
  • Dunning, J.H. & Narula, R. (1996). The ınvestment-development path revisited: some emerging ıssues, Dunning; J.H. ve R; Narula (ed.). İçinde. Foreign direct ınvestment and govennents: Catalysts for economic restructuring. London: Routledge (s.1–41).
  • Dunning, J. (1988). The eclectic paradigm of international production: A restatement and some possible extensions. Journal of International Business Studies, 19, 1–31.
  • Dunning, J. H. (1981). Explaining the ınternational direct ınvestment position of countries: Towards a dynamic and development approach. Weltwirtschaftliches Archiv, 117, 30–64.
  • Dunning, J. H. (2001). The electic (ALI) paradigm of ınternational productions: past, present and future. International Journal of the Economics of Business 8(2), 173–90.
  • Elistrom, E. & Engblad, N. (2009). The ınvestment development path of Brazil. Lund University.
  • Fonseca, M., Mendonça, A. & Passos, J. (2007). The investment development path hypothesis: Evidence from the Portuguese case – A panel data analysis. Lisbon.
  • Goldstein, A., & Pusterla, F. (2010). Emerging economies’ multinationals: General features and specificities of the Brazilian and Chinese cases. International Journal of Emerging Markets, 5(3/4), 289–306.
  • Gorynia, M., J. Nowak, & Wolniak, R. (2009). Poland’s ınvestment development path: In search of a synthesis. International Journal of Economic Policy in Emerging Economies, 2(2),153–74.
  • Gorynia, M., J. Nowak, ve R. Wolniak. (2008). Poland’s ınvestment development path and ındustry structure of FDI inflows and outflows. Journal of East-West Business, 14(2),189–212. Doi: 10.1080/10669860802050318.
  • Iacovoiu, V.B. & Panait, M. (2014). The limitation of ınvestment development path theory- European Union case. Economic Insights–Trends and Challenges, III(4):33–40.
  • Kaliszuk, E., & Wancio, A. (2014). The investment development path in the context of Poland’s accession to the European Union and the global financial and economic crisis. İçinde. International business and institutions after the financial crisis, (p.109–29)
  • Kazgan, G. (2004). Türkiye ekonomisinde krizler (1929-2001): Ekonomi politik açısından bir irdeleme. (2. Baskı), İstanbul: İstanbul Bilgi Üniversitesi Yayınları.
  • Kula, F. (2003). Yatırım-genişleme yolu yaklaşımı: Teori ve Türkiye üzerine ampirik gözlemler. Atatürk Üniversitesi İktisadi ve İdari Bilimler Fakültesi 17(3–4), 57–78.
  • Kuzel, M. (2017). The ınvestment development path: evidence from Poland and other countries of the Visegrád group. Journal of East-West Business, 23(1),1–40. Doi: 10.1080/10669868.2016.1180659.
  • Narula, R., & J. Guimon. (2010). The investment development path in a globalised world: implications for Eastern Europe. Eastern Journal of Europeans Studies,1(2),5–19.
  • Nistor, P. (2014). FDI and economic growth, the case of Romania. Procedia Economics and Finance, 15, 577–82.
  • Oktar, S., ve Dalyancı, L. (2010). Finansal kriz teorileri ve Türkiye ekonomisinde 1990 sonrası finansal krizler. Marmara Üniversitesi İ.İ.B.F. Dergisi, XXIX (II),1–22.
  • Özmen; M. (2003). Kasım 2000- Şubat 2001 ekonomik krizleri ve göller bölgesi mermercilik sektörüne etkileri. Süleyman Demirel Üniversitesi Sosyal Bilimler Enstitüsü. Isparta
  • Şahin; H. (2006). Türkiye Ekonomisi. (8. Baskı). Bursa: Ezgi Kitapevi.
  • Staoian, A. & Becherescu, R. (2013). Financial crises of the last two decades and the issues to be addressed. SEA- Practical Application of Science 1(1), 200–211.
  • Steger, M. B. (2004). Küreselleşme. Ankara: Dost Yayınları.
  • UNCTAD. (2020). Foreign direct ınvestmet database. United Nations Conference on Trade and Development. Erişim Adresi (12.05.2021): https://unctadstat.unctad.org/EN/.
  • Verma, R, & Brennan, L. (2011). The investment development paththeory: evidence from India. International Journal of Emerging Markets, 6 (1),74–89.
  • Yay, T., Yay, G. G., & Yılmaz, E. (2001). Küreselleşme sürecinde finansal krizler ve finansal düzenlemeler. (1. Baskı). İstanbul: İstanbul Ticaret Odası.
  • Yazgan, Ş., Ceylan, R., & Mollavelioğlu, M.Ş. (2021). Yatırım gelişme yolu yaklaşımı üzerine bir yakınsama analizi. Sosyoekonomi Dergisi, 29(48), 489–510.
  • Yürekli, Ö. (2004). Ekonomik krizler açısından küreselleşme sürecinin gelişmekte olan ülke ekonomilerine etkileri ve Türkiye örneği (Yüksek Lisans Tezi). Süleyman Demirel Üniversitesi Sosyal bilimler Enstitüsü. Isparta
  • Żak, K. (2018). Poland’s position on the ınvestment development path. Zeszyty Naukowe SGGW w Warszawie - Problemy Rolnictwa Światowego 18(33), 515–24. Doi: 10.22630/PRS.2018.18.4.139.
There are 34 citations in total.

Details

Primary Language Turkish
Subjects Economics
Journal Section Research Articles
Authors

Orkun Oral 0000-0002-1949-6355

Publication Date December 8, 2021
Submission Date May 1, 2021
Published in Issue Year 2021 Volume: 3 Issue: 2

Cite

APA Oral, O. (2021). Yatırım gelişme yolu: Brezilya- Türkiye karşılaştırması. Ardahan Üniversitesi İktisadi Ve İdari Bilimler Fakültesi Dergisi, 3(2), 142-149.