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Kurumsal Kalite Doğrudan Yabancı Yatırımlar İçin Ne Kadar Önemli? Türkiye Üzerine Ekonometrik Bir Analiz

Year 2016, Volume: 11 Issue: 44, 251 - 262, 24.10.2016
https://doi.org/10.19168/jyu.76581

Abstract

1990’lı yıllarla birlikte ekonomik kalkınma üzerine yapılan pek çok çalışmada, ülkeler arası gelişmişlik farkının kurumsal faktörlerden kaynaklanacağı dile getirilmiştir. Bu bağlamda kişisel haklar, yolsuzluk, bürokratik kalite, siyasi özgürlük gibi kurumsal kalite göstergeleri ile ekonomik risk düzeyi, özellikle kalkınma yolundaki ülkelerin dış yatırımları çekebilmesi ve bu doğrultuda büyüme hedeflerini yakalaması açısından çok önemli hale gelmiştir. Türkiye’de kurumsal kalite ve ekonomik risk düzeyinin doğrudan yabancı yatırım hacmi ve oynaklığı üzerindeki etkisinin araştırıldığı bu çalışmada, sınır testi ve ARDL metodu yardımıyla 3 farklı model tahmin edilmiştir. Yapılan ekonometrik analiz sonucunda daha kaliteli kurumsal yapı ve düşük ekonomik risk düzeyinin doğrudan yabancı yatırımlar üzerinde pozitif yönlü etkiye sahip olduğunu bulgusuna ulaşılmıştır. Çalışmanın bir diğer önemli bulgusu ise yüksek kurumsal kalite düzeyinin ülkeye gelen doğrudan yabancı yatırımların oynaklığı üzerindeki azaltıcı etkisidir.

References

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  • Aghion, Phillippe ve Peter Howitt (1992), “A Model of Growth through Creative Destruction”, Econometrica, Vol.60, No.2, ss.323-351.
  • Benassy-Quere, Agnes , Coupet, Maylis ve Mayer, Thierry (2007), “Institutional Determinants of Foreign Direct Investment”, The World Economy, Vol.30, No.5, ss. 764-782.
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  • Busse, Matthias (2004), “Transnational Corporations and Repression of Political Rights and Civil Liberties: An Empirical Analysis”, Kyklos, Vol. 57, No. 1, ss. 45-66.
  • Daude, Christian ve Stein, Ernesto (2007), “The Quality of Institutions and Foreign Direct Investment”, Economics and Politics, Vol.19, No.3, ss. 317-344.
  • Dickey, David A. ve Fuller, Wayne A.(1981), “Likelihood Ratio Tests for Autoregressive Time Series with a Unit Root”, Econometrica,Vol. 49, ss.1057-1072.
  • Engle, Robert F. ve Granger, Clive W.J. (1987), “Co-integration and Error Correction: Representation, Estimation and Testing”, Econometrica, Vol.55, No.2, ss. 251-276.
  • Globerman, S. and D. Shapiro (2002), “Global Foreign Direct Investment Flows: The Role of Governance Infrastructure”, World Development, Vol.30, No.11, ss.1899-1919.
  • Granger, Clive W. ve Newbold, Paul (1974), “Spurious Regressions in Econometrics”, Journal of Econometrics, Vol. 2, No. 2, ss.111-120.
  • Grossman, Gene ve Helpman, Elhanan (1991), Innovation and Growth in the Global Economy, MIT Press, Cambridge.
  • Gujarati, Damodar(2004), Temel Ekonometri, Literatür Yayıncılık: İstanbul.
  • Habib, Mohsin ve Zurawicki, Leon (2002), “Corruption and Foreign Direct Investment”, Journal of International Business Studies, Vol.33, No.2, ss.297-307.
  • Hall, Robert E. ve Jones, Charles I.(1999), “Why Do Some Countries Produce So Much More Output Per Worker Than Others?”, The Quarterly Journal of Economics, Vol. 114, No.1, ss. 83-116.
  • Harms, Philipp ve Ursprung, Heinrich W. (2002), “Do Civil and Political Repression Really Boost Foreign Direct Investments?”, Economic Inquiry, Vol.40, No.4, ss.651-663.
  • Javorcik, Beata S.(2004), “Does Foreign Direct Investment Increase the Productivity of Domestic Firms? In Search of Spillovers through Backward Linkages”, American Economic Review, Vol.94, No.3, ss.605-627.
  • Jensen, Nathan (2003), “Democratic Governance and Multinational Corporations: Political Regimes and Inflows of Foreign Direct Investment”, International Organization, Vol.57, No.3,ss. 587-616.
  • Johansen, Soren (1988), “Statistical Analysis of Cointegration Vectors,” Journal of Economic Dynamics and Control, Vol. 12, No. 2-3, ss. 231-254.
  • Johansen, Soren (1991), “Estimation and Hypothesis Testing of Cointegration Vectors in Gaussian Vector Autoregressive Models,” Econometrica, Vol. 59, No. 6, ss. 1551-1580.
  • Jun, Kwang ve Harinder Singh (1996), “The Determinants of Foreign Direct Investment in Developing Countries”, Transnational Corporations, Vol. 5, No. 2, ss. 67-105.
  • Kaufmann, Daniel, Kraay, Aart ve Zoido-Lobaton, Pablo(1999), “Governance Matters”, Policy Research Working Paper Series 2196, The World Bank.
  • Lee, Jeong-Yeon ve Mansfield, Edwin (1996), “Intellectual Property Protection and U.S. Foreign Direct Investment”, The Review of Economics and Statistics, Vol.78, ss.181-186.
  • Li, Quan ve Resnick, Adam (2003), "Reversal of Fortunes: Democratic Institutions and Foreign Direct Investment Inflows to Developing Countries." International Organization, Vol.57, ss.175- 211.
  • Lucas, Robert (1988), “On the Mechanics of Economic Development”, Journal of Monetary Economics, Vol.22, No.1, ss.3-42.
  • North, Dauglas ve Thomas, Robert P.(1973), The Rise of the Western World: A New Economic History, Cambridge University Press, Cambridge, UK.
  • North, Douglass C.(1990), Institutions, Institutional Change and Economic Performance, Cambridge: Cambridge University Press.
  • OECD (2002). Foreign Direct Investment for Development: Maximising Benefits, Minimising Costs. http://www.oecd.org/dataoecd/47/51/1959815.pdf
  • Pesaran, Hashem ve Shin, Yongcheol (1999), “An Autoregressive Distributed-Lag Modelling Approach to Cointegration Analysis”, (Editör: Steinar Storm), Econometrics and Economic Theory in the 20th Century: the Ragnar Frisch Centennial Symposium, Cambridge: Cambridge University Press, ss. 371-413.
  • Pesaran, Hashem, Shin Yongcheol ve Smith Richard (2001), “Bounds Testing Approaches to the Analysis of Level Relationship”, Journal of Applied Econometrics, Vol.16, No.(3), ss. 289-326.
  • Phillips, Peter ve Perron Pierre (1988), “Testing for a Unit Root in Time Series Regression”. Biometrica, Vol.75, No.2, ss. 335-346.
  • Romer, Paul M. (1986), “lncreasing Returns and Long-run Growth”, Journal of Political Economy, Vol.94, No.5, ss.1002-1037.
  • Romer, Paul M. (1990), “Endogenous Technical Change”, Journal of Political Economy, Vol. 98, ss.71-102.
  • Smarzynska, Beata(1999), Composition of Foreign Direct Investment and Protection of Intellectual Property Rights in Transition Economies, Centre for Economic Policy Research (CEPR) Working Paper.
  • Solow, R.M. (1956), “A Contribution to the Theory of Economic Growth”, Quarterly Journal of Economics, Vol.70, No.1, ss.65-94.
  • Stein, Ernesto ve Daude, Christian(2001), “Institutions, Integration and the location of Foreign Direct Investment”, OECD conference New Horizons and Policy Challenges for Foreign Direct Investment in the 21st century, Mexico, November.
  • Wei, Shang-Jin (1997), How Taxing is Corruption on International Investors?, NBER Working Paper No. 6030.
  • Wei, Shang-Jin (2000), “How Taxing is Corruption on Internal Investors?”, Review of Economics and Statistics,Vol. 82, No.1, ss. 1-11.
  • Wheeler, David ve Mody, Ashoka (1992), “International Investment Location Decisions. The Case of U.S. Firms”, Journal of International Economics, Vol.33, No.1-2, ss.57-76.
  • Zivot, E. ve Wang, Jiahui (2006), Modelling Financial Time Series with S-PLUS, Second Edition. Springer Publishing.
Year 2016, Volume: 11 Issue: 44, 251 - 262, 24.10.2016
https://doi.org/10.19168/jyu.76581

Abstract

References

  • Acemoğlu, Daron, Johnson, Simon ve Robinson, James A. (2005), “Institutions as a Fundamental Cause of Long-Run Growth” Handbook of Economic Growth, (edt.) Philippe Aghion ve Stephen Durlauf, Elsevier, Amsterdam, ss.386-469.
  • Aghion, Phillippe ve Peter Howitt (1992), “A Model of Growth through Creative Destruction”, Econometrica, Vol.60, No.2, ss.323-351.
  • Benassy-Quere, Agnes , Coupet, Maylis ve Mayer, Thierry (2007), “Institutional Determinants of Foreign Direct Investment”, The World Economy, Vol.30, No.5, ss. 764-782.
  • Busse, Matthias ve Hefeker, Carsten (2005), Political Risk, Institutions and Foreign Direct Investment, HWWA Discussion Paper, Paper No.315.
  • Busse, Matthias (2004), “Transnational Corporations and Repression of Political Rights and Civil Liberties: An Empirical Analysis”, Kyklos, Vol. 57, No. 1, ss. 45-66.
  • Daude, Christian ve Stein, Ernesto (2007), “The Quality of Institutions and Foreign Direct Investment”, Economics and Politics, Vol.19, No.3, ss. 317-344.
  • Dickey, David A. ve Fuller, Wayne A.(1981), “Likelihood Ratio Tests for Autoregressive Time Series with a Unit Root”, Econometrica,Vol. 49, ss.1057-1072.
  • Engle, Robert F. ve Granger, Clive W.J. (1987), “Co-integration and Error Correction: Representation, Estimation and Testing”, Econometrica, Vol.55, No.2, ss. 251-276.
  • Globerman, S. and D. Shapiro (2002), “Global Foreign Direct Investment Flows: The Role of Governance Infrastructure”, World Development, Vol.30, No.11, ss.1899-1919.
  • Granger, Clive W. ve Newbold, Paul (1974), “Spurious Regressions in Econometrics”, Journal of Econometrics, Vol. 2, No. 2, ss.111-120.
  • Grossman, Gene ve Helpman, Elhanan (1991), Innovation and Growth in the Global Economy, MIT Press, Cambridge.
  • Gujarati, Damodar(2004), Temel Ekonometri, Literatür Yayıncılık: İstanbul.
  • Habib, Mohsin ve Zurawicki, Leon (2002), “Corruption and Foreign Direct Investment”, Journal of International Business Studies, Vol.33, No.2, ss.297-307.
  • Hall, Robert E. ve Jones, Charles I.(1999), “Why Do Some Countries Produce So Much More Output Per Worker Than Others?”, The Quarterly Journal of Economics, Vol. 114, No.1, ss. 83-116.
  • Harms, Philipp ve Ursprung, Heinrich W. (2002), “Do Civil and Political Repression Really Boost Foreign Direct Investments?”, Economic Inquiry, Vol.40, No.4, ss.651-663.
  • Javorcik, Beata S.(2004), “Does Foreign Direct Investment Increase the Productivity of Domestic Firms? In Search of Spillovers through Backward Linkages”, American Economic Review, Vol.94, No.3, ss.605-627.
  • Jensen, Nathan (2003), “Democratic Governance and Multinational Corporations: Political Regimes and Inflows of Foreign Direct Investment”, International Organization, Vol.57, No.3,ss. 587-616.
  • Johansen, Soren (1988), “Statistical Analysis of Cointegration Vectors,” Journal of Economic Dynamics and Control, Vol. 12, No. 2-3, ss. 231-254.
  • Johansen, Soren (1991), “Estimation and Hypothesis Testing of Cointegration Vectors in Gaussian Vector Autoregressive Models,” Econometrica, Vol. 59, No. 6, ss. 1551-1580.
  • Jun, Kwang ve Harinder Singh (1996), “The Determinants of Foreign Direct Investment in Developing Countries”, Transnational Corporations, Vol. 5, No. 2, ss. 67-105.
  • Kaufmann, Daniel, Kraay, Aart ve Zoido-Lobaton, Pablo(1999), “Governance Matters”, Policy Research Working Paper Series 2196, The World Bank.
  • Lee, Jeong-Yeon ve Mansfield, Edwin (1996), “Intellectual Property Protection and U.S. Foreign Direct Investment”, The Review of Economics and Statistics, Vol.78, ss.181-186.
  • Li, Quan ve Resnick, Adam (2003), "Reversal of Fortunes: Democratic Institutions and Foreign Direct Investment Inflows to Developing Countries." International Organization, Vol.57, ss.175- 211.
  • Lucas, Robert (1988), “On the Mechanics of Economic Development”, Journal of Monetary Economics, Vol.22, No.1, ss.3-42.
  • North, Dauglas ve Thomas, Robert P.(1973), The Rise of the Western World: A New Economic History, Cambridge University Press, Cambridge, UK.
  • North, Douglass C.(1990), Institutions, Institutional Change and Economic Performance, Cambridge: Cambridge University Press.
  • OECD (2002). Foreign Direct Investment for Development: Maximising Benefits, Minimising Costs. http://www.oecd.org/dataoecd/47/51/1959815.pdf
  • Pesaran, Hashem ve Shin, Yongcheol (1999), “An Autoregressive Distributed-Lag Modelling Approach to Cointegration Analysis”, (Editör: Steinar Storm), Econometrics and Economic Theory in the 20th Century: the Ragnar Frisch Centennial Symposium, Cambridge: Cambridge University Press, ss. 371-413.
  • Pesaran, Hashem, Shin Yongcheol ve Smith Richard (2001), “Bounds Testing Approaches to the Analysis of Level Relationship”, Journal of Applied Econometrics, Vol.16, No.(3), ss. 289-326.
  • Phillips, Peter ve Perron Pierre (1988), “Testing for a Unit Root in Time Series Regression”. Biometrica, Vol.75, No.2, ss. 335-346.
  • Romer, Paul M. (1986), “lncreasing Returns and Long-run Growth”, Journal of Political Economy, Vol.94, No.5, ss.1002-1037.
  • Romer, Paul M. (1990), “Endogenous Technical Change”, Journal of Political Economy, Vol. 98, ss.71-102.
  • Smarzynska, Beata(1999), Composition of Foreign Direct Investment and Protection of Intellectual Property Rights in Transition Economies, Centre for Economic Policy Research (CEPR) Working Paper.
  • Solow, R.M. (1956), “A Contribution to the Theory of Economic Growth”, Quarterly Journal of Economics, Vol.70, No.1, ss.65-94.
  • Stein, Ernesto ve Daude, Christian(2001), “Institutions, Integration and the location of Foreign Direct Investment”, OECD conference New Horizons and Policy Challenges for Foreign Direct Investment in the 21st century, Mexico, November.
  • Wei, Shang-Jin (1997), How Taxing is Corruption on International Investors?, NBER Working Paper No. 6030.
  • Wei, Shang-Jin (2000), “How Taxing is Corruption on Internal Investors?”, Review of Economics and Statistics,Vol. 82, No.1, ss. 1-11.
  • Wheeler, David ve Mody, Ashoka (1992), “International Investment Location Decisions. The Case of U.S. Firms”, Journal of International Economics, Vol.33, No.1-2, ss.57-76.
  • Zivot, E. ve Wang, Jiahui (2006), Modelling Financial Time Series with S-PLUS, Second Edition. Springer Publishing.
There are 39 citations in total.

Details

Journal Section Articles
Authors

Şerife Özşahin

Publication Date October 24, 2016
Published in Issue Year 2016 Volume: 11 Issue: 44

Cite

APA Özşahin, Ş. (2016). Kurumsal Kalite Doğrudan Yabancı Yatırımlar İçin Ne Kadar Önemli? Türkiye Üzerine Ekonometrik Bir Analiz. Yaşar Üniversitesi E-Dergisi, 11(44), 251-262. https://doi.org/10.19168/jyu.76581
AMA Özşahin Ş. Kurumsal Kalite Doğrudan Yabancı Yatırımlar İçin Ne Kadar Önemli? Türkiye Üzerine Ekonometrik Bir Analiz. Yaşar Üniversitesi E-Dergisi. October 2016;11(44):251-262. doi:10.19168/jyu.76581
Chicago Özşahin, Şerife. “Kurumsal Kalite Doğrudan Yabancı Yatırımlar İçin Ne Kadar Önemli? Türkiye Üzerine Ekonometrik Bir Analiz”. Yaşar Üniversitesi E-Dergisi 11, no. 44 (October 2016): 251-62. https://doi.org/10.19168/jyu.76581.
EndNote Özşahin Ş (October 1, 2016) Kurumsal Kalite Doğrudan Yabancı Yatırımlar İçin Ne Kadar Önemli? Türkiye Üzerine Ekonometrik Bir Analiz. Yaşar Üniversitesi E-Dergisi 11 44 251–262.
IEEE Ş. Özşahin, “Kurumsal Kalite Doğrudan Yabancı Yatırımlar İçin Ne Kadar Önemli? Türkiye Üzerine Ekonometrik Bir Analiz”, Yaşar Üniversitesi E-Dergisi, vol. 11, no. 44, pp. 251–262, 2016, doi: 10.19168/jyu.76581.
ISNAD Özşahin, Şerife. “Kurumsal Kalite Doğrudan Yabancı Yatırımlar İçin Ne Kadar Önemli? Türkiye Üzerine Ekonometrik Bir Analiz”. Yaşar Üniversitesi E-Dergisi 11/44 (October 2016), 251-262. https://doi.org/10.19168/jyu.76581.
JAMA Özşahin Ş. Kurumsal Kalite Doğrudan Yabancı Yatırımlar İçin Ne Kadar Önemli? Türkiye Üzerine Ekonometrik Bir Analiz. Yaşar Üniversitesi E-Dergisi. 2016;11:251–262.
MLA Özşahin, Şerife. “Kurumsal Kalite Doğrudan Yabancı Yatırımlar İçin Ne Kadar Önemli? Türkiye Üzerine Ekonometrik Bir Analiz”. Yaşar Üniversitesi E-Dergisi, vol. 11, no. 44, 2016, pp. 251-62, doi:10.19168/jyu.76581.
Vancouver Özşahin Ş. Kurumsal Kalite Doğrudan Yabancı Yatırımlar İçin Ne Kadar Önemli? Türkiye Üzerine Ekonometrik Bir Analiz. Yaşar Üniversitesi E-Dergisi. 2016;11(44):251-62.

Cited By







Türkiyede Kurumsal Kalite ve Doğrudan Yabancı Yatırımlar İlişkisi
Mehmet Akif Ersoy Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi
Ali ACARAVCI
https://doi.org/10.30798/makuiibf.409819