Economic complexity, FDI and sustainable growth: Evidence from emerging economies

Year 2025, Volume: 1 Issue: 2, 206 - 231, 27.12.2025

Aliye Nigar Çokgezer

Abstract

This study investigates the relationship between foreign direct investment (FDI), economic complexity,
and sustainable growth in selected emerging economies over the period 2010–2023. Using a panel
ARDL approach, it examines whether countries with higher levels of economic complexity are more
successful in transforming FDI inflows into long-term growth. The findings reveal that absorptive
capacity plays a crucial role: while more diversified and technology-intensive economies benefit
significantly from FDI, less complex economies face challenges in utilizing FDI effectively, thereby
limiting its contribution to growth. By uncovering the mediating role of economic complexity in the
FDI–growth nexus, this study provides a novel contribution to the literature. Furthermore, it offers
policy recommendations for emerging economies seeking to strengthen innovation capacity and
enhance industrial diversification.

Keywords

Economic Complexity , FDI , Sustainable Growth , Emerging Economies

Ekonomik karmaşıklık, DYY ve sürdürülebilir büyüme: Yükselen ekonomilere dair kanıtlar

Abstract

Bu çalışma, 2010–2023 dönemi için seçilmiş yükselen ekonomilerde doğrudan yabancı yatırım (DYY), ekonomik karmaşıklık ve sürdürülebilir büyüme arasındaki ilişkiyi incelemektedir. Panel ARDL yaklaşımını kullanarak, daha yüksek ekonomik karmaşıklık seviyesine sahip ülkelerin DYY girişlerini uzun vadeli büyümeye dönüştürmede daha başarılı olup olmadığını araştırmaktadır. Bulgular, emilim kapasitesinin kritik bir rol oynadığını göstermektedir: Üretim yapısı daha çeşitlenmiş ve teknoloji yoğun olan ekonomiler DYY’den önemli ölçüde fayda sağlarken, daha az karmaşık ekonomiler DYY’yi etkin biçimde kullanmakta zorlanmakta ve bu durum yatırımın büyümeye katkısını sınırlamaktadır. Ekonomik karmaşıklığın DYY–büyüme ilişkisindeki aracılık rolünü ortaya koyan çalışma, literatüre özgün bir katkı sunmaktadır. Ayrıca, yenilik kapasitesini güçlendirmek ve endüstriyel çeşitliliği artırmak isteyen yükselen ekonomilere yönelik politika önerileri geliştirmektedir.

Keywords

Ekonomik Karmaşıklık , DYY , Sürdürülebilir Büyüme , Yükselen Ekonomiler

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