In this study, long term relationship between the foreign direct invesment of Turkey in January 2006- November 2017 and credit ratings announced by Standard&Poors credit rating agency was examined by time series analysis. Sovereign Credit Ratings were obtained from the “Trading Economics” website and matched to the corresponding scores in the “Comparative Country Rating Index” scoring system. Monthly data of Foreign Direct Investment was obtained from the “Ministry of Economy” data base in US dollars and logarithms were taken and analyzed. In the analysis the Augmented Dickey Fuller unit root test was used whether series were stationary or not, and series were stationary in the first difference. Johansen Cointegration test was applied to determine the existence of long term relationship between sovereign credit ratings and foreign direct investment which are at the same level stationarity and a long run relationship was observed. Error Correction Model has been established after determination of the variables are co-integrated. In the error correction model that is created, short term fluctuations are reached long term average approximately in 3 months.
|Journal Section||Conference Proceedings|
: September 4, 2018
|APA||VERGİLİ, G , ÖZTÜRK, M , BALAT, A . (2018). TÜRKİYE’NİN ÜLKE KREDİ NOTLARI İLE DOĞRUDAN YABANCI YATIRIMLARI ARASINDAKİ UZUN DÖNEMLİ İLİŞKİ: STANDARD&POORS ÖRNEĞİ - THE LONG TERM RELATIONSHIP BETWEEN SOVEREIGN CREDIT RATINGS AND FOREIGN DIRECT INVESTMENT OF TURKEY: SAMPLE OF STANDARD&POORS. Mehmet Akif Ersoy Üniversitesi Sosyal Bilimler Enstitüsü Dergisi , 10 (25) , 629-637 . DOI: 10.20875/makusobed.457240|