The Role of Institutional Quality on FDI: A Comparison for Pre and Post – Global Financial Crises

Nur Koç; Dilek Durusu Çiftçi

doi:10.25229/beta.1491840

TR EN

Doğrudan Yabancı Yatırımlarda Kurumsal Kalitenin Rolü: Küresel Finansal Kriz Öncesi ve Sonrası İçin Bir Karşılaştırma

Abstract

Bu çalışmada, kurumsal kalite alt bileşenlerinin doğrudan yabancı yatırım (DYY) üzerindeki göreceli önemi, 1996-2021 yılları arasında en çok doğrudan yabancı yatırım çeken ülkeler için dinamik panel regresyon modeli kullanılarak araştırılmaktadır. Dünya Bankası (2023) verileri, doğrudan yabancı yatırım girişlerinin 2000'li yılların başında ciddi bir ivme kazandığını ve 2007 yılında en yüksek seviyesine ulaştığını göstermektedir. Ancak küresel finansal kriz, doğrudan yabancı yatırım girişlerinde bir dönüm noktası oluşturmuş ve sonraki yıllarda oldukça dalgalı bir seyir izlemiştir. Bu sebeple analizde küresel finansal kriz öncesi ve sonrası dönemlere odaklanılmıştır. Çalışma sonucunda, tüm kurumsal kalite göstergelerinin (hukukun üstünlüğü hariç) kriz öncesi dönemde doğrudan yabancı yatırım girişleri üzerinde olumlu etkileri olduğu ve düzenleme etkinliği, hükümet etkinliği ve yolsuzluğun kontrolünün doğrudan yabancı yatırım girişleri üzerinde nispeten daha yüksek etkiye sahip olduğu ortaya koyulmuştur. Öte yandan, doğrudan yabancı yatırım girişlerinin oldukça değişken olduğu kriz sonrası dönemde herhangi bir kurumsal kalite göstergesinin doğrudan yabancı yatırımlar üzerinde anlamlı bir etkisinin olmadığı tespit edilmiştir.

Keywords

Doğrudan Yabancı Yatırımlar, Kurumsal Kalite, Panel Veri Analizi

The Role of Institutional Quality on FDI: A Comparison for Pre and Post – Global Financial Crises

Abstract

In this study, the relative importance of institutional quality indicators on foreign direct investment (FDI) is investigated using a dynamic panel regression model for the countries that attracted the most FDI between 1996-2021. The World Bank (2023) data shows that FDI inflows gained a significant momentum at the beginning of the 2000s and reached its highest level in 2007. However, the Global Financial Crises (GFC) created a turning point in FDI inflows and it followed a very volatile course in the following years. For this reason, the analysis focused on the periods pre and post the global financial crisis. As a result of the study, it is revealed that all institutional quality indicators (except the rule of law) have positive effects on FDI inflows in the pre-crisis period, and regulatory effectiveness, government effectiveness and corruption control have a relatively higher impact on FDI inflows. On the other hand, it has been determined that no institutional quality indicator has a significant effect on foreign direct investments in the post-crisis period when FDI inflows are highly volatile.

Keywords

Foreign Direct Investments, Institutional Quality, Panel Data Analysis

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Details

Primary Language

English

Subjects

Institutional Economics Theory, International Economics (Other)

Journal Section

Research Article

Authors

Nur Koç ^*
0000-0003-4063-8802
Türkiye

Dilek Durusu Çiftçi
0000-0003-1911-4801
Türkiye

Early Pub Date

October 18, 2024

Publication Date

October 31, 2024

Submission Date

May 29, 2024

Acceptance Date

July 8, 2024

Published in Issue

Year 2024 Volume: 9 Number: 3

DOI

https://doi.org/10.25229/beta.1491840

IZ

https://izlik.org/JA99PD29GU

APA

Koç, N., & Durusu Çiftçi, D. (2024). The Role of Institutional Quality on FDI: A Comparison for Pre and Post – Global Financial Crises. Bulletin of Economic Theory and Analysis, 9(3), 699-717. https://doi.org/10.25229/beta.1491840

AMA

1.Koç N, Durusu Çiftçi D. The Role of Institutional Quality on FDI: A Comparison for Pre and Post – Global Financial Crises. Beta. 2024;9(3):699-717. doi:10.25229/beta.1491840

Chicago

Koç, Nur, and Dilek Durusu Çiftçi. 2024. “The Role of Institutional Quality on FDI: A Comparison for Pre and Post – Global Financial Crises”. Bulletin of Economic Theory and Analysis 9 (3): 699-717. https://doi.org/10.25229/beta.1491840.

EndNote

Koç N, Durusu Çiftçi D (October 1, 2024) The Role of Institutional Quality on FDI: A Comparison for Pre and Post – Global Financial Crises. Bulletin of Economic Theory and Analysis 9 3 699–717.

IEEE

[1]N. Koç and D. Durusu Çiftçi, “The Role of Institutional Quality on FDI: A Comparison for Pre and Post – Global Financial Crises”, Beta, vol. 9, no. 3, pp. 699–717, Oct. 2024, doi: 10.25229/beta.1491840.

ISNAD

Koç, Nur - Durusu Çiftçi, Dilek. “The Role of Institutional Quality on FDI: A Comparison for Pre and Post – Global Financial Crises”. Bulletin of Economic Theory and Analysis 9/3 (October 1, 2024): 699-717. https://doi.org/10.25229/beta.1491840.

JAMA

1.Koç N, Durusu Çiftçi D. The Role of Institutional Quality on FDI: A Comparison for Pre and Post – Global Financial Crises. Beta. 2024;9:699–717.

MLA

Koç, Nur, and Dilek Durusu Çiftçi. “The Role of Institutional Quality on FDI: A Comparison for Pre and Post – Global Financial Crises”. Bulletin of Economic Theory and Analysis, vol. 9, no. 3, Oct. 2024, pp. 699-17, doi:10.25229/beta.1491840.

Vancouver

1.Nur Koç, Dilek Durusu Çiftçi. The Role of Institutional Quality on FDI: A Comparison for Pre and Post – Global Financial Crises. Beta. 2024 Oct. 1;9(3):699-717. doi:10.25229/beta.1491840

Cited By

Kurumsal Kalite, Belirsizlik ve Kamu Yatırımları: Türkiye Üzerine Bir İnceleme

Mehmet Akif Ersoy Üniversitesi Uygulamalı Bilimler Dergisi

https://doi.org/10.31200/makuubd.1722308

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