Yönetim ve Ekonomi Dergisi 1302-0064 2458-8253 Manisa Celal Bayar University 10.18657/yonveek.640568 Economic Growth and Foreign Direct Investment in the United States: A Granger Causality Analysis ABD’de Ekonomik Büyüme ve Doğrudan Yabancı Yatırım: Granger Nedensellik Analizi https://orcid.org/0000-0003-0650-0244 Öztürk Serdar NEVSEHIR HACI BEKTAS VELI UNIVERSITY, FACULTY OF ECONOMICS AND ADMINISTRATIVE SCIENCES https://orcid.org/0000-0002-3253-1098 Suluk Seher NEVSEHIR HACI BEKTAS VELI UNIVERSITY, INSTITUTE OF SOCIAL SCIENCES, ECONOMICS (DR) 12 25 2020 27 3 665 679 10 31 2019 12 01 2020 Copyright © 1995, Journal of Management and Economics 1995 Journal of Management and Economics

Economic, social, political, cultural and technological changes have emerged in the process of with the accelerating of globalization, expanding technological development and developing humanity. One of the most significant developments in the globalization process is the liberalization of international trade. In addition, it can be said there has been an increase in foreign direct investments due to the globalization. In parallel, the relationship between foreign direct investment and economic growth has been a significant research topic in the literature. Therefore, in this study, the causal relationship between foreign direct investment and economic growth is empirically investigated for the United States, which is one of the largest recipient of FDI. In order to reach this aim, firstly, Augmented Dickey-Fuller (ADF) unit root test has been performed by using data belonging to 1970-2018 period and then, Granger causality test was applied. In consequence of the performed econometric analysis, foreign direct investment was found to give rise to economic growth. Key Words: Economic Growth, Foreign Direct Investment, Granger Causality AnalysisJEL Classification: F21, F43, C32

Küreselleşmenin hız kazanması, teknolojik gelişiminin yaygınlaşması ve insanlığın gelişimi süreci içerisinde ortaya ekonomik, sosyal, politik, kültürel ve teknolojik değişimler çıkmıştır. Küreselleşme sürecinde yaşanan en önemli gelişmelerden biri ise uluslararası ticaretin serbestleştirilmesidir. Ayrıca küreselleşmeyle birlikte doğrudan yabancı yatırımlarda bir artış meydana geldiği söylenebilir. Buna paralel olarak, doğrudan yabancı yatırım ile ekonomik büyüme ilişkisi literatürde önemli bir araştırma konusu olmuştur. Bundan dolayı, bu çalışmada, en büyük doğrudan yabancı yatırım alıcısından biri olan ABD için doğrudan yabancı yatırımlar ve ekonomik büyüme arasındaki sebep-sonuç ilişkisi ampirik olarak incelenmiştir. Bu amaca ulaşmak için 1970-2018 dönemine ait veriler kullanılarak öncelikle Genişletilmiş Dickey-Fuller (ADF) birim kök testi yapılmış, daha sonra Granger nedensellik testi uygulanmıştır. Uygulanan ekonometrik analizin sonucunda, doğrudan yabancı yatırımların ekonomik büyümeye neden olduğu saptanmıştır.Anahtar Kelimeler: Ekonomik Büyüme, Doğrudan Yabancı Yatırım, Granger Nedensellik AnalizJEL Sınıflandırması: F21, F43, C32

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