İnternet Penetrasyonu, Doğrudan Yabancı Yatırımlar, Dış Ticaret ve Ekonomik Büyüme Arasındaki Nedensellik İlişkileri: BRICS-T Ülkeleri Üzerine Bir Araştırma

Yıl 2023, , 439 - 458, 31.01.2023

Demet Yaman Songur

https://doi.org/10.17233/sosyoekonomi.2023.01.22

Cited By: 3

Öz

İnternet kullanımının yaygınlaşmasıyla birlikte internet penetrasyonu ile makroekonomik göstergeler arasındaki ilişkilerin incelenmesi önemli hale gelmiştir. Bu çalışmanın amacı, 1993-2019 dönemi için BRICS-T (Brezilya, Rusya, Hindistan, Çin, Güney Afrika ve Türkiye) ülkelerinde internet penetrasyonu, doğrudan yabancı yatırımlar, dış ticaret ve ekonomik büyüme arasındaki nedensellik ilişkilerini incelemektir. Bu kapsamda çalışmada panel veri analiz tekniklerinden yararlanılmıştır. Değişkenler arasındaki nedensellik ilişkisi, Dumitrescu ve Hurlin (2012) tarafından geliştirilen nedensellik testi kullanılarak araştırılmıştır. Bulgular, değişkenler arasında güçlü nedensellik ilişkilerinin varlığını destekleyen niteliktedir.

Anahtar Kelimeler

İnternet Penetrasyonu, Doğrudan Yabancı Yatırımlar, Dış Ticaret ve Ekonomik Büyüme, Panel Veri Analizi

Causality Relationships Between Internet Penetration, Foreign Direct Investments, Foreign Trade and Economic Growth: An Investigation on BRICS-T Countries

Öz

With the widespread use of the internet, it has become important to examine the relationships between internet penetration and macroeconomic indicators. This study examines the causal relationships between internet penetration, foreign direct investments, foreign trade, and economic growth in BRICS-T (Brazil, Russia, India, China, South Africa, and Turkey) countries from 1993-2019. In this context, panel data analysis techniques were used in the study. The causality relationship between the variables was investigated using the causality test developed by Dumitrescu and Hurlin (2012). The findings showed that there are strong causal relationships between the variables.

Anahtar Kelimeler

Internet Penetration, Foreign Direct Investments, Foreign Trade, Economic Growth, Panel Data Analysis

Kaynakça

• Addison, T. & A. Heshmati (2004), “The New Global Determinants of FDI to Developing Countries”, Research in Banking and Finance, 151-186.
• Akinlo, A.E. (2004), “Foreign Direct Investment and Growth in Nigeria: An Empirical Investigation”, Journal of Policy Modeling, 26(5), 627-639.
• Anwar, S. & L.P. Nguyen (2010), “Foreign Direct Investment and Economic Growth in Vietnam”, Asia Pacific Business Review, 16(1-2), 183-202.
• Arvin, B.M. & R.P. Pradhan (2014), “Broadband Penetration and Economic Growth Nexus: Evidence from Cross-Country Panel Data”, Applied Economics, 46(35), 4360-4369.
• Arvin, M.B. et al. (2021), “Uncovering Interlinks among ICT Connectivity and Penetration, Trade Openness, Foreign Direct Investment, and Economic Growth: The Case of the G-20 Countries”, Telematics and Informatics, 60, 101567.
• Artan, S. & C. Kalaycı (2009), “İnternetin uluslararasi ticaret üzerindeki etkileri: OECD ülkeleri örneği”, Doğuş Üniversitesi Dergisi, 10(2), 175-187.
• Baltagi, B.H. et al. (2009), “Financial Development and Openness: Evidence from Panel Data”, Journal of Development Economics, 89(2), 285-296.
• Belloumi, M. (2014), “The Relationship between Trade, FDI and Economic Growth in Tunisia: An Application of the Autoregressive Distributed Lag Model”, Economic Systems, 38(2), 269-287.
• Borensztein, E. et al. (1998), “How Does Foreign Direct Investment Affect Economic Growth?”, Journal of International Economics, 45(1), 115-135.
• Bosworth, B. & S.M. Collins (1999), “Capital Inflows, Investment and Growth”, Tokyo Club Papers, 12(11), 55-74.
• Breusch, T.S. & A.R. Pagan (1980), “The Lagrange Multiplier test and Its Applications to Model Specification in Econometrics”, The Review of Economic Studies, 47(1), 239-253.
• Dumitrescu, E.I. & C. Hurlin (2012), “Testing for Granger Non-Causality in Heterogeneous Panels”, Economic Modelling, 29(4), 1450-1460.
• Dinh, T.T.H. et al. (2019), “Foreign Direct Investment and Economic Growth in the Short Run and Long Run: Empirical Evidence from Developing Countries”, Journal of Risk and Financial Management, 12(4), 176.
• Donghui, Z. et al. (2018), “Trade Openness and FDI Inflows: A Comparative Study of Asian Countries”, European Online Journal of Natural and Social Sciences, 7(2), 386-396.
• Gholami, R. et al. (2006), “The Causal Relationship between Information and Communication Technology and Foreign Direct Investment”, World Economy, 29(1), 43-62.
• Granger, C.W. (1969), “Investigating Causal Relations by Econometric Models and Cross-Spectral Methods”, Econometrica: Journal of the Econometric Society, 37(3), 424-438.
• Haini, H. (2019), “Internet Penetration, Human Capital and Economic Growth in the ASEAN Economies: Evidence from a Translog Production Function”, Applied Economics Letters, 26(21), 1774-1778.
• Herzer, D. & S. Klasen (2008), “In Search of FDI-Led Growth in Developing Countries: The Way Forward”, Economic Modelling, 25(5), 793-810.
• Huchet‐Bourdon, M. et al. (2018), “The Relationship between Trade Openness and Economic Growth: Some New Insights on the Openness Measurement Issue”, The World Economy, 41(1), 59-76.
• Irandoust, J.E.M. (2001), “On the Causality between Foreign Direct Investment and Output: A Comparative Study”, The International Trade Journal, 15(1), 1-26.
• Jorgenson, D.W. & K.M. Vu (2016), “The ICT Revolution, World Economic Growth, and Policy Issues”, Telecommunications Policy, 40(5), 383-397.
• Keho, Y. (2017), “The Impact of Trade Openness on Economic Growth: The Case of Cote d'Ivoire”, Cogent Economics & Finance, 5(1), 1-14.
• Kenny, C. (2003), “The Internet and Economic Growth in Less-Developed Countries: A Case of Managing Expectations?”, Oxford Development Studies, 31(1), 99-113.
• Kurniawati, M.A. (2020), “The role of ICT Infrastructure, Innovation and Globalization on Economic Growth in OECD Countries, 1996-2017”, Journal of Science and Technology Policy Management, 11(2), 193-215.
• Latif, Z. et al. (2018), “The Dynamics of ICT, Foreign Direct Investment, Globalization and Economic Growth: Panel Estimation Robust to Heterogeneity and Cross-Sectional Dependence”, Telematics and Informatics, 35(2), 318-328.
• Li, X. & X. Liu (2005), “Foreign Direct Investment and Economic Growth: An Increasingly Endogenous Relationship”, World Development, 33(3), 393-407.
• Liargovas, P.G. & K.S. Skandalis (2012), “Foreign Direct Investment and Trade Openness: The Case of Developing Economies”, Social Indicators Research, 106(2), 323-331.
• Luiz De Mello Jr, R. (1997), “Foreign Direct Investment in Developing Countries and Growth: A Selective Survey”, The Journal of Development Studies, 34(1), 1-34.
• Ma, Y. & A. Rauf (2020), “Indigenous Innovation, Foreign Technology Transfer and the Export Performance of China’s Manufacturing Industries”, The Singapore Economic Review, 65(05), 1349-1366.
• Maiti, D. et al. (2020), “Digitalisation and Development: Issues for India and Beyond”, in: D. Maiti et al. (eds.), Digitalisation and Development (3-29), Singapore: Springer.
• Mayer, W. et al. (2020), “Broadband and Economic Growth: a Reassessment”, Information Technology for Development, 26(1), 128-145.
• Menyah, K. et al. (2014), “Financial Development, Trade Openness and Economic Growth in African Countries: New Insights from a Panel Causality Approach”, Economic Modelling, 37, 386-394.
• Niebel, T. (2018), “ICT and Economic Growth-Comparing Developing, Emerging and Developed Countries”, World Development, 104, 197-211.
• Pesaran, M.H. (2004), General Diagnostic Tests for Cross Section Dependence in Panels, <http://www.dspace.cam.ac.uk/bitstream/1810/446/1/cwpe0435.pdf>, 16.04.2022.
• Pesaran, H.M. (2007), “A Simple Panel Unit Root Test in the Presence of Cross-Section Dependence”, Journal of Applied Econometrics, 22, 265-312.
• Pesaran, M.H. & T. Yagamata (2008), “Testing Slope Homogeneity in Large Panels”, Journal of Econometrics, 142(1), 50-93.
• Pesaran, M.H. et al. (2008), “A Bias‐Adjusted LM Test of Error Cross‐Section Independence”, The Econometrics Journal, 11(1), 105-127.
• Pradhan, R.P. et al. (2014), “Economic Growth and the Development of Telecommunications Infrastructure in the G-20 Countries: A Panel-VAR Approach”, Telecommunications Policy, 38(7), 634-649.
• Pradhan, R.P. et al. (2015), “A Quantitative Assessment of the Trade Openness-Economic Growth Nexus in India”, International Journal of Commerce and Management, 25(3), 267-293.
• Pradhan, R.P. et al. (2016), “Relationships between Telecommunications Infrastructure, Capital Formation, and Economic Growth”, International Journal of Technology Management, 70(2-3), 157-176.
• Pradhan, R.P. et al. (2017a), “Mobile Telephony, Economic Growth, Financial Development, Foreign Direct Investment, and Imports of ICT Goods: the Case of the G-20 Countries”, Economia e Politica Industriale, 45(2), 279-310.
• Pradhan, R.P. et al. (2017b), “Telecommunications Infrastructure and Usage and the FDI-Growth Nexus: Evidence from Asian-21 Countries”, Information Technology for Development, 23(2), 235-260.
• Pradhan, R.P. et al. (2017c), “The Innovation-Growth Link in OECD Countries: Could other Macroeconomic Variables Matter?”, Technology in Society, 51, 113-123.
• Qiu, W. (2021), “An Empirical Study on the Influence of Gansu foreign Trade Scale on Economic Growth”, in: Second International Conference on Industrial IoT, Big Data, and Supply Chain (246-251), 12128.
• Özkan, G.S. & H. Çelik (2018), “Bilgi iletişim teknolojileri ile ekonomik büyüme arasındaki ilişki: Türkiye için bir uygulama”, Uluslararası Ticaret ve Ekonomi Araştırmaları Dergisi, 2(1), 1-15.
• Roller, L.H. & L. Waverman (2001), “Telecommunications Infrastructure and Economic Development: A Simultaneous Approach”, American Economic Review, 91(4), 909-923.
• Roy, S. (2020), “Foreign Trade Policy and Economic Growth: Indian Evidence”, Theoretical & Applied Economics, 27(3), 107-126.
• Saimul, S. & A. Darmawan (2020), “Understanding Causality Relation among FDI, Foreign Trade and Economic Growth”, Economics Development Analysis Journal, 9(4), 414-426.
• Salahuddin, M. & J. Gow (2016), “The Effects of Internet Usage, Financial Development and Trade Openness on Economic Growth in South Africa: A Time Series Analysis”, Telematics and Informatics, 33(4), 1141-1154.
• Sazali, S.B.M. et al. (2018), “Causal Links between Trade Openness and Foreign Direct Investment in Malaysia”, International Journal of Academic Research in Business and Social Sciences, 8(1), 932-939.
• Seyoum, M. et al. (2014). “Foreign Direct Investment and Trade Openness in Sub‐Saharan Economies: A Panel Data Granger Causality Analysis”, South African Journal of Economics, 82(3), 402-421.
• Seyoum, M. et al. (2015), “Foreign Direct Investment and Economic Growth: The Case of Developing African Economies”, Social Indicators Research, 122(1), 45-64.
• Shirazi, F. et al. (2010), “Do Foreign Direct Investment (FDI) and Trade Openness Explain the Disparity in ICT Diffusion between Asia-Pacific and the Islamic Middle Eastern countries?”, Journal of Global Information Management, 18(3), 59-81.
• Sunde, T. (2017), “Foreign Direct Investment, Exports and Economic Growth: ADRL and Causality Analysis for South Africa”, Research in International Business and Finance, 41, 434-444.
• Teixeira, A.A. & N. Fortuna (2010), “Human Capital, R&D, Trade, and Long-Run Productivity. Testing the Technological Absorption Hypothesis for the Portuguese Economy 1960-2001”, Research Policy, 39(3), 335-350.
• Tiba, S. & F. Belaid (2020), “The Pollution Concern in the Era of Globalization: Do the Contribution of Foreign Direct Investment and Trade Openness Matter?”, Energy Economics, 92, 104966.
• Tiwari, A.K. et al. (2022), “Impact of Equity Market Development on Renewable Energy Consumption: Do the Role of FDI, Trade Openness and Economic Growth Matter in Asian Economies?”, Journal of Cleaner Production, 334, 130244
• Ulaşan, B. (2015), “Trade Openness and Economic Growth: Panel Evidence”, Applied Economics Letters, 22(2), 163-167.
• Veeramacheneni, B. et al. (2008), “Information Technology, FDI and Economic Growth: an India Case Study”, Southwestern Economic Review, 35, 95-111.
• Vu, K.M. (2011), “ICT as a Source of Economic Growth in the Information Age: Empirical Evidence from the 1996-2005 Period”, Telecommunications Policy, 35(4), 357-372.
• World Bank (2018), Data-Driven Development, Washington: The World Bank.
• Yaman-Songur, D. (2017), “Doğrudan Yabancı Yatırımlar ve Dış Ticaret’in Gayri Safi Yurtiçi Hasıla Üzerine Etkisi: Avrasya Ülkeleri Örneği”, Bulletin of Economic Theory and Analysis, 2(2), 117-133.
• Yaoxing, Y. (2010), “The Relationship between Foreign Direct Investment, Trade Openness and Growth in Cote d’Ivoire”, International Journal of Business and Management, 5(7), 99-107.
• Yeboua, K. (2021), “Foreign Direct Investment and Economic Growth in Africa: New Empirical Approach on the Role of Institutional Development”, Journal of African Business, 22(3), 361-378.
• Yousefi, A. (2011), “The Impact of Information and Communication Technology on Economic Growth: Evidence from Developed and Developing Countries”, Economics of Innovation and New Technology, 20(6), 581-596.
• Zhang, K.H. (1999), “Foreign Direct Investment and Economic Growth: Evidence from Ten East Asian Economies”, Economia Internazionale/International Economics, 52(4), 517-535.
• Zhang, K.H. (2001), “How Does Foreign Direct Investment Affect Economic Growth in China?. Economics of Transition”, 9(3), 679-693.
• Zhao, C. & J. Du (2007), “Causality between FDI and Economic Growth in China”, Chinese Economy, 40(6), 68-82.