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DOĞRUDAN YABANCI YATIRIM ÖZÜMSEME KAPASİTESİNİN EKONOMİK BÜYÜME VE AR-GE HARCAMALARI ÜZERİNE ETKİLERİ: TÜRKİYE VE SEÇİLMİŞ ÜLKELER ÖRNEĞİ

Year 2025, Issue: 47, 151 - 168, 06.05.2025
https://doi.org/10.18092/ulikidince.1591665

Abstract

Teoride, Doğrudan Yabancı Yatırımın (DYY) ekonomik büyümeyi, sermaye stokuna katkı ve yayılma etkileri yoluyla olumlu etkilediği üzerinde durulmaktadır. Bu yayılma etkileri, istihdam yaratma, Araştırma Geliştirme (Ar-Ge) merkezleri kurma, teknolojik bilgi ve beşeri sermaye gelişimine katkıda bulunma şeklinde sıralanabilir. Bunun yanı sıra özümseme kapasitesi, beşeri sermaye, finansal gelişme, ticarete açıklık, kurumların kalitesi, Ar-Ge harcamaları ve altyapı gibi faktörler ile DYY yayılmalarına aracılık etmektedir. Bu çalışmada, seçilen ülke grubu için seçilen özümseme kapasitesi faktörleri ile bir özümseme kapasitesi endeksi hesaplanmış, karşılaştırması yapılmış ve özümseme kapasitesi DYY ile birlikte ele alınarak ekonomik büyüme ve Ar-Ge harcamaları ile ilişkilendirilmiştir. 1999-2017 yıllarını kapsayan ve 16 ülke için yapılan panel veri analizi sonuçlarına göre, DYY ile özümseme kapasitesi bir araya geldiğinde ekonomik büyümeyi ve Ar-Ge harcamalarını pozitif yönde etkilemektedir.

References

  • Alfaro, L., Chanda, A., Kalemli-Ozcan, S. ve Sayek, S. (2006). How Does Foreign Direct Investment Promote Economic Growth? Weatherhead Center for International Affairs, Harvard University.
  • Asiedu, E. (2002). On the Determinants of Foreign Direct Investment to Developing Countries: Is Africa Different? World Development, 30(1), 107–119.
  • Balasubramanyam, V. N., Salisu, M. ve Sapsford, D. (1996). Foreign Direct Investment and Growth in EP and IS Countries. The Economic Journal, 106(434), 92–105.
  • Bach, T. M., Marques, L. ve Mendes, G. (2019). Relationship Between Innovation and Performance in Private Companies: Systematic Literature Review. Sage Open, 9(2), 2158244019855847.
  • Blonigen, B. A. ve Wang, M. (2004). Inappropriate Pooling of Wealthy and Poor Countries in Empirical FDI Studies. NBER Working Paper (10378).
  • Bodman, P. ve Le, T. (2013). Assessing the Roles that Absorptive Capacity and Economic Distance Play in the Foreign Direct Investment-Productivity Growth Nexus. Applied Economics, 45(8), 1027–1039.
  • Borensztein, E., De Gregorio, J., ve Lee, J. W. (1998). How Does Foreign Direct Investment Affect Economic Growth? Journal of International Economics, 45(1), 115–135.
  • Carkovic, M., ve Levine, R. (2005). Does Foreign Direct Investment Accelerate Economic Growth? In T. H. Moran, E. M. Graham ve M. Blomström (Eds.), Does Foreign Direct Investment Promote Development? (ss. 195–220). Institute for International Economics.
  • Cheung, K.-y., ve Lin, P. (2004). Spillover Effects of FDI on Innovation in China: Evidence from the Provincial Data. China Economic Review, 15(1), 25–44.
  • Cohen, W. M., ve Levinthal, D. A. (1990). Absorptive Capacity: A New Perspective on Learning and Innovation. Administrative Science Quarterly, 128–152.
  • Dimelis, S. P. (2005). Spillovers from Foreign Direct Investment and Firm Growth: Technological Financial and Market Structure Effects. International Journal of the Economics of Business, 12(1), 85–104.
  • Durham, J. B. (2004). Absorptive Capacity and the Effects of Foreign Direct Investment and Equity Foreign Portfolio Investment on Economic Growth. European Economic Review, 48(2), 285–306.
  • Esener, S. Ç., ve İpek, E. (2018). The Impacts of Public Expenditure Government Stability and Corruption on Per Capita Growth: An Empirical Investigation on Developing Countries. Sosyoekonomi, 26, 1–20.
  • Findlay, R. (1978). Relative Backwardness, Direct Foreign Investment, and the Transfer of Technology: A Simple Dynamic Model. The Quarterly Journal of Economics, 92(1), 1–16.
  • Frees, E. W. (2009). Regression Modeling with Actuarial and Financial Applications. Cambridge University Press.
  • Fu, X. (2007). Foreign Direct Investment Absorptive Capacity and Regional Innovation Capabilities: Evidence from China. Oxford Development Studies, 36(1), 89–110.
  • Hanushek, E. A., ve Kimko, D. D. (2000). Schooling, Labor-Force Quality, and the Growth of Nations. American Economic Review, 90(5), 1184–1208.
  • Hanushek, E. A., ve Woessmann, L. (2008). The Role of Cognitive Skills in Economic Development. Journal of Economic Literature, 46(3), 607–668.
  • Hermes, N., ve Lensink, R. (2003). Foreign Direct Investment, Financial Development, and Economic Growth. The Journal of Development Studies, 40(1), 142–163.
  • Hurtado, A., ve González-Campo, C. H. (2015). Measurement of Knowledge Absorptive Capacity: An Estimated Indicator for the Manufacturing Sector in Colombia. Journal of Globalization Competitiveness and Governability, 9(2), 16–42.
  • Jones, O., ve Craven, M. (2001). Expanding Capabilities in a Mature Manufacturing Firm: Absorptive Capacity and the TCS. International Small Business Journal, 19(3), 39–55.
  • Kherfi, S., ve Soliman, M. (2005). FDI and Economic Growth in CEE and MENA Countries: A Tale of Two Regions. International Business and Economics Research Journal (IBER), 4(12), 1–15.
  • Khordagui, N. H., ve Saleh, G. (2013). FDI and Absorptive Capacity in Emerging Economies. Topics in Middle Eastern and North African Economies, 15(1), 141–172.
  • Li, X., ve Liu, X. (2005). Foreign Direct Investment and Economic Growth: An Increasingly Endogenous Relationship. World Development, 33(3), 393–407.
  • Lian, L., ve Ma, H. (2014). Research on the Measuring Methods of FDI Absorption Capacity in the Western Region: The Empirical Analysis of Eleven Target Places in China. Information Technology Journal, 13(11), 1888.
  • Liu, X., Wang, C., ve Wei, Y. (2000). Productivity Spillovers from Foreign Direct Investment: Evidence from UK Industry Level Panel Data. Journal of International Business Studies, 31, 407–425.
  • Loree, D. W., ve Guisinger, S. E. (1995). Policy and Non-Policy Determinants of US Equity Foreign Direct Investment. Journal of International Business Studies, 26, 281–299.
  • Makki, S. S., ve Somwaru, A. (2004). Impact of Foreign Direct Investment and Trade on Economic Growth: Evidence from Developing Countries. American Journal of Agricultural Economics, 86(3), 795–801.
  • Mazziotta, M., ve Pareto, A. (2021). Everything You Always Wanted to Know About Normalization (But Were Afraid to Ask). Rivista Italiana di Economia Demografia e Statistica, 75(1), 41–52.
  • Mohamad, A., ve Bani, Y. (2017). Foreign Direct Investment Absorptive Capacity and Technological Innovation: Empirical Evidence in Developing Economies. Governance and Sustainability on Global Business Economics, 8, 72–78.
  • Mowery, D. C., Oxley, J. E., ve Silverman, B. S. (1996). Strategic Alliances and Interfirm Knowledge Transfer. Strategic Management Journal, 17(S2), 77–91.
  • Narula, R., ve Marin, A. (2003). FDI Spillovers, Absorptive Capacities, and Human Capital Development: Evidence from Argentina. MERIT Infonomics Research Memorandum Series (2003–16).
  • Nordhaus, W., Boyer, J., ve Chen, X. (2006). The G-Econ Database on Gridded Output: Methods and Data. Yale University, New Haven, 6(11), 1–20.
  • Omran, M., ve Bolbol, A. (2003). Foreign Direct Investment, Financial Development, and Economic Growth: Evidence from the Arab Countries. Review of Middle East Economics and Finance, 1(3), 37–55.
  • Perez, C., ve Soete, L. (1988). Catching-Up in Technology: Entry Barriers and Windows of Opportunities. In Dosi, G., Freeman, C., Nelson, R., Silverberg, G., ve Soete, L. (Eds.), Technical Change and Economic Theory (pp. 458–479). Columbia University, New York.
  • Reisinezhad, A. (2020). Absorption Capacity and Natural Resource Curse. Working Paper (No. halshs-03012661).
  • Sellero-Sánchez, P., González-Loureiro, M., ve Soares, A. M. (2014). Absorptive Capacity from Foreign Direct Investment in Spanish Manufacturing Firms. International Business Review, 23(2), 429–439.
  • Sharma, R. (2018). Health and Economic Growth: Evidence from Dynamic Panel Data of 143 Years. PloS One, 13(10), e0204940.
  • Tang, D., Wei, Z., ve Wu, X. (2022). Government R&D Spending, Fiscal Instruments, and Corporate Technological Innovation. China Journal of Accounting Research, 15(3), 100250.
  • Todorova, G., ve Durisin, B. (2007). Absorptive Capacity: Valuing a Reconceptualization. Academy of Management Review, 32(3), 774–786.
  • Veugelers, R. (1997). Internal R & D Expenditures and External Technology Sourcing. Research Policy, 26(3), 303–315.
  • Yerdelen Tatoğlu, F. (2020). Panel Zaman Serileri Analizi: Stata Uygulamalı. Beta Yayıncılık, İstanbul.
  • Wang, M. (2009). Manufacturing FDI and Economic Growth: Evidence from Asian Economies. Applied Economics, 41(8), 991–1002.
  • Wheeler, D., ve Mody, A. (1992). International Investment Location Decisions: The Case of US Firms. Journal of International Economics, 33(1–2), 57–76.
  • Wooldridge, J. M. (2006). Introductory Econometrics: A Modern Approach. South-Western Cengage Learning, Michigan State University.

THE EFFECT OF FOREIGN DIRECT INVESTMENT ABSORPTIVE CAPACITY ON ECONOMIC GROWTH AND R&D EXPENDITURES: TÜRKİYE AND SELECTED COUNTRIES CASE

Year 2025, Issue: 47, 151 - 168, 06.05.2025
https://doi.org/10.18092/ulikidince.1591665

Abstract

In theory, it is emphasized that Foreign Direct Investment (FDI) has a positive impact on economic growth through its contribution to the capital stock and its spillover effects. These effects can be listed as creating employment, establishing Research and Development (R&D) centers, contributing to the development of skills, technological knowledge and human capital. Additionally, absorptive capacity mediates FDI spillovers through factors such as human capital, financial development, trade openness, quality of institutions, R&D expenditures and infrastructure. In this paper, an absorptive capacity index was calculated with the selected absorptive capacity factors for selected country group and such index was compared and lastly by considering absorptive capacity together with FDI it was associated with growth and R&D expenditures. According to the results of the panel data analysis for 16 countries covering the years of 1999-2017, when FDI and absorptive capacity come together, it positively affects economic growth and R&D expenditures.

References

  • Alfaro, L., Chanda, A., Kalemli-Ozcan, S. ve Sayek, S. (2006). How Does Foreign Direct Investment Promote Economic Growth? Weatherhead Center for International Affairs, Harvard University.
  • Asiedu, E. (2002). On the Determinants of Foreign Direct Investment to Developing Countries: Is Africa Different? World Development, 30(1), 107–119.
  • Balasubramanyam, V. N., Salisu, M. ve Sapsford, D. (1996). Foreign Direct Investment and Growth in EP and IS Countries. The Economic Journal, 106(434), 92–105.
  • Bach, T. M., Marques, L. ve Mendes, G. (2019). Relationship Between Innovation and Performance in Private Companies: Systematic Literature Review. Sage Open, 9(2), 2158244019855847.
  • Blonigen, B. A. ve Wang, M. (2004). Inappropriate Pooling of Wealthy and Poor Countries in Empirical FDI Studies. NBER Working Paper (10378).
  • Bodman, P. ve Le, T. (2013). Assessing the Roles that Absorptive Capacity and Economic Distance Play in the Foreign Direct Investment-Productivity Growth Nexus. Applied Economics, 45(8), 1027–1039.
  • Borensztein, E., De Gregorio, J., ve Lee, J. W. (1998). How Does Foreign Direct Investment Affect Economic Growth? Journal of International Economics, 45(1), 115–135.
  • Carkovic, M., ve Levine, R. (2005). Does Foreign Direct Investment Accelerate Economic Growth? In T. H. Moran, E. M. Graham ve M. Blomström (Eds.), Does Foreign Direct Investment Promote Development? (ss. 195–220). Institute for International Economics.
  • Cheung, K.-y., ve Lin, P. (2004). Spillover Effects of FDI on Innovation in China: Evidence from the Provincial Data. China Economic Review, 15(1), 25–44.
  • Cohen, W. M., ve Levinthal, D. A. (1990). Absorptive Capacity: A New Perspective on Learning and Innovation. Administrative Science Quarterly, 128–152.
  • Dimelis, S. P. (2005). Spillovers from Foreign Direct Investment and Firm Growth: Technological Financial and Market Structure Effects. International Journal of the Economics of Business, 12(1), 85–104.
  • Durham, J. B. (2004). Absorptive Capacity and the Effects of Foreign Direct Investment and Equity Foreign Portfolio Investment on Economic Growth. European Economic Review, 48(2), 285–306.
  • Esener, S. Ç., ve İpek, E. (2018). The Impacts of Public Expenditure Government Stability and Corruption on Per Capita Growth: An Empirical Investigation on Developing Countries. Sosyoekonomi, 26, 1–20.
  • Findlay, R. (1978). Relative Backwardness, Direct Foreign Investment, and the Transfer of Technology: A Simple Dynamic Model. The Quarterly Journal of Economics, 92(1), 1–16.
  • Frees, E. W. (2009). Regression Modeling with Actuarial and Financial Applications. Cambridge University Press.
  • Fu, X. (2007). Foreign Direct Investment Absorptive Capacity and Regional Innovation Capabilities: Evidence from China. Oxford Development Studies, 36(1), 89–110.
  • Hanushek, E. A., ve Kimko, D. D. (2000). Schooling, Labor-Force Quality, and the Growth of Nations. American Economic Review, 90(5), 1184–1208.
  • Hanushek, E. A., ve Woessmann, L. (2008). The Role of Cognitive Skills in Economic Development. Journal of Economic Literature, 46(3), 607–668.
  • Hermes, N., ve Lensink, R. (2003). Foreign Direct Investment, Financial Development, and Economic Growth. The Journal of Development Studies, 40(1), 142–163.
  • Hurtado, A., ve González-Campo, C. H. (2015). Measurement of Knowledge Absorptive Capacity: An Estimated Indicator for the Manufacturing Sector in Colombia. Journal of Globalization Competitiveness and Governability, 9(2), 16–42.
  • Jones, O., ve Craven, M. (2001). Expanding Capabilities in a Mature Manufacturing Firm: Absorptive Capacity and the TCS. International Small Business Journal, 19(3), 39–55.
  • Kherfi, S., ve Soliman, M. (2005). FDI and Economic Growth in CEE and MENA Countries: A Tale of Two Regions. International Business and Economics Research Journal (IBER), 4(12), 1–15.
  • Khordagui, N. H., ve Saleh, G. (2013). FDI and Absorptive Capacity in Emerging Economies. Topics in Middle Eastern and North African Economies, 15(1), 141–172.
  • Li, X., ve Liu, X. (2005). Foreign Direct Investment and Economic Growth: An Increasingly Endogenous Relationship. World Development, 33(3), 393–407.
  • Lian, L., ve Ma, H. (2014). Research on the Measuring Methods of FDI Absorption Capacity in the Western Region: The Empirical Analysis of Eleven Target Places in China. Information Technology Journal, 13(11), 1888.
  • Liu, X., Wang, C., ve Wei, Y. (2000). Productivity Spillovers from Foreign Direct Investment: Evidence from UK Industry Level Panel Data. Journal of International Business Studies, 31, 407–425.
  • Loree, D. W., ve Guisinger, S. E. (1995). Policy and Non-Policy Determinants of US Equity Foreign Direct Investment. Journal of International Business Studies, 26, 281–299.
  • Makki, S. S., ve Somwaru, A. (2004). Impact of Foreign Direct Investment and Trade on Economic Growth: Evidence from Developing Countries. American Journal of Agricultural Economics, 86(3), 795–801.
  • Mazziotta, M., ve Pareto, A. (2021). Everything You Always Wanted to Know About Normalization (But Were Afraid to Ask). Rivista Italiana di Economia Demografia e Statistica, 75(1), 41–52.
  • Mohamad, A., ve Bani, Y. (2017). Foreign Direct Investment Absorptive Capacity and Technological Innovation: Empirical Evidence in Developing Economies. Governance and Sustainability on Global Business Economics, 8, 72–78.
  • Mowery, D. C., Oxley, J. E., ve Silverman, B. S. (1996). Strategic Alliances and Interfirm Knowledge Transfer. Strategic Management Journal, 17(S2), 77–91.
  • Narula, R., ve Marin, A. (2003). FDI Spillovers, Absorptive Capacities, and Human Capital Development: Evidence from Argentina. MERIT Infonomics Research Memorandum Series (2003–16).
  • Nordhaus, W., Boyer, J., ve Chen, X. (2006). The G-Econ Database on Gridded Output: Methods and Data. Yale University, New Haven, 6(11), 1–20.
  • Omran, M., ve Bolbol, A. (2003). Foreign Direct Investment, Financial Development, and Economic Growth: Evidence from the Arab Countries. Review of Middle East Economics and Finance, 1(3), 37–55.
  • Perez, C., ve Soete, L. (1988). Catching-Up in Technology: Entry Barriers and Windows of Opportunities. In Dosi, G., Freeman, C., Nelson, R., Silverberg, G., ve Soete, L. (Eds.), Technical Change and Economic Theory (pp. 458–479). Columbia University, New York.
  • Reisinezhad, A. (2020). Absorption Capacity and Natural Resource Curse. Working Paper (No. halshs-03012661).
  • Sellero-Sánchez, P., González-Loureiro, M., ve Soares, A. M. (2014). Absorptive Capacity from Foreign Direct Investment in Spanish Manufacturing Firms. International Business Review, 23(2), 429–439.
  • Sharma, R. (2018). Health and Economic Growth: Evidence from Dynamic Panel Data of 143 Years. PloS One, 13(10), e0204940.
  • Tang, D., Wei, Z., ve Wu, X. (2022). Government R&D Spending, Fiscal Instruments, and Corporate Technological Innovation. China Journal of Accounting Research, 15(3), 100250.
  • Todorova, G., ve Durisin, B. (2007). Absorptive Capacity: Valuing a Reconceptualization. Academy of Management Review, 32(3), 774–786.
  • Veugelers, R. (1997). Internal R & D Expenditures and External Technology Sourcing. Research Policy, 26(3), 303–315.
  • Yerdelen Tatoğlu, F. (2020). Panel Zaman Serileri Analizi: Stata Uygulamalı. Beta Yayıncılık, İstanbul.
  • Wang, M. (2009). Manufacturing FDI and Economic Growth: Evidence from Asian Economies. Applied Economics, 41(8), 991–1002.
  • Wheeler, D., ve Mody, A. (1992). International Investment Location Decisions: The Case of US Firms. Journal of International Economics, 33(1–2), 57–76.
  • Wooldridge, J. M. (2006). Introductory Econometrics: A Modern Approach. South-Western Cengage Learning, Michigan State University.
There are 45 citations in total.

Details

Primary Language Turkish
Subjects International Economic Foundation
Journal Section Articles
Authors

Asiye Küçükosman 0000-0002-7100-3255

Ayca Sarialioglu Hayali 0000-0002-6613-7531

Publication Date May 6, 2025
Submission Date November 26, 2024
Acceptance Date April 24, 2025
Published in Issue Year 2025 Issue: 47

Cite

APA Küçükosman, A., & Sarialioglu Hayali, A. (2025). DOĞRUDAN YABANCI YATIRIM ÖZÜMSEME KAPASİTESİNİN EKONOMİK BÜYÜME VE AR-GE HARCAMALARI ÜZERİNE ETKİLERİ: TÜRKİYE VE SEÇİLMİŞ ÜLKELER ÖRNEĞİ. Uluslararası İktisadi Ve İdari İncelemeler Dergisi(47), 151-168. https://doi.org/10.18092/ulikidince.1591665

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