INVESTIGATION OF THE IMPACT OF FOREIGN DIRECT INVESTMENT ON RESEARCH AND DEVELOPMENT SPENDING IN THE EU COUNTRIES

Abstract

Foreign direct investment (FDI) is a crucial component, particularly for research and development (R&D) initiatives. In countries receiving foreign direct investment, there have been improvements in capital accumulation, a skilled workforce, and research and development activities. Consequently, nations are endeavoring to attract global finance. Currently, scholars are interested in the economic factors associated with FDI are currently a topic of interest for scholars. This study aims to examine the correlation between FDI and R&D in the top ten European Union (EU) member states (Austria, Belgium, Czechia, Denmark, Finland, France, Germany, the Netherlands, Slovenia, and Sweden) that dedicate the greatest proportion of resources to R&D. The study initially assessed the series' stationarity using the CIPS and CADF unit root tests, utilizing data sets from 1996 to 2021. The autoregressive distributed lag (ARDL) approach was employed in accordance with the obtained results. The study's results were analyzed individually for each country, concluding that FDI did not positively contribute to the R&D activities of all countries, and its impact on certain nations was not as anticipated. The nations' technological advancement clearly links to this predicament.

Keywords

• International Economics
• Foreign Direct Investment
• Research and Development
• European Union

DOĞRUDAN YABANCI YATIRIMIN ARAŞTIRMA GELİŞTİRME HARCAMALARINA ETKİSİ: AVRUPA BİRLİĞİ ÜLKELERİ ÖRNEĞİ

Öz

Doğrudan yabancı yatırımlar (FDI) özellikle araştırma ve geliştirme (R&D) faaliyetleri için önemli bir unsur olmaktadır. FDI’ın yöneldiği ülkelerin sermaye birikimlerinde, eğitimli iş gücünde, R&D faaliyetlerinde artışlar gözlenmektedir. Bu sebeple ülkeler dünyada dolaşan sermayeleri kendilerine çekmeye çalışmaktadırlar. Bu noktada FDI’ın etkileşimde bulunduğu ekonomik unsurların neler olduğu araştırmacılar tarafından merak edilen bir konu olmaktadır. Bu çalışma, FDI ile R&D arasındaki ilişkinin Avrupa Birliği’ne (EU) üye ve R&D’ye en çok pay ayıran ilk on ülke (Austria, Belgium, Czechia, Denmark, Finland, France, Germany, Netherlands, Slovenia and Sweden) için araştırmayı amaçlanmaktadır. 1996-2021 yılları veri seti aralığı olarak seçilen çalışmada öncelikle serilerin durağan olup olmadığı CIPS ve CADF birim kök testleri ile test edilmiştir. Elde edilen sonuçlar doğrultusunda yöntem olarak the autoregressive distributed lag (ARDL) kullanılmıştır. Çalışmanın sonucu her bir ülke için ayrı ayrı incelenmiştir ve tüm ülkeler için FDI’ın ülkelerin R&D faaliyetlerine olumlu katısı olmadığı birkaç ülkeye etkisinin beklenen gibi olmadığı sonucuna varılmıştır. Bu durum ülkelerin teknolojik gelişmişliklerinle ilgili olduğu açıktır.

Anahtar Kelimeler

• Uluslararası İktisat
• Doğrudan Yabancı Yatırım
• Araştırma ve Geliştirme
• Avrupa Birliği

Kaynakça

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