The Impact of the Foreign Trade with Neighboring Countries on FDI Inflows: A Panel Data Analysis for Developing Countries

Öz

In terms of foreign direct investment (FDI) decisions, the target country's technological competence, production efficiency, cost advantages as well as openness are very important. At the beginning of the 1990's, intensified liberalization policies increased FDI inflows to developing countries. In this study, the effect of large market volume advantage and raw materials and semifinished products supply advantage on FDI inflows is investigated. The fixed effects model was found to be suitable for the data set in which 94 developing countries are considered. The models developed against deviations from assumptions have been estimated by Parks-Kmenta (GEKK), Beck-Katz (PCSEs) and Driscoll-Kraay robust standard estimator. As a result of the analysis, it is found that trade with neighboring countries has a positive effect on FDI inflows

Anahtar Kelimeler

• Foreign Trade, Foreign Direct Investment, Gravity Model, Panel Data Analysis, Fixed Effect Model

Komşu Ülkelerle Yapılan Dış Ticaretin DYY Girişleri Üzerine Etkisi: Gelişmekte Olan Ülkeler İçin Panel Veri Analiz

Öz

Doğrudan yabancı yatırım (DYY) kararları açısından, hedef ülkenin teknolojik yeterliliği, üretim verimliliği, maliyet avantajları yanında dışa açıklığı da oldukça önemlidir. 1990’lı yılların başında yoğunlaşan liberalleşme politikaları gelişmekte olan ülkelere yönelik DYY akımlarını arttırmıştır. Bu çalışmada, Gelişmekte olan ülkelerin komşularıyla olan ticari ilişkileri ölçüsünde sundukları geniş piyasa hacmi avantajı ve ham madde ve yarı mamul tedariki avantajının DYY girişlerine etkisi araştırılmıştır. Yapılan analizler sonrasında, 94 gelişmekte olan ülkenin ele alındığı veri seti için sabit etkiler modelinin uygun olduğu bulunmuştur. Modelimizin varsayımları sağlayıp sağlamadığı test edilmi ve varsayımlardan sapmalara karşı geliştirilen Parks- Kmenta (GEKK), Beck-Katz (PCSEs) ve Driscoll-Kraay dirençli standart tahmincileriyle tahmin edilmiştir. Analiz sonucunda, komşu ülkeler ile yapılan ticaretin DYY girişleri üzerinde olumlu etkisi olduğu bulunmuştur.

Anahtar Kelimeler

• Dış Ticaret, Doğrudan Yabancı Yatırımlar, Çekim Modeli, Panel Veri Analizi, Sabit Etkiler Modeli

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