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Doğrudan Yabancı Sermaye Yatırımlarının Belirleyicileri: Seçilmiş Doğu Asya ve Pasifik Ülkelerinden Ampirik Bulgular

Year 2016, Volume: 24 Issue: 30, 91 - 112, 08.11.2016
https://doi.org/10.17233/se.2016.10.005

Abstract

Bu çalışmada, seçilmiş Doğu Asya ve Pasifik ülkeleri (Avustralya, Çin, Endonezya, Filipinler, Güney Kore, Hong Kong, Japonya, Malezya, Singapur, Tayland, Yeni Zelenda) için doğrudan yabancı sermaye yatırımlarının belirleyicileri, 2000-2013 dönemi panel verileri kullanılarak incelenmiştir. İlgili literatürden yola çıkarak doğrudan yabancı sermaye yatırımlarına yön vermesi beklenen faktörler; piyasa hacmi, ticarete açıklık, makroekonomik istikrar, altyapı, yığılma etkisi ve politik istikrar olarak belirlenmiştir. Çalışmadan elde edilen genel bulgular, söz konusu ülkelere gelen net doğrudan yabancı sermaye yatırımlarının piyasa hacmine, yığılma etkisine ve ticarete açıklık derecesine bağlı olduğunu ortaya koymaktadır. Buna göre, söz konusu ülkelerin yurtiçine giren net doğrudan yabancı sermaye yatırımlarını artırmak için, piyasa hacmini ve ticarette serbestleşmeyi artırmaya yönelik aktif politikalar uygulamaları önerilmektedir.

References

  • Agiomirgianakis, G. & D. Asterio & K. Papathoma (2003), “The Determinants of Foreign Direct Investment: A Panel Data Study For the OECD Countries”, City University Department of Economics Discussion Paper Series, No. 03/06, London, 1-18.
  • Asıedu, E. (2002), “On the Determinants of Foreign Direct Investment to Developing Countries: Is Africa Different?”, World Development, 30(1), 107-119.
  • Baltagi, B.H. (2005), Econometrics Analysis of Panel Data, 3rd Edition, London: John Wiley & Sons.
  • Bengoa, M. & B. Sanchez-Robles (2003), “Foreign direct investment, economic freedom and growth: new evidence from Latin America”, European Journal of Political Economy, Vol. 19, 529-545.
  • Breitung, J. (2000), “The Local Power of Some Unit Root Tsets for Panel Data”, Panel Cointegration and Dynamic Panels, Vol. 15, 161-177.
  • Brooks, C. (2008), Introductory Econometrics for Finance, Second Edition, Cambridge University Press, New York.
  • Choong, C. & S. Lm (2010), “The Determinants of Foreign Direct Investment in Malesia: A Revisit”, Global Economic Review, 39(2), 175-195.
  • Deichman, J. & S. Karidis & S. Sayek (2003), “Foreign Direct Investment in Turkey: Regional Determinants”, Applied Economics, 35(16), 1767-1778.
  • Dunning, J.H. (1973), “The Determinants of International Production”, Oxford Economic Papers, Vol. 25, 289-336.
  • Hsiao, C. (2003), Analysis of Panel Data, 2nd Edition, Cambridge: Cambridge University Press.
  • Ibrahim, Ö.A. & H.M. Hassan (2013), “Determinants of Foreign Direct Investment in Sudan: An Econometric Perspective”, The Journal of North African Studies, 18(1), 1-15.
  • Jadhav, P. (2012), “Determinants of Foreign Direct Investment in BRICS Economies: Analysis of Economic”, Institutional and Political Faktor, Social and Behavioral Sciences, 37, 5-14.
  • Janicki, H.P. & P.V. Wunnava (2004), “Determinants of Foreign Direct Investment: Empirical Evidence from EU Accession Candidates”, Applied Economics, 36, 505-509.
  • Kar, M. & F. Tatlısöz (2008), “Türkiye’de Doğrudan Yabancı Sermaye Yatırımlarını Belirleyen Faktörlerin Ekonometrik Analizi”, KMU İİBF Dergisi, Sayı 14, 1-23.
  • Karagöz, K. (2007), “Türkiye’de Doğrudan Yabancı Yatırım Girişlerini Belirleyen Faktörler: 1970- 2005”, Journal of Yaşar University, 2(8), 927-948.
  • Lall, P. & D.W. Norman & A.M. Featheartstone (2003), “Determinants of US Direct Foreign Investmentin the Caribbean”, Applied Economics, 35(13), 1485-1496.
  • Levin, A. & C.F. Lin & C.S.J. Chu (2002), “Unit Root Tests in Panel Data: Asymptotic and Finite- Sample Properties”, Journal of Econometrics, 108(1): 1-24.
  • Ludoşean, B.M. (2012), “A VAR Analysis of the Connection between FDI and Economic Growth in Romania”, Theoretical and applied economics: GAER review, 19(10), 115-130.
  • Peseran, M.H. (2004), “General Diagnostic Tests for Cross Section Dependence in Panels”, CESIFO Working Paper, No. 1229, 1-47.
  • Peseran, M.H & T. Yamagata (2008), “Testing Slope Homogeneity in Large Panels”, Journal of Econometrics 142, 50-93.
  • Peseran, M.H. & A. Ullah & T. Yamagata (2008), “A Bias-Adjusted LM Test of Error Cross Section Independence”, Econometrics Journal, Vol. 11, 105-127.
  • Protsenko, A. (2003), “Vertical and Horizontal Foreign Direct Investments in Transition Countries”, Ph.D. Thesis, Ludwig-Maximilians University Munich.
  • Resmini, L. (2000), “The Determinants of Foreign Direct Investment in the CEECs”, Economics of Transition, Vol. 8(3), 665-689.
  • Xosé A.R. & J. (2008), “Determinants of foreign direct investment in Spain”, Applied Economics, 40(19), 2443-2450.
  • Sayılgan, G. & C. Süslü (2011), “Makroekonomik Faktörlerin Hisse Senedi Getirilerine Etkisi: Türkiye ve Gelişmekte Olan Piyasalar Üzerine Bir İnceleme”, BDDK Bankacılık ve Finansal Piyasalar Dergisi, 5(1), 73-96.
  • UNCTAD (2013), “World Investment Report 2013: Global Value Chains: Investment and Trade for Development”, United Nations Publications, New York and Geneva.
  • Vijayakumar, N. & P. Sridharan & K.C.S. Rao (2010), “Determinants of FDI in BRICS Countries: A Panel Analysis”, Journal of Business Science and Applied Management, 5(3), 1-13.
  • Wadhwa, K. (2011), “Foreign Direct Investment into Developing Asian Countries: The Role of Market Seeking, Resource Seeking and Efficiency Seeking Factors”, Canadian Center of Science and Education, 6(11), 219-220.
  • Walsh, J.P. & J. Yu (2010), “Determinants of Foreign Direct Investment: A Sectoral and Institutional Approach”, IMF Working Papers, No. WP/10/187.
Year 2016, Volume: 24 Issue: 30, 91 - 112, 08.11.2016
https://doi.org/10.17233/se.2016.10.005

Abstract

References

  • Agiomirgianakis, G. & D. Asterio & K. Papathoma (2003), “The Determinants of Foreign Direct Investment: A Panel Data Study For the OECD Countries”, City University Department of Economics Discussion Paper Series, No. 03/06, London, 1-18.
  • Asıedu, E. (2002), “On the Determinants of Foreign Direct Investment to Developing Countries: Is Africa Different?”, World Development, 30(1), 107-119.
  • Baltagi, B.H. (2005), Econometrics Analysis of Panel Data, 3rd Edition, London: John Wiley & Sons.
  • Bengoa, M. & B. Sanchez-Robles (2003), “Foreign direct investment, economic freedom and growth: new evidence from Latin America”, European Journal of Political Economy, Vol. 19, 529-545.
  • Breitung, J. (2000), “The Local Power of Some Unit Root Tsets for Panel Data”, Panel Cointegration and Dynamic Panels, Vol. 15, 161-177.
  • Brooks, C. (2008), Introductory Econometrics for Finance, Second Edition, Cambridge University Press, New York.
  • Choong, C. & S. Lm (2010), “The Determinants of Foreign Direct Investment in Malesia: A Revisit”, Global Economic Review, 39(2), 175-195.
  • Deichman, J. & S. Karidis & S. Sayek (2003), “Foreign Direct Investment in Turkey: Regional Determinants”, Applied Economics, 35(16), 1767-1778.
  • Dunning, J.H. (1973), “The Determinants of International Production”, Oxford Economic Papers, Vol. 25, 289-336.
  • Hsiao, C. (2003), Analysis of Panel Data, 2nd Edition, Cambridge: Cambridge University Press.
  • Ibrahim, Ö.A. & H.M. Hassan (2013), “Determinants of Foreign Direct Investment in Sudan: An Econometric Perspective”, The Journal of North African Studies, 18(1), 1-15.
  • Jadhav, P. (2012), “Determinants of Foreign Direct Investment in BRICS Economies: Analysis of Economic”, Institutional and Political Faktor, Social and Behavioral Sciences, 37, 5-14.
  • Janicki, H.P. & P.V. Wunnava (2004), “Determinants of Foreign Direct Investment: Empirical Evidence from EU Accession Candidates”, Applied Economics, 36, 505-509.
  • Kar, M. & F. Tatlısöz (2008), “Türkiye’de Doğrudan Yabancı Sermaye Yatırımlarını Belirleyen Faktörlerin Ekonometrik Analizi”, KMU İİBF Dergisi, Sayı 14, 1-23.
  • Karagöz, K. (2007), “Türkiye’de Doğrudan Yabancı Yatırım Girişlerini Belirleyen Faktörler: 1970- 2005”, Journal of Yaşar University, 2(8), 927-948.
  • Lall, P. & D.W. Norman & A.M. Featheartstone (2003), “Determinants of US Direct Foreign Investmentin the Caribbean”, Applied Economics, 35(13), 1485-1496.
  • Levin, A. & C.F. Lin & C.S.J. Chu (2002), “Unit Root Tests in Panel Data: Asymptotic and Finite- Sample Properties”, Journal of Econometrics, 108(1): 1-24.
  • Ludoşean, B.M. (2012), “A VAR Analysis of the Connection between FDI and Economic Growth in Romania”, Theoretical and applied economics: GAER review, 19(10), 115-130.
  • Peseran, M.H. (2004), “General Diagnostic Tests for Cross Section Dependence in Panels”, CESIFO Working Paper, No. 1229, 1-47.
  • Peseran, M.H & T. Yamagata (2008), “Testing Slope Homogeneity in Large Panels”, Journal of Econometrics 142, 50-93.
  • Peseran, M.H. & A. Ullah & T. Yamagata (2008), “A Bias-Adjusted LM Test of Error Cross Section Independence”, Econometrics Journal, Vol. 11, 105-127.
  • Protsenko, A. (2003), “Vertical and Horizontal Foreign Direct Investments in Transition Countries”, Ph.D. Thesis, Ludwig-Maximilians University Munich.
  • Resmini, L. (2000), “The Determinants of Foreign Direct Investment in the CEECs”, Economics of Transition, Vol. 8(3), 665-689.
  • Xosé A.R. & J. (2008), “Determinants of foreign direct investment in Spain”, Applied Economics, 40(19), 2443-2450.
  • Sayılgan, G. & C. Süslü (2011), “Makroekonomik Faktörlerin Hisse Senedi Getirilerine Etkisi: Türkiye ve Gelişmekte Olan Piyasalar Üzerine Bir İnceleme”, BDDK Bankacılık ve Finansal Piyasalar Dergisi, 5(1), 73-96.
  • UNCTAD (2013), “World Investment Report 2013: Global Value Chains: Investment and Trade for Development”, United Nations Publications, New York and Geneva.
  • Vijayakumar, N. & P. Sridharan & K.C.S. Rao (2010), “Determinants of FDI in BRICS Countries: A Panel Analysis”, Journal of Business Science and Applied Management, 5(3), 1-13.
  • Wadhwa, K. (2011), “Foreign Direct Investment into Developing Asian Countries: The Role of Market Seeking, Resource Seeking and Efficiency Seeking Factors”, Canadian Center of Science and Education, 6(11), 219-220.
  • Walsh, J.P. & J. Yu (2010), “Determinants of Foreign Direct Investment: A Sectoral and Institutional Approach”, IMF Working Papers, No. WP/10/187.
There are 29 citations in total.

Details

Journal Section Articles
Authors

Harun Bal

Emrah Eray Akça

Publication Date November 8, 2016
Submission Date October 20, 2016
Published in Issue Year 2016 Volume: 24 Issue: 30

Cite

APA Bal, H., & Akça, E. E. (2016). Doğrudan Yabancı Sermaye Yatırımlarının Belirleyicileri: Seçilmiş Doğu Asya ve Pasifik Ülkelerinden Ampirik Bulgular. Sosyoekonomi, 24(30), 91-112. https://doi.org/10.17233/se.2016.10.005
AMA Bal H, Akça EE. Doğrudan Yabancı Sermaye Yatırımlarının Belirleyicileri: Seçilmiş Doğu Asya ve Pasifik Ülkelerinden Ampirik Bulgular. Sosyoekonomi. October 2016;24(30):91-112. doi:10.17233/se.2016.10.005
Chicago Bal, Harun, and Emrah Eray Akça. “Doğrudan Yabancı Sermaye Yatırımlarının Belirleyicileri: Seçilmiş Doğu Asya Ve Pasifik Ülkelerinden Ampirik Bulgular”. Sosyoekonomi 24, no. 30 (October 2016): 91-112. https://doi.org/10.17233/se.2016.10.005.
EndNote Bal H, Akça EE (October 1, 2016) Doğrudan Yabancı Sermaye Yatırımlarının Belirleyicileri: Seçilmiş Doğu Asya ve Pasifik Ülkelerinden Ampirik Bulgular. Sosyoekonomi 24 30 91–112.
IEEE H. Bal and E. E. Akça, “Doğrudan Yabancı Sermaye Yatırımlarının Belirleyicileri: Seçilmiş Doğu Asya ve Pasifik Ülkelerinden Ampirik Bulgular”, Sosyoekonomi, vol. 24, no. 30, pp. 91–112, 2016, doi: 10.17233/se.2016.10.005.
ISNAD Bal, Harun - Akça, Emrah Eray. “Doğrudan Yabancı Sermaye Yatırımlarının Belirleyicileri: Seçilmiş Doğu Asya Ve Pasifik Ülkelerinden Ampirik Bulgular”. Sosyoekonomi 24/30 (October 2016), 91-112. https://doi.org/10.17233/se.2016.10.005.
JAMA Bal H, Akça EE. Doğrudan Yabancı Sermaye Yatırımlarının Belirleyicileri: Seçilmiş Doğu Asya ve Pasifik Ülkelerinden Ampirik Bulgular. Sosyoekonomi. 2016;24:91–112.
MLA Bal, Harun and Emrah Eray Akça. “Doğrudan Yabancı Sermaye Yatırımlarının Belirleyicileri: Seçilmiş Doğu Asya Ve Pasifik Ülkelerinden Ampirik Bulgular”. Sosyoekonomi, vol. 24, no. 30, 2016, pp. 91-112, doi:10.17233/se.2016.10.005.
Vancouver Bal H, Akça EE. Doğrudan Yabancı Sermaye Yatırımlarının Belirleyicileri: Seçilmiş Doğu Asya ve Pasifik Ülkelerinden Ampirik Bulgular. Sosyoekonomi. 2016;24(30):91-112.