THE RELATIONSHIP BETWEEN FOREIGN DIRECT INVESTMENTS AND ECONOMIC GROWTH IN TURKEY / Türkiye’de Doğrudan Yabancı Sermaye Yatırımları İle Ekonomik Büyüme Arasındaki İlişki

Öz

Türkiye’de doğrudan yabancı sermaye yatırımları (DYSY) 1980’li yılların başlarında başlatılan liberalleşme programı sonrasında hızla genişlemiştir. Türkiye, DYSY çekme performansı açısından 2000 sonrası dönemde rekor bir seviye yakalamıştır. Yabancı para girişi, sermaye stokunda artış, istihdam ve teknoloji transferi, DYSY’nin alıcı ülkeye sağladığı yararlardan bazılarıdır. DYSY’nin alıcı ülkenin ekonomisine en önemli etkisi, üretim gerçekleştirme yolu ile sağladığı katkıdır. Bu ampirik çalışma 1980-2015 periyodunda, DYSY ile ekonomik büyüme arasındaki ilişkiyi zaman serisi analizi ile araştırmaktadır. Johansen Eş-bütünleşme testi sonuçları, ekonomik büyüme ile FDI arasında pozitif uzun dönem ilişki olduğunu göstermiş ve etki istatistiksel olarak anlamlı bulunmuştur. Granger nedensellik testi bulgularına göre, DYSY ile ekonomik büyüme arasında karşılıklı bir ilişki bulunmaktadır. Bu çalışmanın sonuçları, Türkiye’de DYSY’deki pozitif bir değişimin, mal ve hizmetlerin üretimi artışını desteklediğini göstermektedir

Anahtar Kelimeler

• Doğrudan Yabancı Sermaye Yatırımı
• Ekonomik Büyüme
• Johansen Eş-bütünleşme Testi
• Granger Nedensellik Testi

THE RELATIONSHIP BETWEEN FOREIGN DIRECT INVESTMENTS AND ECONOMIC GROWTH IN TURKEY / Türkiye’de Doğrudan Yabancı Sermaye Yatırımları İle Ekonomik Büyüme Arasındaki İlişki

Öz

Foreign direct investments (FDI) in Turkey expanded rapidly following the liberalization programme initiated in early 1980s. Turkey accomplished a record level in terms of its performance to attract FDI in post-2000 era. Foreign currency inflow, capital stock increase, employment generation, and technology transfer are among the benefits of FDI to host country. The most significant impact of FDI is contribution to host country’s economy through realizing production. This empirical study explores the relationship between FDI and economic growth in Turkey using time series analysis for 1980-2015 period. Johansen Co-integration test results demonstrated a positive long-run relationship between economic growth and FDI, and the effect was found as statistically significant. According to Granger causality test findings, there is bidirectional causality between economic growth and FDI. The results of this study imply that a positive change in level of FDI is likely to increase the production of goods and services in Turkey.

Anahtar Kelimeler

• Foreign Direct Investment
• Economic Growth
• Johansen Co-integration Test
• Granger Causality Test

Kaynakça

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