What Drives Foreign Portfolio Investment Flows in South Africa?

Yıl 2020, Cilt: 15 Sayı: 58, 368 - 380, 30.04.2020

Nuru Giritli , Sununu Bah Ibrahim

https://doi.org/10.19168/jyasar.598067

Öz

Güney Afrika'da Yabancı Portföy Yatırım Akışına Neden Olan Faktörler Nelerdir?

Öz

Abstract: The
aim of this study is to examine the macroeconomic indicators that pull and/or push foreign portfolio investment
(FPI) inflows in South Africa. The ARDL method of co-integration and the bounds
test are employed to establish a dynamic relationship between the macroeconomic
indicators. The bounds test revealed that there is a long run relationship
between FPI and its regressors where all the push and pull variables determine the
FPI significantly. The short-run relationship between the FPI and its
regressors are also estimated alongside with the rate at which diverging
variables return to equilibrium after a short-run shock. Both pull and push
variables are significant determinants of FPI in the short-run and it returns
to the long-run equilibrium at the speed of 73 percent after a short-run shock.

Anahtar Kelimeler

Foreign portfolio investment, Push and pull factors, South Africa

Kaynakça

• Doç. Dr. Derviş Kırıkkaleli (European University of Lefke), Doç. Dr. Nezahat Küçük Doğan (International Final University), Doç. Dr. Çağay Coşkuner (Eastern Mediterranean University)