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Foreign direct investments and economic growth: Panel threshold analysis for the OECD countries

Yıl 2019, Sayı: 54, 89 - 113, 31.12.2019
https://doi.org/10.18070/erciyesiibd.496315

Öz

This paper aims at
determining whether the relationship between FDI and economic growth is linear
or not in OECD countries. By employing the panel threshold analysis proposed by
Hansen (1999) we find evidence in favor of the nonlinear relationship between
FDI and economic growth with a single threshold value for FDI. It is
empirically shown that FDI positively impact economic growth when FDI inflows
exceed the threshold value of 1,657, while the reversed effects are observed
for FDI inflows less than 1,657. Therefore, policy makers in host countries
should seek to improve conditions such as free trade zones, trade regimes, tax
incentives, human capital base, financial market regulations, financial system
and infrastructure quality to attract more FDI. 

Kaynakça

  • ACARAVCI, Ali and Ilhan OZTURK; (2012), “Foreign Direct investment, Export and Economic Growth: Empirical Evidence from New EU Countries”, Romanian Journal of Economic Forecasting 2, pp. 52-67.
  • ACARAVCI, Ali ve Müge AKYOL; (2017), “Türkiye’de Doğrudan Yabancı Yatırımlar, Dış Ticaret ve Ekonomik Büyüme İlişkisi”, Uluslararası Ekonomi ve Yenilik Dergisi, 3(1), ss. 17-33.
  • ADAMS, Samuel; (2009), “Foreign Direct Investment, Domestic Investment and Economic Growth in Sub-Saharan Africa”, Journal Policy Modeling, 31(6), pp. 939-949.
  • AKINLO, A.Enisan; (2004), “Foreign Direct Investment and Growth in Nigeria: an Empirical Investigation”, Journal of Policy Modelling, 26, pp. 627-639.
  • ALFARO, Laura; Areendam CHANDA; Sebnem KALEMLI-OZCAN and Selin SAYEK; (2004), “FDI and Economic Growth: The Role of Local Financial Markets”, Journal of International Economics, 64, pp. 89-112.
  • ALLEYNE, Dillon and Stefan EDWARDS; (2011), “Threshold Effects in the Relationship Between Inward Foreign Direct Investment and Import Productivity Growth in Latin America and the Caribbean”, ECLAC-Studies and Perspectives Series-The Caribbean-No. 21., Internet Address:https://repositorio.cepal.org/bitstream/handle/11362/5048/1/S2012121_en .pdf, Date of Access: 26.11.2018.
  • ALVARADOA, Rafael; María IÑIGUEZ and Pablo PONCEA; (2017), “Foreign Direct Investment and Economic Growth in Latin America”, Economic Analysis and Policy, 56, pp. 176-187.
  • ANDRÉS, Javier and Ignacio HERNANDO; (1997), “Does Inflation Harm Economic Growth? Evidence for the OECD”, NBER Working Paper No. 6062, Internet Address: https://www.nber.org/papers/w6062.pdf, Date of Access: 27.11.2018.
  • ANTWI, Samuel; Ebenezer F. E. A. MILLS; Gifty A. MILLS and Xicang ZHAO; (2013), The Impact of FDI to Economic Growth: Empirical Evidence from Ghana”, International Journal of Academic Research in Accounting, Finance and Management Sciences, l3, pp. 18-25.
  • AYAYDIN, Hasan; (2010), “Doğrudan Yabancı Yatırımlar ile Ekonomik Büyüme Arasındaki İlişki”, Dumlupınar Üniversitesi Sosyal Bilimler Dergisi, 26(1), ss. 133-145.
  • BALASUBRAMANYAM, Vudayagiri N.; Mohammed SALİSU and David SAPSFORD; (1996), “Foreign Direct Investment and Growth in EP and IS Countries, The Economic Journal, 106(434), pp. 92-105.
  • BALTAGI, Badi. H.; (2013), Econometric Analysis of Panel Data (Fifth Edition), West Sussex: John Wiley and Sons.
  • BLOMSTROM, Magnus; Robert E. LIPSEY and Mario ZEJAN; (1992), “What Explains Developing Country Growth?”, NBER Working Paper, No: 4132, Internet Address: https://www.nber.org/papers/w4132.pdf, Date of Access: 27.11.2018.
  • BOCUTOĞLU, Ersan; (2009), Makro İktisat: Teoriler ve Politikalar, 9. Baskı, Trabzon: Murathan Yayınevi.
  • BORENSZTEIN, Eduardo; Jose De GREGORIO and Jong-Wha LEE; (1998), “How Does Foreign Direct Investment Affect Economic Growth?”, Journal of International Economics 45, pp. 115-135.
  • DE MELLO, Luiz R. Jr.; (1997), “Foreign Direct Investment in Developing Countries and Growth: A Selective Survey”, Journal of Development Studies, 34, pp. 1-34.
  • DEMEKAS, Dimitri G.; Balázs HORVÁTH; Elina RIBAKOVA and Yi WU; (2005), “Foreign Direct Investment in Southeastern Europe: How (and How Much) Can Policies Help?”, IMF Working Paper, WP/05/110.
  • FALK, Martin; (2009), “High-Tech Exports and Economic Growth in Industrialized Countries”, Applied Economics Letters, 16, pp. 1025–1028.
  • FALKI, Nuzhat; (2009), “Impact of Foreign Direct Investment on Economic Growth in Pakistan”, International Review of Business Research Papers, 5(5), pp. 110-120.
  • FORTE, Rose and Rui MOURA, (2013), “The Effects of Foreign Direct Investment on the Host Country's Economic Growth: Theory and Empirical Evidence”, The Singapore Economic Review, 58(3), 1350017, pp. 1-28.
  • GREGORIO, Jose De; (1992), “Economic Growth in Latin America”, Journal of Development Economics, 39, pp. 59-84.
  • GUI-DIBY, Steve Loris; (2014), “Impact of Foreign Direct Investments on Economic Growth in Africa: Evidence from Three Decades of Panel Data Analyses, Research in Economics, 68, pp. 248-256.
  • HANSEN, Bruce E.; (1999), “Threshold Effects in Non-Dynamic Panels: Estimation, Testing, And Inference”, Journal of Econometrics,93, pp. 345-368.
  • HERMES, Niels and Robert LENSINK; (2003), “Foreign Direct Investment, Financial Development and Economic Growth”, The Journal of Development Studies, 40(1), pp. 142-163.
  • IAMSIRAROJ, Sasi and M. Ali ULUBASOGLU; (2015), “Foreign Direct Investment and Economic Growth: A Real Relationship or Wishful Thinking”, Economic Modelling, 51, pp. 200-213.
  • IAMSIRAROJ, Sasi; (2016), The Foreign Direct Investment-Economic Growth Nexus, International Review of Economics and Finance, 42, pp. 116-133.
  • IM, Kyung So; M. Hashem PESARAN and Yongcheol SHIN; (2003), Testing for Unit Roots in Heterogeneous Panels”, Journal of Econometrics, 115, pp. 53-74.
  • JAYACHANDRAN, Dr. G. and Anbu SEILAN; (2010), “A Causal Relationship Between Trade, Foreign Direct Investment and Economic Growth for India”, International Research Journal of Finance and Economics, 42, pp. 74-88.
  • JILENGA, Moga T.; Helian XU and Igor-Mathieu GONDJE-DACKA; (2016), “The İmpact of External Debt and FDI On Economic Growth: Empirical Evidence from Tanzania”, International Journal of Financial Research, 7(2), pp. 154-162.
  • JYUNG-YI, Wu and Hsu CHICH-CHIANG; (2008), “Does FDI Promote Economic Growth? Evidence from Threshold Regression Analysis”, Economic Bulletin, 15(12), pp. 1-10.
  • KHALIQ, Abdul and Ilan NOY; (2007), “Foreign Direct Investment and Economic Growth: Empirical Evidence from Sectoral Data in Indonesia, Working Papers from University of Hawaii at Manoa, Department of Economics, No: 200726, Internet Address: http://www.economics.hawaii.edu/research/workingpapers/WP_07-26.pdf, Date of Access: 09.11.2018
  • KHAN, Mohsin S. and Abdelhak S. SENHADJI; (2001), “Threshold Effects in the Relationship between Inflation and Growth”, IMF Staff Papers, 48(1), pp. 1-21.
  • LEE, Chien-Chiang and Swee Yoong WONG; (2005), “Inflationary Threshold Effects in The Relationship Between Financial Development and Economic Growth: Evidence From Taiwan and Japan”, Journal of Economic Development, 30(1), pp. 49-69.
  • LEVIN, Andrew; Chien-Fu LIN and Chia-Shang James CHU; (2002), “Unit Root Tests in Panel Data: Asymptotic and Finite-Sample Properties”, Journal of Econometrics, 108, pp. 1-24.
  • LI, Xiaoying and Xiaming LIU; (2005), “Foreign Direct Investment and Economic Growth: An Increasingly Endogenous Relationship”, World Development, 33(3), pp. 393-407.
  • LIU, Xiaohui and Trevor BUCK; (2007), “Innovation Performance and Channels for International Technology Spillovers: Evidence from Chinese High-Tech Industries”, Research Policy, 36(3), pp. 355-366.
  • MANSARAY, B. Ballay; (2018), “The Effect Of Foreign Direct Investment On The Economic Growth Of Sierra Leone”, International Journal of Information Research and Review, 5(8), pp. 5628-5631.
  • MOOSA, Imad A.; (2002), Foreign Direct Investment: Theory, Evidence and Practice, London:Palgrave.
  • NGUYENA, Tho Quynh and Ngoc Kim TO; (2017), “Threshold Effect In The Relationship Between Foreign Direct Investment And Economic Growth: Evidence From Asean Countries”, Asia Pacific Journal of Advanced Business and Social Studies (APJABSS), 3(1), pp. 32-45.
  • ÖZTÜRK, M. Başaran, Gizem VERGİLİ ve Ceyda AKTAN; (2017), “Türkiye’de Doğrudan Yabancı Yatırımlar ile Ekonomik Büyüme İlişkisi: Eşbütünleşme ve Nedensellik Analizi”, Muhasebe ve Vergi Uygulamaları Dergisi, 10. Yıl Özel Sayısı, pp. 132-147.
  • PEGKAS, Panagiotis; (2015), “The impact of FDI on Economic Growth in Eurozone Countries”, The Journal of Economic Asymmetries, 12, pp. 124-132.
  • RAHEEM, I. Dolapo and M. Abimbola OYINLOLA; (2013), “Foreign Direct Investment, Governance and Economic Growth Trilogy: New Evidence from ECOWAS Countries”, Journal of Global and Science Issues, 1(2), pp. 5-14.
  • RAY, Sarbapriya; (2012), “Impact of Foreign Direct Investment on Economic Growth in India: A Cointegration Analysis”, Advances in Information Technology and Management, 2(1), pp. 187-201.
  • ROY, A. Ghosh and Hendrik F. VAN DEN BERG; (2006), “Foreign Direct Investment and Economic Growth: A Time-Series Approach”, Global Economy Journal, 6(1), pp. 1-19.
  • SOLOMON, E. Maeyen; (2011), “Foreign Direct Investment, Host Country Factors and Economic Growth”, Ensayos Revista de Economía, 30(1), pp. 4-70.
  • SOTHAN, Seng; (2017), “Causality between foreign direct investment and economic growth for Cambodia”, Cogent Economics and Finance, 5, 1277860, pp. 1-13.
  • SUNDE, Tafirenyika; (2017), “Foreign Direct İnvestment, Exports and Economic Growth: ADRL and Causality Analysis for South Africa”, Research in International Business and Finance, 41, pp. 434-444.
  • TOPALLI, Nurgün; (2016), “Doğrudan Sermaye Yatırımları, Ticari Dışa Açıklık ve Ekonomik Büyüme Arasındaki İlişki: Türkiye ve BRICS Ülkeleri Örneği”, Doğuş Üniversitesi Dergisi, 17(1), ss. 83-95.
  • USTABAŞ, Ayfer and Özgür Ö. ERSİN; (2016), “The Effects of R&D and High Technology Exports on Economic Growth: A Comparative Cointegration Analysis for Turkey and South Korea”, International Conference On Eurasian Economies, Kaposvar, pp. 44-55. Internet Address: https://avekon.org/papers/1475.pdf, Date of Access: 26.11.2018.
  • WANG, Qunyong; (2015), “Fixed-Effect Panel Threshold Model Using Stata”, The Stata Journal, 15(1), pp. 121-134.
  • YILMAZ, Ömer; Vedat KAYA ve Merter AKINCI; (2011), “Türkiye’de Doğrudan Yabancı Yatırımlar ve Ekonomik Büyümeye Etkisi (1980-2008)”, Atatürk Üniversitesi İktisadi ve İdari Bilimler Dergisi, 25(3-4), ss. 13-30.
  • ZHANG, K. Honglin; (2001a), “How does Foreign Direct Investment Affect Economic Growth in China?”, Economics of Transition, 9(3), pp. 679-693.
  • ZHANG, K. Honglin; (2001b), “Does Foreign Direct Investment Promote Economic Growth? Evidence From East Asia and Latin America”, Contemporary Economic Policy, 19(2), pp. 175-185.

Doğrudan yabancı yatırımlar ve ekonomik büyüme: OECD ülkeleri için panel eşik değer analizi

Yıl 2019, Sayı: 54, 89 - 113, 31.12.2019
https://doi.org/10.18070/erciyesiibd.496315

Öz

Bu çalışmada Hansen (1999)
tarafından geliştirilen panel eşik değer analizi kullanılarak 27 OECD ülkesinde
DYY ile ekonomik büyüme arasındaki ilişkinin doğrusal olup olmadığının tespit
edilmesi amaçlanmıştır. Elde edilen bulgular, DYY ile ekonomik büyüme arasında
doğrusal bir ilişki olmadığına ve DYY için tek eşik değer bulunduğuna dair
güçlü kanıtlar sunmaktadır. Bu sonuç, DYY’nin ev sahibi ülkeye giriş düzeyine
bağlı olarak ekonomik büyümeyi farklı şekillerde etkileyebileceğini
göstermektedir. Analizde incelenen ülke grubu için DYY girişleri, 1,657 eşik
değer seviyesinin üzerine çıktığında DYY’ler ekonomik büyümeyi olumlu
etkilemekte bu seviyenin altında ise bu etki tersine dönmektedir. Bu yüzden ev
sahibi ülkelerde politika yapıcılar, DYY çekmek için serbest ticaret bölgeleri,
ticaret rejimi, vergi teşvikleri, beşeri sermaye tabanı, finansal piyasa
düzenlemeleri, finansal sistem ve altyapı kalitesi gibi koşulları iyileştirmeyi
amaçlamalıdırlar.

Kaynakça

  • ACARAVCI, Ali and Ilhan OZTURK; (2012), “Foreign Direct investment, Export and Economic Growth: Empirical Evidence from New EU Countries”, Romanian Journal of Economic Forecasting 2, pp. 52-67.
  • ACARAVCI, Ali ve Müge AKYOL; (2017), “Türkiye’de Doğrudan Yabancı Yatırımlar, Dış Ticaret ve Ekonomik Büyüme İlişkisi”, Uluslararası Ekonomi ve Yenilik Dergisi, 3(1), ss. 17-33.
  • ADAMS, Samuel; (2009), “Foreign Direct Investment, Domestic Investment and Economic Growth in Sub-Saharan Africa”, Journal Policy Modeling, 31(6), pp. 939-949.
  • AKINLO, A.Enisan; (2004), “Foreign Direct Investment and Growth in Nigeria: an Empirical Investigation”, Journal of Policy Modelling, 26, pp. 627-639.
  • ALFARO, Laura; Areendam CHANDA; Sebnem KALEMLI-OZCAN and Selin SAYEK; (2004), “FDI and Economic Growth: The Role of Local Financial Markets”, Journal of International Economics, 64, pp. 89-112.
  • ALLEYNE, Dillon and Stefan EDWARDS; (2011), “Threshold Effects in the Relationship Between Inward Foreign Direct Investment and Import Productivity Growth in Latin America and the Caribbean”, ECLAC-Studies and Perspectives Series-The Caribbean-No. 21., Internet Address:https://repositorio.cepal.org/bitstream/handle/11362/5048/1/S2012121_en .pdf, Date of Access: 26.11.2018.
  • ALVARADOA, Rafael; María IÑIGUEZ and Pablo PONCEA; (2017), “Foreign Direct Investment and Economic Growth in Latin America”, Economic Analysis and Policy, 56, pp. 176-187.
  • ANDRÉS, Javier and Ignacio HERNANDO; (1997), “Does Inflation Harm Economic Growth? Evidence for the OECD”, NBER Working Paper No. 6062, Internet Address: https://www.nber.org/papers/w6062.pdf, Date of Access: 27.11.2018.
  • ANTWI, Samuel; Ebenezer F. E. A. MILLS; Gifty A. MILLS and Xicang ZHAO; (2013), The Impact of FDI to Economic Growth: Empirical Evidence from Ghana”, International Journal of Academic Research in Accounting, Finance and Management Sciences, l3, pp. 18-25.
  • AYAYDIN, Hasan; (2010), “Doğrudan Yabancı Yatırımlar ile Ekonomik Büyüme Arasındaki İlişki”, Dumlupınar Üniversitesi Sosyal Bilimler Dergisi, 26(1), ss. 133-145.
  • BALASUBRAMANYAM, Vudayagiri N.; Mohammed SALİSU and David SAPSFORD; (1996), “Foreign Direct Investment and Growth in EP and IS Countries, The Economic Journal, 106(434), pp. 92-105.
  • BALTAGI, Badi. H.; (2013), Econometric Analysis of Panel Data (Fifth Edition), West Sussex: John Wiley and Sons.
  • BLOMSTROM, Magnus; Robert E. LIPSEY and Mario ZEJAN; (1992), “What Explains Developing Country Growth?”, NBER Working Paper, No: 4132, Internet Address: https://www.nber.org/papers/w4132.pdf, Date of Access: 27.11.2018.
  • BOCUTOĞLU, Ersan; (2009), Makro İktisat: Teoriler ve Politikalar, 9. Baskı, Trabzon: Murathan Yayınevi.
  • BORENSZTEIN, Eduardo; Jose De GREGORIO and Jong-Wha LEE; (1998), “How Does Foreign Direct Investment Affect Economic Growth?”, Journal of International Economics 45, pp. 115-135.
  • DE MELLO, Luiz R. Jr.; (1997), “Foreign Direct Investment in Developing Countries and Growth: A Selective Survey”, Journal of Development Studies, 34, pp. 1-34.
  • DEMEKAS, Dimitri G.; Balázs HORVÁTH; Elina RIBAKOVA and Yi WU; (2005), “Foreign Direct Investment in Southeastern Europe: How (and How Much) Can Policies Help?”, IMF Working Paper, WP/05/110.
  • FALK, Martin; (2009), “High-Tech Exports and Economic Growth in Industrialized Countries”, Applied Economics Letters, 16, pp. 1025–1028.
  • FALKI, Nuzhat; (2009), “Impact of Foreign Direct Investment on Economic Growth in Pakistan”, International Review of Business Research Papers, 5(5), pp. 110-120.
  • FORTE, Rose and Rui MOURA, (2013), “The Effects of Foreign Direct Investment on the Host Country's Economic Growth: Theory and Empirical Evidence”, The Singapore Economic Review, 58(3), 1350017, pp. 1-28.
  • GREGORIO, Jose De; (1992), “Economic Growth in Latin America”, Journal of Development Economics, 39, pp. 59-84.
  • GUI-DIBY, Steve Loris; (2014), “Impact of Foreign Direct Investments on Economic Growth in Africa: Evidence from Three Decades of Panel Data Analyses, Research in Economics, 68, pp. 248-256.
  • HANSEN, Bruce E.; (1999), “Threshold Effects in Non-Dynamic Panels: Estimation, Testing, And Inference”, Journal of Econometrics,93, pp. 345-368.
  • HERMES, Niels and Robert LENSINK; (2003), “Foreign Direct Investment, Financial Development and Economic Growth”, The Journal of Development Studies, 40(1), pp. 142-163.
  • IAMSIRAROJ, Sasi and M. Ali ULUBASOGLU; (2015), “Foreign Direct Investment and Economic Growth: A Real Relationship or Wishful Thinking”, Economic Modelling, 51, pp. 200-213.
  • IAMSIRAROJ, Sasi; (2016), The Foreign Direct Investment-Economic Growth Nexus, International Review of Economics and Finance, 42, pp. 116-133.
  • IM, Kyung So; M. Hashem PESARAN and Yongcheol SHIN; (2003), Testing for Unit Roots in Heterogeneous Panels”, Journal of Econometrics, 115, pp. 53-74.
  • JAYACHANDRAN, Dr. G. and Anbu SEILAN; (2010), “A Causal Relationship Between Trade, Foreign Direct Investment and Economic Growth for India”, International Research Journal of Finance and Economics, 42, pp. 74-88.
  • JILENGA, Moga T.; Helian XU and Igor-Mathieu GONDJE-DACKA; (2016), “The İmpact of External Debt and FDI On Economic Growth: Empirical Evidence from Tanzania”, International Journal of Financial Research, 7(2), pp. 154-162.
  • JYUNG-YI, Wu and Hsu CHICH-CHIANG; (2008), “Does FDI Promote Economic Growth? Evidence from Threshold Regression Analysis”, Economic Bulletin, 15(12), pp. 1-10.
  • KHALIQ, Abdul and Ilan NOY; (2007), “Foreign Direct Investment and Economic Growth: Empirical Evidence from Sectoral Data in Indonesia, Working Papers from University of Hawaii at Manoa, Department of Economics, No: 200726, Internet Address: http://www.economics.hawaii.edu/research/workingpapers/WP_07-26.pdf, Date of Access: 09.11.2018
  • KHAN, Mohsin S. and Abdelhak S. SENHADJI; (2001), “Threshold Effects in the Relationship between Inflation and Growth”, IMF Staff Papers, 48(1), pp. 1-21.
  • LEE, Chien-Chiang and Swee Yoong WONG; (2005), “Inflationary Threshold Effects in The Relationship Between Financial Development and Economic Growth: Evidence From Taiwan and Japan”, Journal of Economic Development, 30(1), pp. 49-69.
  • LEVIN, Andrew; Chien-Fu LIN and Chia-Shang James CHU; (2002), “Unit Root Tests in Panel Data: Asymptotic and Finite-Sample Properties”, Journal of Econometrics, 108, pp. 1-24.
  • LI, Xiaoying and Xiaming LIU; (2005), “Foreign Direct Investment and Economic Growth: An Increasingly Endogenous Relationship”, World Development, 33(3), pp. 393-407.
  • LIU, Xiaohui and Trevor BUCK; (2007), “Innovation Performance and Channels for International Technology Spillovers: Evidence from Chinese High-Tech Industries”, Research Policy, 36(3), pp. 355-366.
  • MANSARAY, B. Ballay; (2018), “The Effect Of Foreign Direct Investment On The Economic Growth Of Sierra Leone”, International Journal of Information Research and Review, 5(8), pp. 5628-5631.
  • MOOSA, Imad A.; (2002), Foreign Direct Investment: Theory, Evidence and Practice, London:Palgrave.
  • NGUYENA, Tho Quynh and Ngoc Kim TO; (2017), “Threshold Effect In The Relationship Between Foreign Direct Investment And Economic Growth: Evidence From Asean Countries”, Asia Pacific Journal of Advanced Business and Social Studies (APJABSS), 3(1), pp. 32-45.
  • ÖZTÜRK, M. Başaran, Gizem VERGİLİ ve Ceyda AKTAN; (2017), “Türkiye’de Doğrudan Yabancı Yatırımlar ile Ekonomik Büyüme İlişkisi: Eşbütünleşme ve Nedensellik Analizi”, Muhasebe ve Vergi Uygulamaları Dergisi, 10. Yıl Özel Sayısı, pp. 132-147.
  • PEGKAS, Panagiotis; (2015), “The impact of FDI on Economic Growth in Eurozone Countries”, The Journal of Economic Asymmetries, 12, pp. 124-132.
  • RAHEEM, I. Dolapo and M. Abimbola OYINLOLA; (2013), “Foreign Direct Investment, Governance and Economic Growth Trilogy: New Evidence from ECOWAS Countries”, Journal of Global and Science Issues, 1(2), pp. 5-14.
  • RAY, Sarbapriya; (2012), “Impact of Foreign Direct Investment on Economic Growth in India: A Cointegration Analysis”, Advances in Information Technology and Management, 2(1), pp. 187-201.
  • ROY, A. Ghosh and Hendrik F. VAN DEN BERG; (2006), “Foreign Direct Investment and Economic Growth: A Time-Series Approach”, Global Economy Journal, 6(1), pp. 1-19.
  • SOLOMON, E. Maeyen; (2011), “Foreign Direct Investment, Host Country Factors and Economic Growth”, Ensayos Revista de Economía, 30(1), pp. 4-70.
  • SOTHAN, Seng; (2017), “Causality between foreign direct investment and economic growth for Cambodia”, Cogent Economics and Finance, 5, 1277860, pp. 1-13.
  • SUNDE, Tafirenyika; (2017), “Foreign Direct İnvestment, Exports and Economic Growth: ADRL and Causality Analysis for South Africa”, Research in International Business and Finance, 41, pp. 434-444.
  • TOPALLI, Nurgün; (2016), “Doğrudan Sermaye Yatırımları, Ticari Dışa Açıklık ve Ekonomik Büyüme Arasındaki İlişki: Türkiye ve BRICS Ülkeleri Örneği”, Doğuş Üniversitesi Dergisi, 17(1), ss. 83-95.
  • USTABAŞ, Ayfer and Özgür Ö. ERSİN; (2016), “The Effects of R&D and High Technology Exports on Economic Growth: A Comparative Cointegration Analysis for Turkey and South Korea”, International Conference On Eurasian Economies, Kaposvar, pp. 44-55. Internet Address: https://avekon.org/papers/1475.pdf, Date of Access: 26.11.2018.
  • WANG, Qunyong; (2015), “Fixed-Effect Panel Threshold Model Using Stata”, The Stata Journal, 15(1), pp. 121-134.
  • YILMAZ, Ömer; Vedat KAYA ve Merter AKINCI; (2011), “Türkiye’de Doğrudan Yabancı Yatırımlar ve Ekonomik Büyümeye Etkisi (1980-2008)”, Atatürk Üniversitesi İktisadi ve İdari Bilimler Dergisi, 25(3-4), ss. 13-30.
  • ZHANG, K. Honglin; (2001a), “How does Foreign Direct Investment Affect Economic Growth in China?”, Economics of Transition, 9(3), pp. 679-693.
  • ZHANG, K. Honglin; (2001b), “Does Foreign Direct Investment Promote Economic Growth? Evidence From East Asia and Latin America”, Contemporary Economic Policy, 19(2), pp. 175-185.
Toplam 53 adet kaynakça vardır.

Ayrıntılar

Birincil Dil Türkçe
Bölüm Makaleler
Yazarlar

Özgür Koçbulut 0000-0003-3092-8400

Halil Altıntaş 0000-0002-8565-4294

Yayımlanma Tarihi 31 Aralık 2019
Kabul Tarihi 11 Mayıs 2019
Yayımlandığı Sayı Yıl 2019 Sayı: 54

Kaynak Göster

APA Koçbulut, Ö., & Altıntaş, H. (2019). Doğrudan yabancı yatırımlar ve ekonomik büyüme: OECD ülkeleri için panel eşik değer analizi. Erciyes Üniversitesi İktisadi Ve İdari Bilimler Fakültesi Dergisi(54), 89-113. https://doi.org/10.18070/erciyesiibd.496315

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