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DOĞRUDAN YABANCI YATIRIMLAR VE EKONOMİK BÜYÜME İLİŞKİSİ: GEÇİŞ ÜLKELERİ İÇİN PANEL VERİ ANALİZİ

Year 2020, Volume: 4 Issue: 1, 78 - 90, 13.04.2020

Abstract

Sürdürülebilir bir ekonomik büyüme oranının sağlanması, her ülke için ana görevlerden biridir. Geçiş ekonomilerindeki mevcut ekonomik ve politik durumda, bu görev öncelikli ve uygulaması zor bir görevdir. Buna göre, doğrudan yabancı yatırımlar geçiş ülkelerinin ekonomik büyümesinde önemli bir faktördür. Geçiş ekonomisi, merkezi olarak planlanmış bir ekonomiden pazar ekonomisine değişen ekonomilerdir. Geçiş ekonomileri, piyasaya dayalı kurumlar geliştirmeye yönelik bir dizi yapısal
dönüşümden geçmektedir.
Bu çalışmanın amacı geçiş ülkelerindeki gayri safi yurtiçi hasıla (ekonomik büyümenin göstergesi) ile doğrudan yabancı yatırım arasındaki ilişkinin varlığının (yokluğunun) belirlenmesidir. Bu amaçla değişkenler arasındaki uzun dönem ilişkisinin belirlenmesi için Westerlund panel eşbütünleşme testi yapılmıştır. Çalışmanın bulguları söz konusu ülkelerdeki politika yapıcılarına yön vermek bakımından yarar sağlayacaktır.

References

  • Ağayev, S. (2010). Doğrudan Yabanci Sermaye Yatirimlari ve Ekonomik Büyüme Ilişkisi: Geçiş Ekonomileri Örneğinde Panel Eştümleşme ve Panel Nedensellik Analizleri. Gazi Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 12(1), 159-184.
  • Al-Iriani, M. (2007). Foreign direct investment and economic growth in the GCC countries: A causality investigation using heterogeneous panel analysis. Topics in Middle Eastern and North African Economies, 9(1), 1–31.
  • Angelopoulou, A., & Liargovas, P. (2014). Foreign Direct Investment and Growth: EU, EMU and Transition Economies. Journal of Economic Integration, 470-495.
  • Apergis, N., Lyroudi, K., & Vamvakidis, A. (2008). The relationship between foreign direct investment and economic growth: evidence from transition countries. Transition Studies Review, 15(1), 37-51.
  • Athukorala, P. P. A. W. (2003, November). The impact of foreign direct investment for economic growth: A case study in Sri Lanka. In 9th International Conference on Sri Lanka Studies(Vol. 92, pp. 1-21).
  • Borensztein, E., De Gregorio, J., & Lee, J. W. (1998). How does foreign direct investment affect economic growth?. Journal of international Economics, 45(1), 115-135.
  • Carkovic, M., & Levine, R. (2002). Does FDI accelerate economic growth. Unpublished manuscript, University of Minnesota. Chakraborty, C., & Nunnenkamp, P. (2006). Economic reforms, foreign direct investment and its economic effects in India. Germany: Kieler Arbeitspapiere.
  • Choe, J. Il. (2003). Do Foreign Direct Investment and Gross Domestic Investment Promote Economic Growth? Review of Development Economics, 7(1), 44–57.
  • Chowdhury, A., & Mavrotas, G. (2006). FDI and Growth: What Causes What? World Economy, 29(1), 9–19.
  • De Mello Jr, L. R. (1997). Foreign direct investment in developing countries and growth: A selective survey. The Journal of Development Studies, 34(1), 1-34.
  • Durham, B. (2004). Absorptive Capacity and the Effects of Foreign Direct Investment and Equity Foreign Portfolio Investment on Economic Growth, European Economic Review, 48(2), 285-306.
  • Dünya Bankası, (2009). Effects of privatization and ownership in transition economies, http://documents.worldbank.org/curated/en/115.901.468330323042/pdf/WPS4811.pdf Erişim tarihi: 19.10.2019
  • Flexner, N. (2000). Foreign direct investment and economic growth in Bolivia, 1990-1998. Central Bank of Bolivia Research Paper, La Paz.
  • Ghatak, A. ve Halıcıoğlu, F. (2006). Foreign direct investment and economic growth: some evidence from across the world. MPRA Paper, No: 3565:1-15.
  • Granger, C. W., Newbold, P., & Econom, J. (1974). Spurious regressions in econometrics. Baltagi, Badi H. A Companion of Theoretical Econometrics, 557-61.
  • Grahovac, D., & Softić, S. (2017). Impact of the FDI on Unemployment rate in countries of West Balkan. Review of Innovation and Competitiveness: Journal of Economic and Social Research, 3(2), 65-82.
  • Griffiths, D., & Sapsford, D. (2004). Foreign direct investment in Mexico. New Horizons in International Business. Cheltenham, UK and Northampton, MA: Elgar, 103-27.
  • Irpan, H. M., Saad, R. M., Nor, A. H. S. M., Noor, A. H. M., & Ibrahim, N. (2016, April). Impact of foreign direct investment on the unemployment rate in Malaysia. In Journal of Physics: Conference Series (Vol. 710, No. 1, p. 012028). IOP Publishing.
  • Jantsan, S. (2013). “Geçiş ekonomilerinde Reform sürecinin Değerlendirilmesi” (Yayınlanmamış yüksek Lisans Tezi), Hacettepe Üniversitesi, Sosyal Bilimler Enstitüsü, İktisat Anabilim Dalı. Ankara
  • Khaliq, A., & Noy, I. (2007). Foreign direct investment and economic growth: Empirical evidence from sectoral data in Indonesia. Retrieved from http://www.economics.hawaii.edu/research/ workingpapers/WP_07-26.pdf
  • Khawar, M. (2005). Foreign Direct Investment and Economic Growth: A Cross-country Analysis. Global Economic Journal 5 (1): Article 8 (http://www.bepress.com/gej).
  • Li, X., & Liu, X. (2005). Foreign direct investment and economic growth: an increasingly endogenous relationship. World Development, 33(3), 393-407.
  • Lyroudi, K., Papanastasiou, J., & Vamvakidis, A. (2004). Foreign direct investment and economic growth in transition economies. South-Eastern Europe Journal of Economics, 2(1), 97-110.
  • Mankiw, N. G., Romer, D., & Weil, D. N. (1992). A contribution to the empirics of economic growth. The Quarterly Journal of Economics, 107(2), 407-437.
  • Manuchehr, I., & Ericsson, J. (2001). On the causality between foreign direct investment and output: a comparative study. The International Trade Journal, 15(1), 1–26.
  • Melnyk, L. H., Kubatko, O. V., & Pysarenko, S. (2014). The impact of foreign direct investment on economic growth: case of post communism transition economies. Problems and Perspectives in Management, 12(1), 17-24
  • Mencinger, J. (2003). Does foreign direct investment always enhance economic growth?. Kyklos, 56(4), 491- 508.
  • Nair Reichert, U., & Weinhold, D. (2001). Causality Tests for Cross Country Panels: a New Look at FDI and Economic Growth in Developing Countries. Oxford Bulletin of Economics and Statistics, 63(2), 153– 171.
  • Nath, H. K. (2009). Trade, foreign direct investment, and growth: Evidence from transition economies. Comparative Economic Studies, 51(1), 20-50.
  • Özçağ, M., Bozdaglioglu, E. Y., & Kucukkaya, H. (2018). Geçiş Ekonomilerinde Doğrudan Yabancı Yatırımların Ekonomik Büyüme Üzerine Etkisi: Dinamik Panel Veri Analizi. Business and Economics Research Journal, 10(1), 41-54.
  • Pesaran, M. H. (2007). A simple panel unit root test in the presence of cross‐section dependence. Journal of Applied Econometrics, 22(2), 265-312.
  • Sapienza, E. (2010). Foreign direct investment and growth in Central, Eastern and Southern Europe. Investigación Económica, 99-138.
  • Sarkar, P. (2007). Does Foreign Direct Investment Promote Growth? Panel data and Time Series Evidence from Less Developed Countries, 1970-2002. MPRA, 6(5176), 1–23.
  • Sevüktekin, M., & Çınar, M. (2014). Ekonometrik Zaman Serileri Analizi, Dora Yayıncılık, 4. Baskı, Bursa.
  • Shaikh, F. M. (2010). Causality Relationship Between Foreign Direct Investment, Trade and Economic Growth In Pakistan. International Business Research, 11–18
  • Stamatiou, P., & Dritsakis, N. (2014). The impact of foreign direct investment on the unemployment rate and economic growth in Greece: A time series analysis. In International Work-Conference on Time Series Analysis (ITISE) (Vol. 1, pp. 97-108).
  • Strat, V. A., Davidescu, A., & Paul, A. M. (2015). FDI and the unemployment-a causality analysis for the latest EU members. Procedia Economics and Finance, 23, 635-643.
  • Syzdykova, A. (2019). Doğrudan Yabancı Yatırımların Ekonomik Büyüme Üzerine Etkisi: Orta Asya Ülkeleri Örneği. Uluslararası Kültürel ve Sosyal Araştırmalar Dergisi (UKSAD), 5(1), 291-307.
  • Syzdykova, A., Tanrıoven, C., Nahipbekova, S., & Kuralbayev, A. (2019). The effects of changes in oil prices on the russian Economy. Revista ESPACIOS, 40(14).
  • Tatoğlu, F. Y. (2012). Panel veri ekonometrisi. Beta Yayınevi.
  • Teker, S., Tuzla, H., & Pala, A. (2014). Foreign direct investments: Asian and European transition economies. International Journal of Economics and Financial Issues, 4(1), 71-82.
  • Umoh, O. J., Jacob, A. O., & Chuku, C. A. (2012). Foreign direct investment and economic growth in Nigeria: An analysis of the endogenous effects. Current Research Journal of Economic Theory, 4(3), 53-66.
  • Walter, W. & Clague, Ch. (1992). “The Transition to a Market Economy”, The Emergence of Market Economies in Eastern Europe, Oxford University, Oxford
  • Westerlund, J. (2007). Testing for error correction in panel data. Oxford Bulletin of Economics and Statistics, 69(6), 709-748.
  • Zhang, K. H., & Song, S. (2001). Promoting exports: the role of inward FDI in China. China Economic Review, 11(4), 385-396.
Year 2020, Volume: 4 Issue: 1, 78 - 90, 13.04.2020

Abstract

References

  • Ağayev, S. (2010). Doğrudan Yabanci Sermaye Yatirimlari ve Ekonomik Büyüme Ilişkisi: Geçiş Ekonomileri Örneğinde Panel Eştümleşme ve Panel Nedensellik Analizleri. Gazi Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 12(1), 159-184.
  • Al-Iriani, M. (2007). Foreign direct investment and economic growth in the GCC countries: A causality investigation using heterogeneous panel analysis. Topics in Middle Eastern and North African Economies, 9(1), 1–31.
  • Angelopoulou, A., & Liargovas, P. (2014). Foreign Direct Investment and Growth: EU, EMU and Transition Economies. Journal of Economic Integration, 470-495.
  • Apergis, N., Lyroudi, K., & Vamvakidis, A. (2008). The relationship between foreign direct investment and economic growth: evidence from transition countries. Transition Studies Review, 15(1), 37-51.
  • Athukorala, P. P. A. W. (2003, November). The impact of foreign direct investment for economic growth: A case study in Sri Lanka. In 9th International Conference on Sri Lanka Studies(Vol. 92, pp. 1-21).
  • Borensztein, E., De Gregorio, J., & Lee, J. W. (1998). How does foreign direct investment affect economic growth?. Journal of international Economics, 45(1), 115-135.
  • Carkovic, M., & Levine, R. (2002). Does FDI accelerate economic growth. Unpublished manuscript, University of Minnesota. Chakraborty, C., & Nunnenkamp, P. (2006). Economic reforms, foreign direct investment and its economic effects in India. Germany: Kieler Arbeitspapiere.
  • Choe, J. Il. (2003). Do Foreign Direct Investment and Gross Domestic Investment Promote Economic Growth? Review of Development Economics, 7(1), 44–57.
  • Chowdhury, A., & Mavrotas, G. (2006). FDI and Growth: What Causes What? World Economy, 29(1), 9–19.
  • De Mello Jr, L. R. (1997). Foreign direct investment in developing countries and growth: A selective survey. The Journal of Development Studies, 34(1), 1-34.
  • Durham, B. (2004). Absorptive Capacity and the Effects of Foreign Direct Investment and Equity Foreign Portfolio Investment on Economic Growth, European Economic Review, 48(2), 285-306.
  • Dünya Bankası, (2009). Effects of privatization and ownership in transition economies, http://documents.worldbank.org/curated/en/115.901.468330323042/pdf/WPS4811.pdf Erişim tarihi: 19.10.2019
  • Flexner, N. (2000). Foreign direct investment and economic growth in Bolivia, 1990-1998. Central Bank of Bolivia Research Paper, La Paz.
  • Ghatak, A. ve Halıcıoğlu, F. (2006). Foreign direct investment and economic growth: some evidence from across the world. MPRA Paper, No: 3565:1-15.
  • Granger, C. W., Newbold, P., & Econom, J. (1974). Spurious regressions in econometrics. Baltagi, Badi H. A Companion of Theoretical Econometrics, 557-61.
  • Grahovac, D., & Softić, S. (2017). Impact of the FDI on Unemployment rate in countries of West Balkan. Review of Innovation and Competitiveness: Journal of Economic and Social Research, 3(2), 65-82.
  • Griffiths, D., & Sapsford, D. (2004). Foreign direct investment in Mexico. New Horizons in International Business. Cheltenham, UK and Northampton, MA: Elgar, 103-27.
  • Irpan, H. M., Saad, R. M., Nor, A. H. S. M., Noor, A. H. M., & Ibrahim, N. (2016, April). Impact of foreign direct investment on the unemployment rate in Malaysia. In Journal of Physics: Conference Series (Vol. 710, No. 1, p. 012028). IOP Publishing.
  • Jantsan, S. (2013). “Geçiş ekonomilerinde Reform sürecinin Değerlendirilmesi” (Yayınlanmamış yüksek Lisans Tezi), Hacettepe Üniversitesi, Sosyal Bilimler Enstitüsü, İktisat Anabilim Dalı. Ankara
  • Khaliq, A., & Noy, I. (2007). Foreign direct investment and economic growth: Empirical evidence from sectoral data in Indonesia. Retrieved from http://www.economics.hawaii.edu/research/ workingpapers/WP_07-26.pdf
  • Khawar, M. (2005). Foreign Direct Investment and Economic Growth: A Cross-country Analysis. Global Economic Journal 5 (1): Article 8 (http://www.bepress.com/gej).
  • Li, X., & Liu, X. (2005). Foreign direct investment and economic growth: an increasingly endogenous relationship. World Development, 33(3), 393-407.
  • Lyroudi, K., Papanastasiou, J., & Vamvakidis, A. (2004). Foreign direct investment and economic growth in transition economies. South-Eastern Europe Journal of Economics, 2(1), 97-110.
  • Mankiw, N. G., Romer, D., & Weil, D. N. (1992). A contribution to the empirics of economic growth. The Quarterly Journal of Economics, 107(2), 407-437.
  • Manuchehr, I., & Ericsson, J. (2001). On the causality between foreign direct investment and output: a comparative study. The International Trade Journal, 15(1), 1–26.
  • Melnyk, L. H., Kubatko, O. V., & Pysarenko, S. (2014). The impact of foreign direct investment on economic growth: case of post communism transition economies. Problems and Perspectives in Management, 12(1), 17-24
  • Mencinger, J. (2003). Does foreign direct investment always enhance economic growth?. Kyklos, 56(4), 491- 508.
  • Nair Reichert, U., & Weinhold, D. (2001). Causality Tests for Cross Country Panels: a New Look at FDI and Economic Growth in Developing Countries. Oxford Bulletin of Economics and Statistics, 63(2), 153– 171.
  • Nath, H. K. (2009). Trade, foreign direct investment, and growth: Evidence from transition economies. Comparative Economic Studies, 51(1), 20-50.
  • Özçağ, M., Bozdaglioglu, E. Y., & Kucukkaya, H. (2018). Geçiş Ekonomilerinde Doğrudan Yabancı Yatırımların Ekonomik Büyüme Üzerine Etkisi: Dinamik Panel Veri Analizi. Business and Economics Research Journal, 10(1), 41-54.
  • Pesaran, M. H. (2007). A simple panel unit root test in the presence of cross‐section dependence. Journal of Applied Econometrics, 22(2), 265-312.
  • Sapienza, E. (2010). Foreign direct investment and growth in Central, Eastern and Southern Europe. Investigación Económica, 99-138.
  • Sarkar, P. (2007). Does Foreign Direct Investment Promote Growth? Panel data and Time Series Evidence from Less Developed Countries, 1970-2002. MPRA, 6(5176), 1–23.
  • Sevüktekin, M., & Çınar, M. (2014). Ekonometrik Zaman Serileri Analizi, Dora Yayıncılık, 4. Baskı, Bursa.
  • Shaikh, F. M. (2010). Causality Relationship Between Foreign Direct Investment, Trade and Economic Growth In Pakistan. International Business Research, 11–18
  • Stamatiou, P., & Dritsakis, N. (2014). The impact of foreign direct investment on the unemployment rate and economic growth in Greece: A time series analysis. In International Work-Conference on Time Series Analysis (ITISE) (Vol. 1, pp. 97-108).
  • Strat, V. A., Davidescu, A., & Paul, A. M. (2015). FDI and the unemployment-a causality analysis for the latest EU members. Procedia Economics and Finance, 23, 635-643.
  • Syzdykova, A. (2019). Doğrudan Yabancı Yatırımların Ekonomik Büyüme Üzerine Etkisi: Orta Asya Ülkeleri Örneği. Uluslararası Kültürel ve Sosyal Araştırmalar Dergisi (UKSAD), 5(1), 291-307.
  • Syzdykova, A., Tanrıoven, C., Nahipbekova, S., & Kuralbayev, A. (2019). The effects of changes in oil prices on the russian Economy. Revista ESPACIOS, 40(14).
  • Tatoğlu, F. Y. (2012). Panel veri ekonometrisi. Beta Yayınevi.
  • Teker, S., Tuzla, H., & Pala, A. (2014). Foreign direct investments: Asian and European transition economies. International Journal of Economics and Financial Issues, 4(1), 71-82.
  • Umoh, O. J., Jacob, A. O., & Chuku, C. A. (2012). Foreign direct investment and economic growth in Nigeria: An analysis of the endogenous effects. Current Research Journal of Economic Theory, 4(3), 53-66.
  • Walter, W. & Clague, Ch. (1992). “The Transition to a Market Economy”, The Emergence of Market Economies in Eastern Europe, Oxford University, Oxford
  • Westerlund, J. (2007). Testing for error correction in panel data. Oxford Bulletin of Economics and Statistics, 69(6), 709-748.
  • Zhang, K. H., & Song, S. (2001). Promoting exports: the role of inward FDI in China. China Economic Review, 11(4), 385-396.
There are 45 citations in total.

Details

Primary Language Turkish
Subjects Business Administration
Journal Section Makaleler
Authors

Aziza Syzdykova This is me 0000-0002-1377-0026

Publication Date April 13, 2020
Published in Issue Year 2020 Volume: 4 Issue: 1

Cite

APA Syzdykova, A. (2020). DOĞRUDAN YABANCI YATIRIMLAR VE EKONOMİK BÜYÜME İLİŞKİSİ: GEÇİŞ ÜLKELERİ İÇİN PANEL VERİ ANALİZİ. Journal of Research in Economics, 4(1), 78-90.