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

Yıl 2025, Cilt: 21 Sayı: 2, 610 - 624, 30.06.2025

Öz

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.

Kaynakça

  • Bhattacharya, M., Okafor, L. E., & Pradeep, V. (2021). International firm activities, r&d, and productivity: Evidence from Indian manufacturing firms. Economic Modelling, 97(1), 1-13.
  • Bajo-Rubio, O. Díaz-Mora, C. & Díaz-Roldán, C. (2010). Foreign direct investment and regional growth: An analysis of the spanish case. Regional Studies, 44(3), 373–382.
  • Basu, P., Chakraborty, C., & Reagle, D. (2003). Liberalization, fdi, and growth in developing countries: A panel cointegration approach. Economic Inquiry, 41(3), 510-516.
  • Baskaran, A. & Muchie, M. (2008). Foreign direct investment and internationalization of r&d: The case of BRICS economies. DIIPER Research Series, 7(1), 1-34.
  • Bayarcelik, E. B., & Taşel, F. (2012). Research and development: source of economic growth. Procedia-Social and Behavioral Sciences, 58(1), 744-753.
  • Blanco, L. R., Gu, J., & Prieger, J. E. (2016). The impact of research and development on economic growth and productivity in the US states. Southern Economic Journal, 82(3), 914-934.
  • Borensztein, E., De Gregorio, J., & Lee, J. W. (1998). How does foreign direct investment affect economic growth? Journal of International Economics, 45(1), 115-135.
  • Burlea‐Schiopoiu, A., Brostescu, S., & Popescu, L. (2023). The impact of foreign direct investment on the economic development of emerging countries of the European Union. International Journal of Finance & Economics, 28(2), 2148-2177.
  • Braconier, H., Ekholm, K. & Knarvik, K.H.M. (2001). In search of FDI-transmitted r&d spillovers: A study based on Swedish data. Review of World Economics, 137, 644-665.
  • Breusch, T. S., & Pagan, A. R. (1980). The Lagrange multiplier test and its applications to model specification in econometrics. The Review of Economic Studies, 47(1), 239–253. DOI https://doi.org/10.2307/2297111
  • Cai, H., Boateng, A., & Guney, Y. (2019). Host country institutions and firm-level r&d influences: An analysis of European Union fdi in China. Research in International Business and Finance, 47, 311-326.
  • Cheng, J. L., & Bolon, D. S. (1993). The management of multinational r&d: A neglected topic in international business research. Journal of International Business Studies, 24(1), 1-18.
  • Cheung, K. & Lin, P. (2004). Spillover effects of fdi on innovation in China: Evidence from the provincial data, China Economic Review, 15(1), 25-44.
  • Collins, D. W., & Nguyen, N. Q. (2022). Aggregate accounting research and development expenditures and the prediction of real gross domestic product. Journal of Accounting and Public Policy, 41(1), 106901.
  • Crescenzi, R., Gagliardi, L. & Iammarino, S. (2015). Foreign multinationals and domestic innovation: Intra-industry effects and firm heterogeneity. Research Policy, 44(3), 596-609.
  • Damijan, J. P., Knell, M., Majcen, B., & Rojec, M. (2003). The role of fdi, R&D accumulation, and trade in transferring technology to transition countries: Evidence from firm panel data for eight transition countries. Economic Systems, 27(2), 189-204.
  • Görg, H. & Greenaway, D. (2001). Foreign direct investment and intra-industry spillovers: A review of the literature. GEP Research Paper, 2001/37.
  • Grossman, G. M., & Helpman, E. (1991). Trade, knowledge spillovers, and growth. European Economic Review, 35(2-3), 517-526.
  • Hanson, G.H. (2001). Should countries promote foreign direct investment? G-24 Discussion Paper Series 9.
  • Heckman, J. J. (1979). Sample selection bias as a specification error. Econometrica: Journal of The Econometric Society, 153-161.
  • Im, K. S., Pesaran, M. H., & Shin, Y. (2003). Testing for unit roots in heterogeneous panels. Journal of Econometrics, 115(1), 53–74.https://doi.org/10.1016/S0304-4076(03)00092-7
  • Krammer, S. M. (2010). International r&d spillovers in emerging markets: The impact of trade and foreign direct investment. The Journal of International Trade & Economic Development, 19(4), 591-623.
  • Kuemmerle, W. (1997). Building Effective R&D Capabilities Abroad. Harvard Business Review.
  • Landesmann, M., & Pfaffermayr, M. (1997). Technological competition and trade performance. Applied Economics, 29(2), 179-196.
  • Minović, J. & Jednak, S. (2021). The relationship between innovation, foreign direct investment and economic growth in the selected EU and EU candidate countries in finance, innovation and technology: new models and structures. Institute of Economics - Ss. Cyril & Methodius University, Skopje, pp. 96-115.
  • Minović, J., Stevanović, S., & Aleksić, V. (2021). The relationship between foreign direct investment and institutional quality in Western Balkan countries. Journal of Balkan and Near Eastern Studies, 23(1), 40-61.
  • Neubauer, J., & Odehnal, J. (2018). Ardl models of military spending and its security and economic determinants. Challenges to National Defence in Contemporary Geopolitical Situation, 1(1), 109–114. https://doi.org/10.47459/cndcgs.2018.16
  • Pearce, R. D. (1989). Internationalization of research and development by multinational enterprises. Berlin, Germany: Springer.
  • Pesaran, M. H., Shin, Y., & Smith, R. P. (1999). Pooled mean group estimation of dynamic heterogeneous panels. Journal of the American Statistical Association, 94(446), 621–634. https://doi.org/10.1080/01621459.1999.10474156
  • Pesaran, M. H. (2004). General diagnostic tests for cross section dependence in panels. IZA Discussion Paper, 1240.
  • Pesaran, M. H. (2006). Estimation and inference in large heterogeneous panels with a multifactor error structure. Econometrica, 74(4), 967–1012. https://doi.org/10.1111/j.1468-0262.2006.00692.x
  • Pesaran, M. H. (2007). A simple panel unit root test in the presence of cross-section dependence. Journal of Applied Econometrics, 22(2), 265–312.
  • Sasidharan, S., & Kathuria, V. (2011). Foreign direct investment and r&d: Substitutes or complements—a case of indian manufacturing after 1991 reforms. World Development, 39(7), 1226-1239.
  • Sweidan, O. D. (2023). Geopolitical risk and military expenditures: evidence from the US economy. Russian Journal of Economics, 9(2), 201–218. https://doi.org/10.32609/j.ruje.9.97733
  • Todo, Y. (2006). Knowledge spillovers from foreign direct investment in r&d: Evidence from Japanese firm-level data. Journal of Asian Economics, 17(6), 996-1013.
  • Wu, J., Zahoor, N., Khan, Z., & Meyer, M. (2023). The effects of inward fdi communities on the research and development intensity of emerging market locally domiciled firms: Partial foreign ownership as a contingency. Journal of Business Research, 156(1), 113487.

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

Yıl 2025, Cilt: 21 Sayı: 2, 610 - 624, 30.06.2025

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.

Kaynakça

  • Bhattacharya, M., Okafor, L. E., & Pradeep, V. (2021). International firm activities, r&d, and productivity: Evidence from Indian manufacturing firms. Economic Modelling, 97(1), 1-13.
  • Bajo-Rubio, O. Díaz-Mora, C. & Díaz-Roldán, C. (2010). Foreign direct investment and regional growth: An analysis of the spanish case. Regional Studies, 44(3), 373–382.
  • Basu, P., Chakraborty, C., & Reagle, D. (2003). Liberalization, fdi, and growth in developing countries: A panel cointegration approach. Economic Inquiry, 41(3), 510-516.
  • Baskaran, A. & Muchie, M. (2008). Foreign direct investment and internationalization of r&d: The case of BRICS economies. DIIPER Research Series, 7(1), 1-34.
  • Bayarcelik, E. B., & Taşel, F. (2012). Research and development: source of economic growth. Procedia-Social and Behavioral Sciences, 58(1), 744-753.
  • Blanco, L. R., Gu, J., & Prieger, J. E. (2016). The impact of research and development on economic growth and productivity in the US states. Southern Economic Journal, 82(3), 914-934.
  • Borensztein, E., De Gregorio, J., & Lee, J. W. (1998). How does foreign direct investment affect economic growth? Journal of International Economics, 45(1), 115-135.
  • Burlea‐Schiopoiu, A., Brostescu, S., & Popescu, L. (2023). The impact of foreign direct investment on the economic development of emerging countries of the European Union. International Journal of Finance & Economics, 28(2), 2148-2177.
  • Braconier, H., Ekholm, K. & Knarvik, K.H.M. (2001). In search of FDI-transmitted r&d spillovers: A study based on Swedish data. Review of World Economics, 137, 644-665.
  • Breusch, T. S., & Pagan, A. R. (1980). The Lagrange multiplier test and its applications to model specification in econometrics. The Review of Economic Studies, 47(1), 239–253. DOI https://doi.org/10.2307/2297111
  • Cai, H., Boateng, A., & Guney, Y. (2019). Host country institutions and firm-level r&d influences: An analysis of European Union fdi in China. Research in International Business and Finance, 47, 311-326.
  • Cheng, J. L., & Bolon, D. S. (1993). The management of multinational r&d: A neglected topic in international business research. Journal of International Business Studies, 24(1), 1-18.
  • Cheung, K. & Lin, P. (2004). Spillover effects of fdi on innovation in China: Evidence from the provincial data, China Economic Review, 15(1), 25-44.
  • Collins, D. W., & Nguyen, N. Q. (2022). Aggregate accounting research and development expenditures and the prediction of real gross domestic product. Journal of Accounting and Public Policy, 41(1), 106901.
  • Crescenzi, R., Gagliardi, L. & Iammarino, S. (2015). Foreign multinationals and domestic innovation: Intra-industry effects and firm heterogeneity. Research Policy, 44(3), 596-609.
  • Damijan, J. P., Knell, M., Majcen, B., & Rojec, M. (2003). The role of fdi, R&D accumulation, and trade in transferring technology to transition countries: Evidence from firm panel data for eight transition countries. Economic Systems, 27(2), 189-204.
  • Görg, H. & Greenaway, D. (2001). Foreign direct investment and intra-industry spillovers: A review of the literature. GEP Research Paper, 2001/37.
  • Grossman, G. M., & Helpman, E. (1991). Trade, knowledge spillovers, and growth. European Economic Review, 35(2-3), 517-526.
  • Hanson, G.H. (2001). Should countries promote foreign direct investment? G-24 Discussion Paper Series 9.
  • Heckman, J. J. (1979). Sample selection bias as a specification error. Econometrica: Journal of The Econometric Society, 153-161.
  • Im, K. S., Pesaran, M. H., & Shin, Y. (2003). Testing for unit roots in heterogeneous panels. Journal of Econometrics, 115(1), 53–74.https://doi.org/10.1016/S0304-4076(03)00092-7
  • Krammer, S. M. (2010). International r&d spillovers in emerging markets: The impact of trade and foreign direct investment. The Journal of International Trade & Economic Development, 19(4), 591-623.
  • Kuemmerle, W. (1997). Building Effective R&D Capabilities Abroad. Harvard Business Review.
  • Landesmann, M., & Pfaffermayr, M. (1997). Technological competition and trade performance. Applied Economics, 29(2), 179-196.
  • Minović, J. & Jednak, S. (2021). The relationship between innovation, foreign direct investment and economic growth in the selected EU and EU candidate countries in finance, innovation and technology: new models and structures. Institute of Economics - Ss. Cyril & Methodius University, Skopje, pp. 96-115.
  • Minović, J., Stevanović, S., & Aleksić, V. (2021). The relationship between foreign direct investment and institutional quality in Western Balkan countries. Journal of Balkan and Near Eastern Studies, 23(1), 40-61.
  • Neubauer, J., & Odehnal, J. (2018). Ardl models of military spending and its security and economic determinants. Challenges to National Defence in Contemporary Geopolitical Situation, 1(1), 109–114. https://doi.org/10.47459/cndcgs.2018.16
  • Pearce, R. D. (1989). Internationalization of research and development by multinational enterprises. Berlin, Germany: Springer.
  • Pesaran, M. H., Shin, Y., & Smith, R. P. (1999). Pooled mean group estimation of dynamic heterogeneous panels. Journal of the American Statistical Association, 94(446), 621–634. https://doi.org/10.1080/01621459.1999.10474156
  • Pesaran, M. H. (2004). General diagnostic tests for cross section dependence in panels. IZA Discussion Paper, 1240.
  • Pesaran, M. H. (2006). Estimation and inference in large heterogeneous panels with a multifactor error structure. Econometrica, 74(4), 967–1012. https://doi.org/10.1111/j.1468-0262.2006.00692.x
  • Pesaran, M. H. (2007). A simple panel unit root test in the presence of cross-section dependence. Journal of Applied Econometrics, 22(2), 265–312.
  • Sasidharan, S., & Kathuria, V. (2011). Foreign direct investment and r&d: Substitutes or complements—a case of indian manufacturing after 1991 reforms. World Development, 39(7), 1226-1239.
  • Sweidan, O. D. (2023). Geopolitical risk and military expenditures: evidence from the US economy. Russian Journal of Economics, 9(2), 201–218. https://doi.org/10.32609/j.ruje.9.97733
  • Todo, Y. (2006). Knowledge spillovers from foreign direct investment in r&d: Evidence from Japanese firm-level data. Journal of Asian Economics, 17(6), 996-1013.
  • Wu, J., Zahoor, N., Khan, Z., & Meyer, M. (2023). The effects of inward fdi communities on the research and development intensity of emerging market locally domiciled firms: Partial foreign ownership as a contingency. Journal of Business Research, 156(1), 113487.
Toplam 36 adet kaynakça vardır.

Ayrıntılar

Birincil Dil İngilizce
Konular Uluslararası İktisat (Diğer)
Bölüm Araştırma Makaleleri
Yazarlar

İbrahim Özaytürk 0000-0001-5292-6313

Erken Görünüm Tarihi 27 Haziran 2025
Yayımlanma Tarihi 30 Haziran 2025
Gönderilme Tarihi 21 Ekim 2024
Kabul Tarihi 3 Mart 2025
Yayımlandığı Sayı Yıl 2025 Cilt: 21 Sayı: 2

Kaynak Göster

APA Özaytürk, İ. (2025). INVESTIGATION OF THE IMPACT OF FOREIGN DIRECT INVESTMENT ON RESEARCH AND DEVELOPMENT SPENDING IN THE EU COUNTRIES. Uluslararası Yönetim İktisat ve İşletme Dergisi, 21(2), 610-624. https://doi.org/10.17130/ijmeb.1571133