MEDIATING EFFECT OF THE GOVERNANCE INDICATORS IN THE RELATIONSHIP BETWEEN FOREIGN DIRECT INVESTMENT AND ECONOMIC PERFORMANCE: EMPIRICAL EVIDENCE FROM THE BRICS COUNTRIES

Yıl 2016, Cilt: 12 Sayı: 27, 1 - 22, 01.01.2016

Harun Bal Emrah Eray Akça Müge Manga

https://doi.org/10.17130/10.17130/ijmeb.2016.12.27.995

Öz

In this study, the relationship between Foreign Direct Investment FDI and economic performance considering governance indicators’ mediating effect investigated for the BRICS countries using hierarchical panel regression analysis for the period 2000-2013. The results exhibit that there is a partial mediating effect between FDI and per capita Gross Domestic Product. FDI increases the economic performance expected as an expected result, however, this finding shows that governance indicators’ mediating effect seems to be an obstacle in the increasing of the economic performance. General findings emphasis on the improving of governance indicators’ mediating effect policies

Anahtar Kelimeler

Foreign Direct Investment, Global Governance Indicators, Mediation Effect BRICS Countries.

DOĞRUDAN YABANCI SERMAYE YATIRIMI VE İKTİSADİ PERFORMANS ARASINDAKI İLİŞKIDE YÖNETİŞİM GÖSTERGELERİNİN ARACILIK ETKİSİ: BRICS ÜLKELERİNDEN AMPİRİK BULGULAR

Öz

Bu çalışma, BRICS ülkeleri için yönetişim göstergelerinin aracılık etkisi rolüne odaklanarak, doğrudan yabancı sermaye yatırımları DYSY ve iktisadi performans arasındaki ilişkiyi belirlemeye çalışmaktadır. 2010-2013 dönemi yıllık panel verilerin kullanıldığı çalışmada hiyerarşik panel regresyon analizleri uygulanmıştır. Hiyerarşik panel regresyon analizinden elde edilen sonuçlar, DYSY ve kişi başına GSYH arasındaki ilişkide yönetişim göstergelerinin kısmi aracılık etkisi olduğunu ortaya koymaktadır. Bu bulgu, iktisadi performansı artırması beklenen DYSY’nın, küresel yönetişim göstergelerinin aracılık rolüne bağlı olarak iktisadi performansın artmasına engel teşkil ettiğini göstermektedir. Genel bulgular, BRICS ülkeleri için küresel yönetişim göstergelerini iyileştirmeye yönelik politikaların önemine vurgu yapmaktadır.

Anahtar Kelimeler

Doğrudan Yabancı Sermaye Yatırımı, Küresel Yönetişim Göstergeleri Aracılık Etkisi, BRICS Ülkeleri.

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