Araştırma Makalesi
BibTex RIS Kaynak Göster

Ekonomik Karmaşıklık, Doğrudan Yabancı Yatırım ve Ekonomik Özgürlük Arasındaki İlişki: Karadeniz Ekonomik İşbirliği Örgütü (KEİ) için Bir Panel ARDL Yaklaşımı

Yıl 2025, Cilt: 14 Sayı: 4, 1706 - 1717, 03.10.2025
https://doi.org/10.33206/mjss.1653340

Öz

Karadeniz Ekonomik İşbirliği Örgütü (KEİ) coğrafi olarak çok stratejik bir öneme sahiptir. Çünkü Karadeniz hem Avrupa hem de Asya arasında bir geçiş noktasıdır. KEİ bulunduğu jeopolitik konumu itibariyle enerji, ticaret hacmi, lojistik vb. birçok yönden büyük fırsatlar sunmaktadır. Bu da KEİ ülkelerinin potansiyelinin anlaşılması bağlamında önemlidir. Çalışmada KEİ üyesi olan 13 ülkede ekonomik karmaşıklık (EC), ekonomik özgürlük (EF) ve doğrudan yabancı yatırım (FDI) ilişkisi araştırılmıştır. 1998-2022 yıllarını kapsayan bu çalışmada uzun dönemli ilişkinin varlığı Panel ARDL yönteminde sıkça kullanılan PMG tahmincisi yoluyla analiz edilmiştir. Sonuçlar hem kısa hem de uzun dönemde EC ve EF’nin FDI’yı artırdığını ortaya koymaktadır. Hata düzeltme modeli sonucunda KEİ üyesi 10 ülkede anlamlı ve pozitif bir ilişki bulunmuştur. 3 ülkede ise hata düzeltme modeli anlamsızdır.

Kaynakça

  • Ajide, F. M., Osinubi, T. T., Oladipupo, S. A., & Soyode, E. O. (2025). Economic complexity in Africa: the role of Chinese FDI and trade. Journal of Chinese Economic and Foreign Trade Studies, 18(1), 86-108.
  • Alidemaj, A. H., Krivins, A., Durguti, E., & McArdle, J. (2025). Economic Freedom Index and Foreign Direct Investment: Bridging the Gap between Developed and Emerging Economies. Central European Business Review, 14(5), 1-22.
  • Ateş, M. M., & Arslan, C. K. (2025). Ekonomik Kompleksitenin Doğrudan Yabancı Yatırım Üzerine Etkileri: Çok Boyutlu Panel Veri Analizi. Uluslararası İktisadi ve İdari Çalışmalar Dergisi, 3(1), 87-97.
  • Aydin, M., Guney, E., Yigit, B., Acikgoz, F., & Cakmak, B. Y. (2024). Regulatory pathways to green energy transition for sustainable environment: The fostering role of human rights, banking sector development, economic complexity, and economic freedom. Journal of Environmental Management, 366(121739), 1-12.
  • Balassa, B. (1965). Trade Liberalisation and "Revealed" Comparative Advantage. The Manchester School of Economic and Social Studies, 99-123.
  • Ben-Salha, O., Dachraoui, H., & Sebri, M. (2021). Natural resource rents and economic growth in the top resource-abundant countries: A PMG estimation. Resources Policy, 74(101229), 1-8.
  • Black Sea Economic Cooperation. (2025, 02 17). https://www.bsec-organization.org/bsec-at-glance adresinden alındı
  • 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.
  • Christoforidis, T., & Katrakilidis, C. (2025). Assessing the Impacts of Economic Complexity and Economic Freedom on the Energy Induced Environmental Performance: New Evidence from a Panel of EU Countries. Journal of the Knowledge Economy, 16(1), 1-36.
  • Ciftci, C., & Durusu-Ciftci, D. (2022). Economic freedom, foreign direct investment, and economic growth: The role of sub-components of freedom. The Journal of International Trade & Economic Development, 31(2), 233- 254.
  • Çoban, S., & Küsmez, T. (2021). Doğrudan Yabancı Yatırımlar ve Ekonomik Özgürlük Arasındaki Nedensellik İlişkisinin Analizi: OECD Ülkeleri Üzerine Bir Uygulama. International Journal of Entrepreneurship and Management Inquiries, 5(8), 135-156.
  • Doru, Ö. (2022). Türkiye’de Ekonomik Karmaşıklık İndeksi (ECI) ve Doğrudan Yabancı Yatırım İlişkisi. Artuklu Kaime Uluslararası İktisadi ve İdari Araştırmalar Dergisi, 5(2), 235-251.
  • Ghazalian, P. L., & Amponsem, F. (2019). The effects of economic freedom on FDI inflows: an empirical analysis. Applied Economics, 51(11), 1111-1132.
  • Hausman, J. (1978). Specification Tests in Econometrics. Econometrica, 46(6), 1251-1271.
  • Hausmann, R., & Hidalgo, C. A. (2014). The Atlas of Economic Complexity: Mapping Paths to Prosperity. MIT Press.
  • Hidalgo, C. A. (2023). The policy implications of economic complexity. Research Policy, 52(104863), 1-17.
  • Hidalgo, C. A., & Hausmann, R. (2009). The building blocks of economic complexity. PNAS Journal, 106(26), 10570-10575.
  • Hidalgo, C. A., & Hausmann, R. (2009). The building blocks of economic complexity. PNAS Journal, 106(26), 10570-10575.
  • Hidalgo, C. A., & Stojkoski, V. (2025). The Theory of Economic Complexity. TSE Working Papers, 1648, 1-49.
  • Kılcı, E., & Akıncı, A. (2020). Türkiye’de Ekonomik Özgürlük Düzeyinin Ekonomik Büyüme ve Doğrudan Yatırımlar Üzerindeki Etkisinin Araştırılmasına Yönelik Bir Analiz. Anadolu Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 21(2), 47-59.
  • Kasap, A. (2025). The Impact of Economic Freedom on Macroeconomic Indicators: The Case of the New Fragile Five. Üçüncü Sektör Sosyal Ekonomi Dergisi, 60(1), 333-346.
  • Khaliq, A., & Mamkhezri, J. (2023). Asymmetrical analysis of economic complexity and economic freedom on environment in South Asia: A NARDL approach. Environmental Science and Pollution Research, 30, 89049– 89070.
  • Khan, H., Khan, U., & Khan, M. A. (2020). Causal Nexus between Economic Complexity and FDI: Empirical Evidence from Time Series Analysis. The Chinese Economy, 53(5), 374-394.
  • Kouam, J. M., Ndeffo, L. N., & Pouatcha, M. A. (2023). The long and short run effects of foreign direct investment on economic complexity in Sub-Saharan African countries. Economics Bulletin, 43(3), 1421-1433.
  • Mensah, I. A., Sun, M., Gao, C., Omari-Sasu, A. Y., Zhu, D., Ampimah, B. C., & Quarcoo, A. (2019). Analysis on the nexus of economic growth, fossil fuel energy consumption, CO2 emissions and oil price in Africa based on a PMG panel ARDL approach. Journal of Cleaner Production, 228, 161-174.
  • Mitsi, D. (2023). Economic Freedom, Fiscal Rules on FDI Inflows: An Analysis of 24 Developing Countries. International Journal of Economics and Finance, 15(12), 106-117.
  • Muslija, A. (2018). Foreign Direct Investments and Economic Freedom in OECD Countries. International Journal of Economic Studies, 4(4), 51-59.
  • Nguéda, R. D., & Kelly, A. M. (2022). The Nexus between Economic Complexity and Foreign Direct Investment in Sub-Saharan Africa. South Asian Journal of Social Studies and Economics, 14(2), 41-52.
  • OEC. (2025, 07 04). https://oec.world/en/rankings/eci/hs6/hs96?tab=ranking adresinden alındı
  • Ovenseri-Ogbomo, F. O., & Obasuyi, M. O. (2022). Impact of Economic Complexity on Foreign Direct Investment (FDI): Evidence from The Nesk Economies. Ye-Numu Journal of Economic and Development Issues, 5(1), 85-107.
  • Özcan, M., & Akar, G. (2020). E7 Ülkelerinde Ekonomik Özgürlük ve Doğrudan Yabancı Sermaye Yatırımları: Panel Veri Analizi. Adıyaman Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 13(36), 542-569.
  • Öztürk, F., & Topçu, Y. E. (2024). The Effect of Economic Freedom on Export Sophistication in OECD Countries. Fiscaoeconomia, 8(1), 126-148.
  • Pesaran, M. H. (2007). A simple panel unit root test in the presence of cross-section dependence. Journal of Applied Econometrics, 27, 265-312.
  • Pesaran, M. H., Shin, Y., & Smith, R. P. (1999). Pooled Mean Group Estimation of Dynamic Heterogeneous Panels. Journal of the American Statistical Association, 94, 621-634.
  • Rafique, M., Ahmad, A., & Ilyas, M. (2023). Investigating the Impact of Economic Freedom on Foreign Direct Investment in Pakistan. Journal of Development and Social Sciences, 4(2), 756-767.
  • Ratih, A., Murwiati, A., Nirmala, T., & Emalia, Z. (2023). Economic Freedom and Complexity in Low-Middle Income Countries. 6th International Conference of Economics, Business, and Entrepreneurship,, (s. 1-6). Bandar Lampung, Indonesia.
  • Sallam, M. A. (2025). Determinants of Economic Complexity: Evidence from BRICS countries, Egypt and Turkey using Panel ARDL Approach. Montenegrin Journal of Economics, 21(2), 107-121.
  • Saqib, N., & Dinca, G. (2024). Exploring the asymmetric impact of economic complexity, FDI, and green technology on carbon emissions: Policy stringency for clean-energy investing countries. Geoscience Frontiers, 15(101671), 1-15.
  • Şit, M. (2023). Ekonomik Özgürlük Endeksinin Doğrudan Yabancı Yatırımlara Etkisi: MINT Ülkeleri Örneği. Politik Ekonomik Kuram, 7(2), 427-439.
  • Tag, M. N., & Degirmen, S. (2022). Economic freedom and foreign direct investment:Are they related? Economic Analysis and Policy, 73, 737-752.
  • Tatoğlu, F. Y. (2018). Panel Zaman Serileri Analizi Stata Uygulamalı . İstanbul: Beta Yayıncılık.
  • The Heritage Foundation. (2025, 07 04). https://www.heritage.org/index/pages/about#indexMethodology adresinden alındı
  • Zghidi, N., Sghaier, I. M., & Abida, Z. (2016). Does Economic Freedom Enhance the Impact of Foreign Direct Investment on Economic Growth in North African Countries? A Panel Data Analysis. African Development Review, 28(1), 64-74.

Yıl 2025, Cilt: 14 Sayı: 4, 1706 - 1717, 03.10.2025
https://doi.org/10.33206/mjss.1653340

Öz

Kaynakça

  • Ajide, F. M., Osinubi, T. T., Oladipupo, S. A., & Soyode, E. O. (2025). Economic complexity in Africa: the role of Chinese FDI and trade. Journal of Chinese Economic and Foreign Trade Studies, 18(1), 86-108.
  • Alidemaj, A. H., Krivins, A., Durguti, E., & McArdle, J. (2025). Economic Freedom Index and Foreign Direct Investment: Bridging the Gap between Developed and Emerging Economies. Central European Business Review, 14(5), 1-22.
  • Ateş, M. M., & Arslan, C. K. (2025). Ekonomik Kompleksitenin Doğrudan Yabancı Yatırım Üzerine Etkileri: Çok Boyutlu Panel Veri Analizi. Uluslararası İktisadi ve İdari Çalışmalar Dergisi, 3(1), 87-97.
  • Aydin, M., Guney, E., Yigit, B., Acikgoz, F., & Cakmak, B. Y. (2024). Regulatory pathways to green energy transition for sustainable environment: The fostering role of human rights, banking sector development, economic complexity, and economic freedom. Journal of Environmental Management, 366(121739), 1-12.
  • Balassa, B. (1965). Trade Liberalisation and "Revealed" Comparative Advantage. The Manchester School of Economic and Social Studies, 99-123.
  • Ben-Salha, O., Dachraoui, H., & Sebri, M. (2021). Natural resource rents and economic growth in the top resource-abundant countries: A PMG estimation. Resources Policy, 74(101229), 1-8.
  • Black Sea Economic Cooperation. (2025, 02 17). https://www.bsec-organization.org/bsec-at-glance adresinden alındı
  • 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.
  • Christoforidis, T., & Katrakilidis, C. (2025). Assessing the Impacts of Economic Complexity and Economic Freedom on the Energy Induced Environmental Performance: New Evidence from a Panel of EU Countries. Journal of the Knowledge Economy, 16(1), 1-36.
  • Ciftci, C., & Durusu-Ciftci, D. (2022). Economic freedom, foreign direct investment, and economic growth: The role of sub-components of freedom. The Journal of International Trade & Economic Development, 31(2), 233- 254.
  • Çoban, S., & Küsmez, T. (2021). Doğrudan Yabancı Yatırımlar ve Ekonomik Özgürlük Arasındaki Nedensellik İlişkisinin Analizi: OECD Ülkeleri Üzerine Bir Uygulama. International Journal of Entrepreneurship and Management Inquiries, 5(8), 135-156.
  • Doru, Ö. (2022). Türkiye’de Ekonomik Karmaşıklık İndeksi (ECI) ve Doğrudan Yabancı Yatırım İlişkisi. Artuklu Kaime Uluslararası İktisadi ve İdari Araştırmalar Dergisi, 5(2), 235-251.
  • Ghazalian, P. L., & Amponsem, F. (2019). The effects of economic freedom on FDI inflows: an empirical analysis. Applied Economics, 51(11), 1111-1132.
  • Hausman, J. (1978). Specification Tests in Econometrics. Econometrica, 46(6), 1251-1271.
  • Hausmann, R., & Hidalgo, C. A. (2014). The Atlas of Economic Complexity: Mapping Paths to Prosperity. MIT Press.
  • Hidalgo, C. A. (2023). The policy implications of economic complexity. Research Policy, 52(104863), 1-17.
  • Hidalgo, C. A., & Hausmann, R. (2009). The building blocks of economic complexity. PNAS Journal, 106(26), 10570-10575.
  • Hidalgo, C. A., & Hausmann, R. (2009). The building blocks of economic complexity. PNAS Journal, 106(26), 10570-10575.
  • Hidalgo, C. A., & Stojkoski, V. (2025). The Theory of Economic Complexity. TSE Working Papers, 1648, 1-49.
  • Kılcı, E., & Akıncı, A. (2020). Türkiye’de Ekonomik Özgürlük Düzeyinin Ekonomik Büyüme ve Doğrudan Yatırımlar Üzerindeki Etkisinin Araştırılmasına Yönelik Bir Analiz. Anadolu Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 21(2), 47-59.
  • Kasap, A. (2025). The Impact of Economic Freedom on Macroeconomic Indicators: The Case of the New Fragile Five. Üçüncü Sektör Sosyal Ekonomi Dergisi, 60(1), 333-346.
  • Khaliq, A., & Mamkhezri, J. (2023). Asymmetrical analysis of economic complexity and economic freedom on environment in South Asia: A NARDL approach. Environmental Science and Pollution Research, 30, 89049– 89070.
  • Khan, H., Khan, U., & Khan, M. A. (2020). Causal Nexus between Economic Complexity and FDI: Empirical Evidence from Time Series Analysis. The Chinese Economy, 53(5), 374-394.
  • Kouam, J. M., Ndeffo, L. N., & Pouatcha, M. A. (2023). The long and short run effects of foreign direct investment on economic complexity in Sub-Saharan African countries. Economics Bulletin, 43(3), 1421-1433.
  • Mensah, I. A., Sun, M., Gao, C., Omari-Sasu, A. Y., Zhu, D., Ampimah, B. C., & Quarcoo, A. (2019). Analysis on the nexus of economic growth, fossil fuel energy consumption, CO2 emissions and oil price in Africa based on a PMG panel ARDL approach. Journal of Cleaner Production, 228, 161-174.
  • Mitsi, D. (2023). Economic Freedom, Fiscal Rules on FDI Inflows: An Analysis of 24 Developing Countries. International Journal of Economics and Finance, 15(12), 106-117.
  • Muslija, A. (2018). Foreign Direct Investments and Economic Freedom in OECD Countries. International Journal of Economic Studies, 4(4), 51-59.
  • Nguéda, R. D., & Kelly, A. M. (2022). The Nexus between Economic Complexity and Foreign Direct Investment in Sub-Saharan Africa. South Asian Journal of Social Studies and Economics, 14(2), 41-52.
  • OEC. (2025, 07 04). https://oec.world/en/rankings/eci/hs6/hs96?tab=ranking adresinden alındı
  • Ovenseri-Ogbomo, F. O., & Obasuyi, M. O. (2022). Impact of Economic Complexity on Foreign Direct Investment (FDI): Evidence from The Nesk Economies. Ye-Numu Journal of Economic and Development Issues, 5(1), 85-107.
  • Özcan, M., & Akar, G. (2020). E7 Ülkelerinde Ekonomik Özgürlük ve Doğrudan Yabancı Sermaye Yatırımları: Panel Veri Analizi. Adıyaman Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 13(36), 542-569.
  • Öztürk, F., & Topçu, Y. E. (2024). The Effect of Economic Freedom on Export Sophistication in OECD Countries. Fiscaoeconomia, 8(1), 126-148.
  • Pesaran, M. H. (2007). A simple panel unit root test in the presence of cross-section dependence. Journal of Applied Econometrics, 27, 265-312.
  • Pesaran, M. H., Shin, Y., & Smith, R. P. (1999). Pooled Mean Group Estimation of Dynamic Heterogeneous Panels. Journal of the American Statistical Association, 94, 621-634.
  • Rafique, M., Ahmad, A., & Ilyas, M. (2023). Investigating the Impact of Economic Freedom on Foreign Direct Investment in Pakistan. Journal of Development and Social Sciences, 4(2), 756-767.
  • Ratih, A., Murwiati, A., Nirmala, T., & Emalia, Z. (2023). Economic Freedom and Complexity in Low-Middle Income Countries. 6th International Conference of Economics, Business, and Entrepreneurship,, (s. 1-6). Bandar Lampung, Indonesia.
  • Sallam, M. A. (2025). Determinants of Economic Complexity: Evidence from BRICS countries, Egypt and Turkey using Panel ARDL Approach. Montenegrin Journal of Economics, 21(2), 107-121.
  • Saqib, N., & Dinca, G. (2024). Exploring the asymmetric impact of economic complexity, FDI, and green technology on carbon emissions: Policy stringency for clean-energy investing countries. Geoscience Frontiers, 15(101671), 1-15.
  • Şit, M. (2023). Ekonomik Özgürlük Endeksinin Doğrudan Yabancı Yatırımlara Etkisi: MINT Ülkeleri Örneği. Politik Ekonomik Kuram, 7(2), 427-439.
  • Tag, M. N., & Degirmen, S. (2022). Economic freedom and foreign direct investment:Are they related? Economic Analysis and Policy, 73, 737-752.
  • Tatoğlu, F. Y. (2018). Panel Zaman Serileri Analizi Stata Uygulamalı . İstanbul: Beta Yayıncılık.
  • The Heritage Foundation. (2025, 07 04). https://www.heritage.org/index/pages/about#indexMethodology adresinden alındı
  • Zghidi, N., Sghaier, I. M., & Abida, Z. (2016). Does Economic Freedom Enhance the Impact of Foreign Direct Investment on Economic Growth in North African Countries? A Panel Data Analysis. African Development Review, 28(1), 64-74.

Yıl 2025, Cilt: 14 Sayı: 4, 1706 - 1717, 03.10.2025
https://doi.org/10.33206/mjss.1653340

Öz

Kaynakça

  • Ajide, F. M., Osinubi, T. T., Oladipupo, S. A., & Soyode, E. O. (2025). Economic complexity in Africa: the role of Chinese FDI and trade. Journal of Chinese Economic and Foreign Trade Studies, 18(1), 86-108.
  • Alidemaj, A. H., Krivins, A., Durguti, E., & McArdle, J. (2025). Economic Freedom Index and Foreign Direct Investment: Bridging the Gap between Developed and Emerging Economies. Central European Business Review, 14(5), 1-22.
  • Ateş, M. M., & Arslan, C. K. (2025). Ekonomik Kompleksitenin Doğrudan Yabancı Yatırım Üzerine Etkileri: Çok Boyutlu Panel Veri Analizi. Uluslararası İktisadi ve İdari Çalışmalar Dergisi, 3(1), 87-97.
  • Aydin, M., Guney, E., Yigit, B., Acikgoz, F., & Cakmak, B. Y. (2024). Regulatory pathways to green energy transition for sustainable environment: The fostering role of human rights, banking sector development, economic complexity, and economic freedom. Journal of Environmental Management, 366(121739), 1-12.
  • Balassa, B. (1965). Trade Liberalisation and "Revealed" Comparative Advantage. The Manchester School of Economic and Social Studies, 99-123.
  • Ben-Salha, O., Dachraoui, H., & Sebri, M. (2021). Natural resource rents and economic growth in the top resource-abundant countries: A PMG estimation. Resources Policy, 74(101229), 1-8.
  • Black Sea Economic Cooperation. (2025, 02 17). https://www.bsec-organization.org/bsec-at-glance adresinden alındı
  • 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.
  • Christoforidis, T., & Katrakilidis, C. (2025). Assessing the Impacts of Economic Complexity and Economic Freedom on the Energy Induced Environmental Performance: New Evidence from a Panel of EU Countries. Journal of the Knowledge Economy, 16(1), 1-36.
  • Ciftci, C., & Durusu-Ciftci, D. (2022). Economic freedom, foreign direct investment, and economic growth: The role of sub-components of freedom. The Journal of International Trade & Economic Development, 31(2), 233- 254.
  • Çoban, S., & Küsmez, T. (2021). Doğrudan Yabancı Yatırımlar ve Ekonomik Özgürlük Arasındaki Nedensellik İlişkisinin Analizi: OECD Ülkeleri Üzerine Bir Uygulama. International Journal of Entrepreneurship and Management Inquiries, 5(8), 135-156.
  • Doru, Ö. (2022). Türkiye’de Ekonomik Karmaşıklık İndeksi (ECI) ve Doğrudan Yabancı Yatırım İlişkisi. Artuklu Kaime Uluslararası İktisadi ve İdari Araştırmalar Dergisi, 5(2), 235-251.
  • Ghazalian, P. L., & Amponsem, F. (2019). The effects of economic freedom on FDI inflows: an empirical analysis. Applied Economics, 51(11), 1111-1132.
  • Hausman, J. (1978). Specification Tests in Econometrics. Econometrica, 46(6), 1251-1271.
  • Hausmann, R., & Hidalgo, C. A. (2014). The Atlas of Economic Complexity: Mapping Paths to Prosperity. MIT Press.
  • Hidalgo, C. A. (2023). The policy implications of economic complexity. Research Policy, 52(104863), 1-17.
  • Hidalgo, C. A., & Hausmann, R. (2009). The building blocks of economic complexity. PNAS Journal, 106(26), 10570-10575.
  • Hidalgo, C. A., & Hausmann, R. (2009). The building blocks of economic complexity. PNAS Journal, 106(26), 10570-10575.
  • Hidalgo, C. A., & Stojkoski, V. (2025). The Theory of Economic Complexity. TSE Working Papers, 1648, 1-49.
  • Kılcı, E., & Akıncı, A. (2020). Türkiye’de Ekonomik Özgürlük Düzeyinin Ekonomik Büyüme ve Doğrudan Yatırımlar Üzerindeki Etkisinin Araştırılmasına Yönelik Bir Analiz. Anadolu Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 21(2), 47-59.
  • Kasap, A. (2025). The Impact of Economic Freedom on Macroeconomic Indicators: The Case of the New Fragile Five. Üçüncü Sektör Sosyal Ekonomi Dergisi, 60(1), 333-346.
  • Khaliq, A., & Mamkhezri, J. (2023). Asymmetrical analysis of economic complexity and economic freedom on environment in South Asia: A NARDL approach. Environmental Science and Pollution Research, 30, 89049– 89070.
  • Khan, H., Khan, U., & Khan, M. A. (2020). Causal Nexus between Economic Complexity and FDI: Empirical Evidence from Time Series Analysis. The Chinese Economy, 53(5), 374-394.
  • Kouam, J. M., Ndeffo, L. N., & Pouatcha, M. A. (2023). The long and short run effects of foreign direct investment on economic complexity in Sub-Saharan African countries. Economics Bulletin, 43(3), 1421-1433.
  • Mensah, I. A., Sun, M., Gao, C., Omari-Sasu, A. Y., Zhu, D., Ampimah, B. C., & Quarcoo, A. (2019). Analysis on the nexus of economic growth, fossil fuel energy consumption, CO2 emissions and oil price in Africa based on a PMG panel ARDL approach. Journal of Cleaner Production, 228, 161-174.
  • Mitsi, D. (2023). Economic Freedom, Fiscal Rules on FDI Inflows: An Analysis of 24 Developing Countries. International Journal of Economics and Finance, 15(12), 106-117.
  • Muslija, A. (2018). Foreign Direct Investments and Economic Freedom in OECD Countries. International Journal of Economic Studies, 4(4), 51-59.
  • Nguéda, R. D., & Kelly, A. M. (2022). The Nexus between Economic Complexity and Foreign Direct Investment in Sub-Saharan Africa. South Asian Journal of Social Studies and Economics, 14(2), 41-52.
  • OEC. (2025, 07 04). https://oec.world/en/rankings/eci/hs6/hs96?tab=ranking adresinden alındı
  • Ovenseri-Ogbomo, F. O., & Obasuyi, M. O. (2022). Impact of Economic Complexity on Foreign Direct Investment (FDI): Evidence from The Nesk Economies. Ye-Numu Journal of Economic and Development Issues, 5(1), 85-107.
  • Özcan, M., & Akar, G. (2020). E7 Ülkelerinde Ekonomik Özgürlük ve Doğrudan Yabancı Sermaye Yatırımları: Panel Veri Analizi. Adıyaman Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 13(36), 542-569.
  • Öztürk, F., & Topçu, Y. E. (2024). The Effect of Economic Freedom on Export Sophistication in OECD Countries. Fiscaoeconomia, 8(1), 126-148.
  • Pesaran, M. H. (2007). A simple panel unit root test in the presence of cross-section dependence. Journal of Applied Econometrics, 27, 265-312.
  • Pesaran, M. H., Shin, Y., & Smith, R. P. (1999). Pooled Mean Group Estimation of Dynamic Heterogeneous Panels. Journal of the American Statistical Association, 94, 621-634.
  • Rafique, M., Ahmad, A., & Ilyas, M. (2023). Investigating the Impact of Economic Freedom on Foreign Direct Investment in Pakistan. Journal of Development and Social Sciences, 4(2), 756-767.
  • Ratih, A., Murwiati, A., Nirmala, T., & Emalia, Z. (2023). Economic Freedom and Complexity in Low-Middle Income Countries. 6th International Conference of Economics, Business, and Entrepreneurship,, (s. 1-6). Bandar Lampung, Indonesia.
  • Sallam, M. A. (2025). Determinants of Economic Complexity: Evidence from BRICS countries, Egypt and Turkey using Panel ARDL Approach. Montenegrin Journal of Economics, 21(2), 107-121.
  • Saqib, N., & Dinca, G. (2024). Exploring the asymmetric impact of economic complexity, FDI, and green technology on carbon emissions: Policy stringency for clean-energy investing countries. Geoscience Frontiers, 15(101671), 1-15.
  • Şit, M. (2023). Ekonomik Özgürlük Endeksinin Doğrudan Yabancı Yatırımlara Etkisi: MINT Ülkeleri Örneği. Politik Ekonomik Kuram, 7(2), 427-439.
  • Tag, M. N., & Degirmen, S. (2022). Economic freedom and foreign direct investment:Are they related? Economic Analysis and Policy, 73, 737-752.
  • Tatoğlu, F. Y. (2018). Panel Zaman Serileri Analizi Stata Uygulamalı . İstanbul: Beta Yayıncılık.
  • The Heritage Foundation. (2025, 07 04). https://www.heritage.org/index/pages/about#indexMethodology adresinden alındı
  • Zghidi, N., Sghaier, I. M., & Abida, Z. (2016). Does Economic Freedom Enhance the Impact of Foreign Direct Investment on Economic Growth in North African Countries? A Panel Data Analysis. African Development Review, 28(1), 64-74.

The Connection Between Economic Complexity, Foreign Direct Investment and Economic Freedom: A Panel ARDL Approach for The Black Sea Economic Cooperation Organization (BSEC)

Yıl 2025, Cilt: 14 Sayı: 4, 1706 - 1717, 03.10.2025
https://doi.org/10.33206/mjss.1653340

Öz

Geographically, the Black Sea Economic Cooperation Organization (BSEC) is of great strategic importance. Because the Black Sea is a crossing point between both Europe and Asia. Due to its geopolitical location, BSEC offers great opportunities in many aspects such as energy, trade volume, logistics, etc. This is important understanding the potential of BSEC countries. In the study, the connection between economic complexity (EC), foreign direct investment (FDI) and economic freedom (EF) and in 13 BSEC member countries was investigated. In this study, which covers the years 1998-2022, the existence of the long-run connection was analyzed through the PMG estimator, which is frequently used in the Panel ARDL method. The results reveal that EC and EF increase FDI in both short and long run. Accordingly results of error correction model, positive and significant connection was found in 10 BSEC member countries. In 3 countries, the error correction model is insignificant.

Etik Beyan

“Ekonomik Karmaşıklık, Doğrudan Yabancı Yatırım ve Ekonomik Özgürlük Arasındaki İlişki: Karadeniz Ekonomik İşbirliği Örgütü (KEİ) için Bir Panel ARDL Yaklaşımı” başlıklı çalışmanın yazım sürecinde bilimsel kurallara, etik ve alıntı kurallarına uyulmuş; toplanan veriler üzerinde herhangi bir tahrifat yapılmamış ve bu çalışma herhangi başka bir akademik yayın ortamına değerlendirme için gönderilmemiştir.

Kaynakça

  • Ajide, F. M., Osinubi, T. T., Oladipupo, S. A., & Soyode, E. O. (2025). Economic complexity in Africa: the role of Chinese FDI and trade. Journal of Chinese Economic and Foreign Trade Studies, 18(1), 86-108.
  • Alidemaj, A. H., Krivins, A., Durguti, E., & McArdle, J. (2025). Economic Freedom Index and Foreign Direct Investment: Bridging the Gap between Developed and Emerging Economies. Central European Business Review, 14(5), 1-22.
  • Ateş, M. M., & Arslan, C. K. (2025). Ekonomik Kompleksitenin Doğrudan Yabancı Yatırım Üzerine Etkileri: Çok Boyutlu Panel Veri Analizi. Uluslararası İktisadi ve İdari Çalışmalar Dergisi, 3(1), 87-97.
  • Aydin, M., Guney, E., Yigit, B., Acikgoz, F., & Cakmak, B. Y. (2024). Regulatory pathways to green energy transition for sustainable environment: The fostering role of human rights, banking sector development, economic complexity, and economic freedom. Journal of Environmental Management, 366(121739), 1-12.
  • Balassa, B. (1965). Trade Liberalisation and "Revealed" Comparative Advantage. The Manchester School of Economic and Social Studies, 99-123.
  • Ben-Salha, O., Dachraoui, H., & Sebri, M. (2021). Natural resource rents and economic growth in the top resource-abundant countries: A PMG estimation. Resources Policy, 74(101229), 1-8.
  • Black Sea Economic Cooperation. (2025, 02 17). https://www.bsec-organization.org/bsec-at-glance adresinden alındı
  • 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.
  • Christoforidis, T., & Katrakilidis, C. (2025). Assessing the Impacts of Economic Complexity and Economic Freedom on the Energy Induced Environmental Performance: New Evidence from a Panel of EU Countries. Journal of the Knowledge Economy, 16(1), 1-36.
  • Ciftci, C., & Durusu-Ciftci, D. (2022). Economic freedom, foreign direct investment, and economic growth: The role of sub-components of freedom. The Journal of International Trade & Economic Development, 31(2), 233- 254.
  • Çoban, S., & Küsmez, T. (2021). Doğrudan Yabancı Yatırımlar ve Ekonomik Özgürlük Arasındaki Nedensellik İlişkisinin Analizi: OECD Ülkeleri Üzerine Bir Uygulama. International Journal of Entrepreneurship and Management Inquiries, 5(8), 135-156.
  • Doru, Ö. (2022). Türkiye’de Ekonomik Karmaşıklık İndeksi (ECI) ve Doğrudan Yabancı Yatırım İlişkisi. Artuklu Kaime Uluslararası İktisadi ve İdari Araştırmalar Dergisi, 5(2), 235-251.
  • Ghazalian, P. L., & Amponsem, F. (2019). The effects of economic freedom on FDI inflows: an empirical analysis. Applied Economics, 51(11), 1111-1132.
  • Hausman, J. (1978). Specification Tests in Econometrics. Econometrica, 46(6), 1251-1271.
  • Hausmann, R., & Hidalgo, C. A. (2014). The Atlas of Economic Complexity: Mapping Paths to Prosperity. MIT Press.
  • Hidalgo, C. A. (2023). The policy implications of economic complexity. Research Policy, 52(104863), 1-17.
  • Hidalgo, C. A., & Hausmann, R. (2009). The building blocks of economic complexity. PNAS Journal, 106(26), 10570-10575.
  • Hidalgo, C. A., & Hausmann, R. (2009). The building blocks of economic complexity. PNAS Journal, 106(26), 10570-10575.
  • Hidalgo, C. A., & Stojkoski, V. (2025). The Theory of Economic Complexity. TSE Working Papers, 1648, 1-49.
  • Kılcı, E., & Akıncı, A. (2020). Türkiye’de Ekonomik Özgürlük Düzeyinin Ekonomik Büyüme ve Doğrudan Yatırımlar Üzerindeki Etkisinin Araştırılmasına Yönelik Bir Analiz. Anadolu Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 21(2), 47-59.
  • Kasap, A. (2025). The Impact of Economic Freedom on Macroeconomic Indicators: The Case of the New Fragile Five. Üçüncü Sektör Sosyal Ekonomi Dergisi, 60(1), 333-346.
  • Khaliq, A., & Mamkhezri, J. (2023). Asymmetrical analysis of economic complexity and economic freedom on environment in South Asia: A NARDL approach. Environmental Science and Pollution Research, 30, 89049– 89070.
  • Khan, H., Khan, U., & Khan, M. A. (2020). Causal Nexus between Economic Complexity and FDI: Empirical Evidence from Time Series Analysis. The Chinese Economy, 53(5), 374-394.
  • Kouam, J. M., Ndeffo, L. N., & Pouatcha, M. A. (2023). The long and short run effects of foreign direct investment on economic complexity in Sub-Saharan African countries. Economics Bulletin, 43(3), 1421-1433.
  • Mensah, I. A., Sun, M., Gao, C., Omari-Sasu, A. Y., Zhu, D., Ampimah, B. C., & Quarcoo, A. (2019). Analysis on the nexus of economic growth, fossil fuel energy consumption, CO2 emissions and oil price in Africa based on a PMG panel ARDL approach. Journal of Cleaner Production, 228, 161-174.
  • Mitsi, D. (2023). Economic Freedom, Fiscal Rules on FDI Inflows: An Analysis of 24 Developing Countries. International Journal of Economics and Finance, 15(12), 106-117.
  • Muslija, A. (2018). Foreign Direct Investments and Economic Freedom in OECD Countries. International Journal of Economic Studies, 4(4), 51-59.
  • Nguéda, R. D., & Kelly, A. M. (2022). The Nexus between Economic Complexity and Foreign Direct Investment in Sub-Saharan Africa. South Asian Journal of Social Studies and Economics, 14(2), 41-52.
  • OEC. (2025, 07 04). https://oec.world/en/rankings/eci/hs6/hs96?tab=ranking adresinden alındı
  • Ovenseri-Ogbomo, F. O., & Obasuyi, M. O. (2022). Impact of Economic Complexity on Foreign Direct Investment (FDI): Evidence from The Nesk Economies. Ye-Numu Journal of Economic and Development Issues, 5(1), 85-107.
  • Özcan, M., & Akar, G. (2020). E7 Ülkelerinde Ekonomik Özgürlük ve Doğrudan Yabancı Sermaye Yatırımları: Panel Veri Analizi. Adıyaman Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 13(36), 542-569.
  • Öztürk, F., & Topçu, Y. E. (2024). The Effect of Economic Freedom on Export Sophistication in OECD Countries. Fiscaoeconomia, 8(1), 126-148.
  • Pesaran, M. H. (2007). A simple panel unit root test in the presence of cross-section dependence. Journal of Applied Econometrics, 27, 265-312.
  • Pesaran, M. H., Shin, Y., & Smith, R. P. (1999). Pooled Mean Group Estimation of Dynamic Heterogeneous Panels. Journal of the American Statistical Association, 94, 621-634.
  • Rafique, M., Ahmad, A., & Ilyas, M. (2023). Investigating the Impact of Economic Freedom on Foreign Direct Investment in Pakistan. Journal of Development and Social Sciences, 4(2), 756-767.
  • Ratih, A., Murwiati, A., Nirmala, T., & Emalia, Z. (2023). Economic Freedom and Complexity in Low-Middle Income Countries. 6th International Conference of Economics, Business, and Entrepreneurship,, (s. 1-6). Bandar Lampung, Indonesia.
  • Sallam, M. A. (2025). Determinants of Economic Complexity: Evidence from BRICS countries, Egypt and Turkey using Panel ARDL Approach. Montenegrin Journal of Economics, 21(2), 107-121.
  • Saqib, N., & Dinca, G. (2024). Exploring the asymmetric impact of economic complexity, FDI, and green technology on carbon emissions: Policy stringency for clean-energy investing countries. Geoscience Frontiers, 15(101671), 1-15.
  • Şit, M. (2023). Ekonomik Özgürlük Endeksinin Doğrudan Yabancı Yatırımlara Etkisi: MINT Ülkeleri Örneği. Politik Ekonomik Kuram, 7(2), 427-439.
  • Tag, M. N., & Degirmen, S. (2022). Economic freedom and foreign direct investment:Are they related? Economic Analysis and Policy, 73, 737-752.
  • Tatoğlu, F. Y. (2018). Panel Zaman Serileri Analizi Stata Uygulamalı . İstanbul: Beta Yayıncılık.
  • The Heritage Foundation. (2025, 07 04). https://www.heritage.org/index/pages/about#indexMethodology adresinden alındı
  • Zghidi, N., Sghaier, I. M., & Abida, Z. (2016). Does Economic Freedom Enhance the Impact of Foreign Direct Investment on Economic Growth in North African Countries? A Panel Data Analysis. African Development Review, 28(1), 64-74.
Toplam 43 adet kaynakça vardır.

Ayrıntılar

Birincil Dil İngilizce
Konular Uluslararası İktisadi Kuruluşlar
Bölüm Araştırma Makalesi
Yazarlar

Elif Tuğçe Bozduman 0000-0002-6145-8571

Yayımlanma Tarihi 3 Ekim 2025
Gönderilme Tarihi 7 Mart 2025
Kabul Tarihi 16 Temmuz 2025
Yayımlandığı Sayı Yıl 2025 Cilt: 14 Sayı: 4

Kaynak Göster

APA Bozduman, E. T. (2025). The Connection Between Economic Complexity, Foreign Direct Investment and Economic Freedom: A Panel ARDL Approach for The Black Sea Economic Cooperation Organization (BSEC). MANAS Sosyal Araştırmalar Dergisi, 14(4), 1706-1717. https://doi.org/10.33206/mjss.1653340
AMA Bozduman ET. The Connection Between Economic Complexity, Foreign Direct Investment and Economic Freedom: A Panel ARDL Approach for The Black Sea Economic Cooperation Organization (BSEC). MJSS. Ekim 2025;14(4):1706-1717. doi:10.33206/mjss.1653340
Chicago Bozduman, Elif Tuğçe. “The Connection Between Economic Complexity, Foreign Direct Investment and Economic Freedom: A Panel ARDL Approach for The Black Sea Economic Cooperation Organization (BSEC)”. MANAS Sosyal Araştırmalar Dergisi 14, sy. 4 (Ekim 2025): 1706-17. https://doi.org/10.33206/mjss.1653340.
EndNote Bozduman ET (01 Ekim 2025) The Connection Between Economic Complexity, Foreign Direct Investment and Economic Freedom: A Panel ARDL Approach for The Black Sea Economic Cooperation Organization (BSEC). MANAS Sosyal Araştırmalar Dergisi 14 4 1706–1717.
IEEE E. T. Bozduman, “The Connection Between Economic Complexity, Foreign Direct Investment and Economic Freedom: A Panel ARDL Approach for The Black Sea Economic Cooperation Organization (BSEC)”, MJSS, c. 14, sy. 4, ss. 1706–1717, 2025, doi: 10.33206/mjss.1653340.
ISNAD Bozduman, Elif Tuğçe. “The Connection Between Economic Complexity, Foreign Direct Investment and Economic Freedom: A Panel ARDL Approach for The Black Sea Economic Cooperation Organization (BSEC)”. MANAS Sosyal Araştırmalar Dergisi 14/4 (Ekim2025), 1706-1717. https://doi.org/10.33206/mjss.1653340.
JAMA Bozduman ET. The Connection Between Economic Complexity, Foreign Direct Investment and Economic Freedom: A Panel ARDL Approach for The Black Sea Economic Cooperation Organization (BSEC). MJSS. 2025;14:1706–1717.
MLA Bozduman, Elif Tuğçe. “The Connection Between Economic Complexity, Foreign Direct Investment and Economic Freedom: A Panel ARDL Approach for The Black Sea Economic Cooperation Organization (BSEC)”. MANAS Sosyal Araştırmalar Dergisi, c. 14, sy. 4, 2025, ss. 1706-17, doi:10.33206/mjss.1653340.
Vancouver Bozduman ET. The Connection Between Economic Complexity, Foreign Direct Investment and Economic Freedom: A Panel ARDL Approach for The Black Sea Economic Cooperation Organization (BSEC). MJSS. 2025;14(4):1706-17.

MANAS Journal of Social Studies (MANAS Sosyal Araştırmalar Dergisi)     


16155