TİCARİ AÇIKLIK VE FİNANSAL GELİŞMENİN DOĞRUDAN YABANCI YATIRIMLAR ÜZERİNDEKİ ETKİSİ: OECD ÜLKELERİ ÜZERİNE DİNAMİK PANEL VERİ ANALİZİ

Year 2014, Volume: 28 Issue: 1, 125 - 147, 03.02.2014

Murat Çetin , Fahri Seker

Abstract

Bu çalışmanın amacı, 1996-2011 döneminde OECD ülkeleri için
ticari açıklık ve finansal gelişmenin doğrudan yabancı yatırımlar üzerindeki
etkisini ampirik olarak araştırmaktır. Lineer panel veri modelleri için önerilen
sistem GMM tahmincisi kullanılarak, ticari açıklık ve finansal gelişme
değişkenlerinin uzun dönemde doğrudan yabancı yatırımlar ile pozitif olarak
ilişkili olduğu belirlenmiştir. Panel VAR modeline dayalı Granger nedensellik
test sonuçları ise bu değişkenlerden doğrudan yabancı yatırımlara doğru işleyen
bir nedensellik tespit etmiştir. Böylece, ampirik sonuçlar OECD ülkelerinde
ticari açıklık ve finansal gelişmenin doğrudan yabancı yatırımların belirleyicileri
olduğunu ortaya koymaktadır. Bu çalışma, bazı politika çıkarımları
sunabilmektedir.

Keywords

Ticari Açıklık, Finansal Gelişme, Doğrudan Yabancı Yatırımlar, Dinamik Panel Veri, Nedensellik

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