An Analysis of the Relationship between Foreign Direct Investment and Sustainable Development

Abstract

The development and welfare efforts of countries are transformed over time and creates sustainable development with an approach that considers environmental factors. If the processing of raw materials is based solely on economic benefits, it will hinder environmental and social development in the long run. Thus, the importance of sustainable development is emphasized once again with the circular economy structure. On the other hand, foreign direct investment (FDI) comes to the fore as sustainable development strategy, especially in developing economies. In this context, it is aimed to reveal whether there is a relationship between FDI and sustainable development in Turkey between 1990-2018. Unit root test, co-integration and VECM based causality analyses are included in the estimation of the relationships between these variables by using the Eviews10. The significance of causality relationship is also questioned with variance decomposition and impulse-response analysis. According to the findings, there is a cointegration relationship between the variables and they act together in the long run. In addition, there is one-way relationship from FDI to per capita GDP and per capita energy consumption; bidirectional causality between per capita GDP and per capita energy consumption; one-way relationship from FDI to sustainable development index.

Keywords

• Foreign Direct Investment
• Sustainable Development
• Economic Growth
• international economics
• causality analysis

Türkiye’de Doğrudan Yabancı Sermaye Yatırımları ve Sürdürülebilir Kalkınma İlişkisinin Analizi

Abstract

Ülkelerin kalkınma ve refah arayışları zaman içerisinde dönüşüme uğrayarak süründürülebilir gelecek ekseninde sürdürülebilir kalkınmayı doğurmaktadır. Ham maddenin işlenerek ürün haline getirilmesi sürecinin, sadece ekonomik yararlara dayalı olmasının uzun dönemde çevresel ve sosyal gelişmeye engel olacağı düşünüldüğünde, döngüsel ekonomi kurgusuyla sürdürülebilir kalkınmanın önemi bir kez daha vurgulanmaktadır. Özellikle gelişmekte olan ekonomilerde sürdürülebilir kalkınma stratejisi olarak doğrudan yabancı sermaye yatırımları (DYSY) gündeme gelmektedir. Bu bağlamda çalışmada Türkiye’de 1990-2018 yılları arasında doğrudan yabancı sermaye yatırımları ile sürdürülebilir kalkınma arasında ilişki olup olmadığının ortaya konulması amaçlanmaktadır. Bu çalışmada değişkenler arasındaki ilişkilerin tahmininde, birim kök testi, eş-bütünleşme ve VECM temelli nedensellik analizlerine yer verilmektedir. Varyans ayrıştırması ve etki-tepki analizleriyle de nedensellik ilişkisinin anlamlılığı sorgulanmaktadır. Bulgulara göre, değişkenler arasında eş-bütünleşme ilişkisi bulunmakta ve uzun dönemde birlikte hareket etmektedirler. Ayrıca, DYSY’den, kişi başı GSYİH ve kişi başı enerji tüketimine doğru tek yönlü; kişi başı GSYİH ile kişi başı enerji tüketimi arasında çift yönlü; DYSY’den sürdürülebilir kalkınma endeksine doğru ise, tek yönlü nedensellik ilişkisinin varlığı sonuçlarına ulaşılmaktadır.

Keywords

• Doğrudan Yabancı Sermaye Yatırımları
• Sürdürülebilir Kalkınma
• Uluslararası Ekonomi
• Nedensellik Analizi
• Ekonomik Büyüme

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