THE RELATIONSHIP BETWEEN ECONOMIC FREEDOMS AND FOREIGN DİRECT INVESTMENTS IN BRICS-T COUNTRIES: BOOSTRAP PANEL CAUSALITY TEST

Abstract

The purpose of this study is to examine the relationship among foreign direct investments, economic freedoms and economic growth in BRICS-T countries using data for the period of 1995-2014. To this end, after conducting cross-sectional dependence and heterogeneity tests, the paper employs the bootstrap panel causality test developed by Kónya (2006). It was observed causality from economic freedoms to foreign direct investment was seen only in Turkey. It was also confirmed that the causality from economic growth to foreign direct investment was found only in South Africa. No causality relationship was found in other countries

Keywords

• Economic Freedom,BRICS-T Countries,Panel Data Analysis,Panel Data Analysis

BRICS-T ÜLKELERİNDE EKONOMİK ÖZGÜRLÜKLER VE DOĞRUDAN YABANCI SERMAYE YATIRIMLARI ARASINDAKİ İLİŞKİ: BOOTSTRAP PANEL NEDENSELLİK TESTİ

Abstract

Bu çalışmanın amacı, 1995-2014 dönemine ait verileri kullanarak BRICS-T ülkelerinde doğrudan yabancı sermaye yatırımları, ekonomik özgürlükler ve ekonomik büyüme arasındaki ilişkiyi incelemektir. Bu amaç doğrultusunda, çalışmada yatay kesit bağımlılığı ve heterojenlik testlerinin ardından Kónya (2006) tarafından geliştirilen bootstrap panel nedensellik analizi kullanmıştır. Ekonomik özgürlüklerden doğrudan yabancı sermaye yatırımlarına doğru nedenselliğin sadece Türkiye’de bulunduğu görülmüştür. Ekonomik büyümeden doğrudan yabancı sermaye yatırımlara doğru nedenselliğin ise sadece Güney Afrika’da bulunduğu tespit edilmiştir. Diğer ülkelerde herhangi bir nedensellik ilişkisine rastlanmamıştır.

Keywords

• Ekonomik Özgürlükler,BRICS-T Ülkeleri,Panel Veri Analizi

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