The Effects of Foreign Direct Investments on Economic Growth and Employment in Türkiye After 1994

Year 2024, Volume: 8 Issue: 2, 380 - 397, 25.10.2024

Ayşen Bakkaloğlu

https://doi.org/10.29216/ueip.1504660

Abstract

This study examines the macroeconomic relationship between foreign direct investment (FDI), gross domestic product (GDP) growth, and employment rates in Turkey between 1994 and 2023. The research employs econometric techniques, including stationarity tests, Johansen cointegration tests, and causality tests, to investigate the long-run and causal dynamics between these variables. The findings indicate that FDI inflows exert a significant influence on GDP growth, thereby supporting the tenets of endogenous growth theory, which underscores the pivotal role of external capital and knowledge flows in propelling economic advancement. The absence of a robust causal relationship between GDP growth and FDI inflows indicates that economic expansion may not be a sufficient incentive for foreign investment. This research underscores the significance of implementing unified economic policies that concurrently attract FDI and bolster domestic industries, thereby cultivating a competitive and innovative economic milieu. By integrating macroeconomic perspectives, this study offers valuable insights for policymakers seeking to achieve sustainable economic growth and employment through strategic foreign investment.

Keywords

Foreign Direct Investment, GDP Growth, Employment Rates, Macreconomic Policy

1994 Sonrası Dönemde Türkiye'de Doğrudan Yabancı Yatırımların Ekonomik Büyüme ve İstihdam Üzerindeki Etkileri

Abstract

Bu çalışma, 1994-2023 yılları arasında Türkiye'de doğrudan yabancı yatırım (DYY), gayrisafi yurtiçi hasıla (GSYH) büyümesi ve istihdam oranları arasındaki makroekonomik ilişkiyi incelemektedir. Araştırma, bu değişkenler arasındaki uzun dönemli ve nedensel dinamikleri araştırmak için durağanlık testleri, Johansen eşbütünleşme testleri ve nedensellik testleri dahil olmak üzere ekonometrik teknikleri kullanmaktadır. Bulgular, DYY girişlerinin GSYH büyümesinde önemli bir rol oynadığını göstermekte ve ekonomik kalkınmayı yönlendirmede dış sermaye ve bilgi akışının önemini vurgulayan içsel büyüme teorisini desteklemektedir. GSYH büyümesi ile DYY girişleri arasında güçlü bir nedensel ilişkinin bulunmaması, ekonomik genişlemenin tek başına yabancı yatırım için yeterli bir teşvik olmayabileceğini göstermektedir. Bu araştırma, aynı anda hem DYY çeken hem de yerli sanayileri destekleyen ve böylece rekabetçi ve yenilikçi bir ekonomik ortamı teşvik eden koordineli ekonomi politikalarının uygulanmasının önemini vurgulamaktadır. Makroekonomik perspektifleri bütünleştiren bu çalışma, stratejik yabancı yatırım yoluyla sürdürülebilir ekonomik büyüme ve istihdam elde etmek isteyen politika yapıcılar için değerli bilgiler sunmaktadır.

Keywords

Doğrudan Yabancı Yatırım, GSYIH Büyümesi, İshihdam Oranları, Makroekonomik Politika

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