Araştırma Makalesi
BibTex RIS Kaynak Göster

THE EFFECT OF ECONOMIC FREEDOMS ON FOREIGN DIRECT INVESTMENTS: A PANEL DATA ANALYSIS ON CENTRAL AND SOUTH ASIAN COUNTRIES

Yıl 2021, Cilt: 6 Sayı: 11, 76 - 86, 31.01.2021

Öz

Foreign direct investment could contributes positively in the economic development of a country both financial and in terms of technological and human resources. In recent years Central and South Asian countries have also made significant economic progress by drawing significant foreign direct investments. In most of these countries, the role of the state in the economy was quite high in the past. This study examined the effect of economic freedoms on foreign direct investments in these countries with panel data analysis. As a result of panel data analysis, it revealed that were statistically significant and positive relation between foreign direct investment and economic freedoms. As a result, it can be said that the countries which constitute the sample of the study can attract more foreign direct investment by improving their economic freedoms.

Kaynakça

  • Ajide, K. B., ve Eregha, P. B. (2015). “Foreign Direct Investment, Economic Freedom and Economic Performance in Sub-Saharan Africa”, Managing Global Transitions: International Research Journal, 13(2), 43-57.
  • Alexander, J. S. (2014). The Rule of Law and Foreign Direct Investment in the Developing World. (Doktora), University Of California, Irvine
  • Asiedu, E. (2013). Foreign Direct Investment, Natural Resources And Institutions. International Growth Centre, İngiltere: Bebbington, J., ve Unerman, J. (2018). “Achieving the United Nations Sustainable Development Goals: An Enabling Role For Accounting Research”, Accounting, Auditing & Accountability Journal, 31(1), 2-24.
  • Beheshtitabar, E., ve Irgaliyev, A. (2008). The Impact of Economic Freedom on FDI Inflows to Developing Countries: The Case of the Middle East. (Bachelor), Jönköping University, İsveç.
  • Bengoa, M., ve Sanchez-Robles, B. (2003). “Foreign Direct Investment, Economic Freedom And Growth: New Evidence From Latin America”, European Journal of Political Economy, 19(3), 529-545.
  • Berggren, N., ve Jordahl, H. (2005). “Does Free Trade Really Reduce Growth? Further Testing Using The Economic Freedom Index”, Public Choice, 122(1-2), 99-114.
  • Goel, R. K., ve Nelson, M. A. (2005). “Economic Freedom Versus Political Freedom: Cross-Country Influences On Corruption”, Australian Economic Papers, 44(2), 121-133. doi:10.1111/j.1467-8454.2005.00253.x
  • Grochová, L., ve Střelec, L. (2013). “Heteroskedasticity, Temporal And Spatial Correlation Matter”, Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, 61(7), 2151-2155.
  • Grubel, H. G. (1998). “Economic Freedom And Human Welfare: Some Empirical Findings”, Cato Journal, 18, 287.
  • Gui-Diby, S. L. (2014). “Impact Of Foreign Direct Investments On Economic Growth In Africa: Evidence From Three Decades Of Panel Data Analyses”, Research in Economics, 68(3), 248-256. doi:https://doi.org/10.1016/j.rie.2014.04.003
  • Hayat, A. (2018). “FDI And Economic Growth: The Role Of Natural Resources?”, Journal of Economic Studies, 45(2), 283-295. doi:10.1108/JES-05-2015-0082
  • Heckelman, J. C. (2000). “Economic Freedom and Economic Growth: A Short-Run Causal Investigation”, Journal of Applied Economics, 3(1), 71-91. doi:10.1080/15140326.2000.12040546
  • Heritage. (2019). Economic Freedom Index. https://www.heritage.org/index/explore
  • Hiestand, T. (2005). “Using Pooled Model, Random Model And Fixed Model Multiple Regression To Measure Foreign Direct Investment In Taiwan”, International Business Economics Research Journal, 4(12), 37-52.
  • Imtiaz, S., ve Bashir, M. F. (2017). “Economic Freedom And Foreign Direct Investment In South Asian Countries”, Theoretical Applied Economics, 24(2), 281-294.
  • Islam, S. (1996). “Economic Freedom, Per Capita Income And Economic Growth”, Applied Economics Letters, 3(9), 595-597. doi:10.1080/135048596356032
  • Kaufmann, D. (2019). The Worldwide Governance Indicators. http://info.worldbank.org/governance/wgi/
  • Mikhaylov, S., ve Marsh, M. (2009). “Policy Performance And Support For European Integration”, (Ed.) Thomassen J., The Legitimacy of the European Union After Enlargement (pp. 142-164). England: Oxford University Press.
  • Moussa, M., Çaha, H., ve Karagöz, M. (2016). “Review of Economic Freedom Impact on FDI: New Evidence from Fragile and Conflict Countries”, Procedia Economics and Finance, 38, 163-173. doi:https://doi.org/10.1016/S2212-5671(16)30187-3
  • Nizam, I., ve Hassan, Z. (2018). “The Impact Of Good Governance Of Foreign Direct Investment Inflows: A Study On The South Asia Region”, International Journal of Accounting & Business Management, 6(1), 66-79.
  • Nyström, K. (2008). “The Institutions Of Economic Freedom And Entrepreneurship: Evidence From Panel Data”, Public Choice, 136(3), 269-282. doi:10.1007/s11127-008-9295-9
  • Önder, Ş., ve Kavak, N. N. (2019). “Sigorta Şirketlerinde Kurumsal Yönetim Ve Finansal Performans Arasindaki Ilişki”, Dumlupınar Üniversitesi Sosyal Bilimler Dergisi(62), 170-183.
  • Özcan, B., ve Ayse, A. (2010). “Dogrudan Yabancı Yatırımların Belirleyicileri Üzerine Bir Analiz: OECD Örnegi”, Istanbul University Econometrics Statistics e-Journal, 12(1), 65-88.
  • Quazi, R. (2007). “Economic Freedom And Foreign Direct Investment In East Asia”, Journal of the Asia Pacific Economy, 12(3), 329-344.
  • Reed, W. R., ve Ye, H. (2011). “Which Panel Data Estimator Should I Use?”, Applied economics, 43(8), 985-1000. doi:10.1080/00036840802600087
  • Rocha, R., Morales, M., ve Thorburn, C. (2008). “An Empirical Analysis Of The Annuity Rate In Chile”, Journal of Pension Economics Finance, 7(1), 95-119.
  • Şenalp, B. (2018). “Foreign Direct Investment, Economic Growth and Economic Freedom: A Literature Survey”, İstanbul İktisat Dergisi, 68(2), 301-336.
  • Tiwari, A. K. (2011). “Foreign Aid, FDI, Economic Freedom And Economic Growth In Asian Countries”, Global Economy Journal, 11(3), 1-28.
  • Tuman, J. P., ve Emmert, C. F. (2004). “The Political Economy of US Foreign Direct Investment In Latin America: A Reappraisal”, Latin American Research Review, 39(3), 9-28.

Ekonomik Özgürlüklerin Doğrudan Yabancı Sermaye Yatırımları Üzerindeki Etkisi: Orta ve Güney Asya Ülkeleri Üzerine Bir Panel Veri Analizi

Yıl 2021, Cilt: 6 Sayı: 11, 76 - 86, 31.01.2021

Öz

Doğrudan yabancı yatırımlar bir ülkenin ekonomik olarak gelişmesinde hem finansal anlamda, hemde teknoloji ve insan kaynağı anlamda olumlu katkılar yapabilmektedir. Orta ve Güney Asya ülkeleri de son yıllarda önemli derecede doğrudan yabancı yatırımlar çekerek ekonomik anlamda gelişme kaydetmektedirler. Bu ülkelerin önemli bir kısmında, geçmişte devletin ekonomideki rolü oldukça yüksekti. Bu çalışma ile söz konusu ülkelerde ekonomik özgürlüklerin, doğrudan yabancı yatırımlar üzerindeki etkisi panel veri analizi ile incelenmektedir. Gerçekleştirilen panel veri analizi sonucunda ekonomik özgürlüklerin doğrudan yabancı yatırımları çekmede istatistiksel olarak önemli ve pozitif bir ilişki olduğu ortaya konmuştur. Örneklem olarak alınan ülkelerin ekonomik özgürlüklerini geliştirmeleri ile daha fazla doğrudan yabancı yatırım çekebileceği söylenebilir.

Kaynakça

  • Ajide, K. B., ve Eregha, P. B. (2015). “Foreign Direct Investment, Economic Freedom and Economic Performance in Sub-Saharan Africa”, Managing Global Transitions: International Research Journal, 13(2), 43-57.
  • Alexander, J. S. (2014). The Rule of Law and Foreign Direct Investment in the Developing World. (Doktora), University Of California, Irvine
  • Asiedu, E. (2013). Foreign Direct Investment, Natural Resources And Institutions. International Growth Centre, İngiltere: Bebbington, J., ve Unerman, J. (2018). “Achieving the United Nations Sustainable Development Goals: An Enabling Role For Accounting Research”, Accounting, Auditing & Accountability Journal, 31(1), 2-24.
  • Beheshtitabar, E., ve Irgaliyev, A. (2008). The Impact of Economic Freedom on FDI Inflows to Developing Countries: The Case of the Middle East. (Bachelor), Jönköping University, İsveç.
  • Bengoa, M., ve Sanchez-Robles, B. (2003). “Foreign Direct Investment, Economic Freedom And Growth: New Evidence From Latin America”, European Journal of Political Economy, 19(3), 529-545.
  • Berggren, N., ve Jordahl, H. (2005). “Does Free Trade Really Reduce Growth? Further Testing Using The Economic Freedom Index”, Public Choice, 122(1-2), 99-114.
  • Goel, R. K., ve Nelson, M. A. (2005). “Economic Freedom Versus Political Freedom: Cross-Country Influences On Corruption”, Australian Economic Papers, 44(2), 121-133. doi:10.1111/j.1467-8454.2005.00253.x
  • Grochová, L., ve Střelec, L. (2013). “Heteroskedasticity, Temporal And Spatial Correlation Matter”, Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, 61(7), 2151-2155.
  • Grubel, H. G. (1998). “Economic Freedom And Human Welfare: Some Empirical Findings”, Cato Journal, 18, 287.
  • Gui-Diby, S. L. (2014). “Impact Of Foreign Direct Investments On Economic Growth In Africa: Evidence From Three Decades Of Panel Data Analyses”, Research in Economics, 68(3), 248-256. doi:https://doi.org/10.1016/j.rie.2014.04.003
  • Hayat, A. (2018). “FDI And Economic Growth: The Role Of Natural Resources?”, Journal of Economic Studies, 45(2), 283-295. doi:10.1108/JES-05-2015-0082
  • Heckelman, J. C. (2000). “Economic Freedom and Economic Growth: A Short-Run Causal Investigation”, Journal of Applied Economics, 3(1), 71-91. doi:10.1080/15140326.2000.12040546
  • Heritage. (2019). Economic Freedom Index. https://www.heritage.org/index/explore
  • Hiestand, T. (2005). “Using Pooled Model, Random Model And Fixed Model Multiple Regression To Measure Foreign Direct Investment In Taiwan”, International Business Economics Research Journal, 4(12), 37-52.
  • Imtiaz, S., ve Bashir, M. F. (2017). “Economic Freedom And Foreign Direct Investment In South Asian Countries”, Theoretical Applied Economics, 24(2), 281-294.
  • Islam, S. (1996). “Economic Freedom, Per Capita Income And Economic Growth”, Applied Economics Letters, 3(9), 595-597. doi:10.1080/135048596356032
  • Kaufmann, D. (2019). The Worldwide Governance Indicators. http://info.worldbank.org/governance/wgi/
  • Mikhaylov, S., ve Marsh, M. (2009). “Policy Performance And Support For European Integration”, (Ed.) Thomassen J., The Legitimacy of the European Union After Enlargement (pp. 142-164). England: Oxford University Press.
  • Moussa, M., Çaha, H., ve Karagöz, M. (2016). “Review of Economic Freedom Impact on FDI: New Evidence from Fragile and Conflict Countries”, Procedia Economics and Finance, 38, 163-173. doi:https://doi.org/10.1016/S2212-5671(16)30187-3
  • Nizam, I., ve Hassan, Z. (2018). “The Impact Of Good Governance Of Foreign Direct Investment Inflows: A Study On The South Asia Region”, International Journal of Accounting & Business Management, 6(1), 66-79.
  • Nyström, K. (2008). “The Institutions Of Economic Freedom And Entrepreneurship: Evidence From Panel Data”, Public Choice, 136(3), 269-282. doi:10.1007/s11127-008-9295-9
  • Önder, Ş., ve Kavak, N. N. (2019). “Sigorta Şirketlerinde Kurumsal Yönetim Ve Finansal Performans Arasindaki Ilişki”, Dumlupınar Üniversitesi Sosyal Bilimler Dergisi(62), 170-183.
  • Özcan, B., ve Ayse, A. (2010). “Dogrudan Yabancı Yatırımların Belirleyicileri Üzerine Bir Analiz: OECD Örnegi”, Istanbul University Econometrics Statistics e-Journal, 12(1), 65-88.
  • Quazi, R. (2007). “Economic Freedom And Foreign Direct Investment In East Asia”, Journal of the Asia Pacific Economy, 12(3), 329-344.
  • Reed, W. R., ve Ye, H. (2011). “Which Panel Data Estimator Should I Use?”, Applied economics, 43(8), 985-1000. doi:10.1080/00036840802600087
  • Rocha, R., Morales, M., ve Thorburn, C. (2008). “An Empirical Analysis Of The Annuity Rate In Chile”, Journal of Pension Economics Finance, 7(1), 95-119.
  • Şenalp, B. (2018). “Foreign Direct Investment, Economic Growth and Economic Freedom: A Literature Survey”, İstanbul İktisat Dergisi, 68(2), 301-336.
  • Tiwari, A. K. (2011). “Foreign Aid, FDI, Economic Freedom And Economic Growth In Asian Countries”, Global Economy Journal, 11(3), 1-28.
  • Tuman, J. P., ve Emmert, C. F. (2004). “The Political Economy of US Foreign Direct Investment In Latin America: A Reappraisal”, Latin American Research Review, 39(3), 9-28.
Toplam 29 adet kaynakça vardır.

Ayrıntılar

Birincil Dil Türkçe
Bölüm Makaleler
Yazarlar

Hüseyin Önder 0000-0002-3779-1067

Abdulhanan Zarıfy 0000-0003-4601-681X

Yayımlanma Tarihi 31 Ocak 2021
Yayımlandığı Sayı Yıl 2021 Cilt: 6 Sayı: 11

Kaynak Göster

APA Önder, H., & Zarıfy, A. (2021). Ekonomik Özgürlüklerin Doğrudan Yabancı Sermaye Yatırımları Üzerindeki Etkisi: Orta ve Güney Asya Ülkeleri Üzerine Bir Panel Veri Analizi. Uluslararası Afro-Avrasya Araştırmaları Dergisi, 6(11), 76-86.

All rights reserved. International Journal of Afro-Eurasian Research (IJAR) is an International refereed journal and published biannually. Authors are responsible for the content and linguistic of their articles. Articles published here could not be used without referring to the Journal. The opinions in the articles published belong to the authors only and do not reflect those of International Journal of Afro-Eurasian Research.