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Doğrudan Yabancı Yatırımların Ekonomik Büyüme Üzerindeki Etkisi: ARDL Yönteminden Ampirik Kanıtlar

Year 2023, Volume: 14 Issue: 27, 41 - 61, 31.05.2023

Tuğba Funda Kılıç Oktay Kızılkaya

https://doi.org/10.47129/bartiniibf.1292180

Abstract

Küreselleşmenin etkisi ile zaman içerisinde ülkeler ekonomik büyümelerini sürdürülebilmek için doğrudan yabancı yatırımlara duyulan ihtiyaç giderek artmaktadır. Doğrudan yabancı yatırımlar (DYY) sermaye oluşumu, teknoloji, yönetim bilgisi, ticaret ve rekabetçilik gibi kanallar aracılığıyla ülkelerin ekonomik büyüme ve kalkınma süreçleri üzerinde etkili olmaktadır. Dolayısıyla çalışmanın amacı Türkiye’de 1990-2020 yıllarını kapsayan kişi başı GSYH, DYY, BSSO ve ENF değişkenleri arasında gerçekleşen kısa ve uzun dönem ilişkileri ARDL zaman serisi yöntemiyle analiz etmektir. Ulaşılan bulgular neticesinde, Türkiye’de söz konusu değişkenlerin eş bütünleşik olduğu ve uzun dönemde DYY, BSSO ve ENF değişkenleri kısa dönemde ise DYY ve BSSO değişkenlerinin GSYH rakamları üzerinde etkinin pozitif olduğu bir bağlantıya rastlanmıştır.

Keywords

ARDL Doğrudan Yabancı Yatırımlar Ekonomik Büyüme Türkiye Zaman Serisi

References

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The Effect of Foreign Direct Investments on Economic Growth: Empirical Evidence From The ARDL Method

Year 2023, Volume: 14 Issue: 27, 41 - 61, 31.05.2023

Tuğba Funda Kılıç Oktay Kızılkaya

https://doi.org/10.47129/bartiniibf.1292180

Abstract

With the effect of globalization and over time, the need for foreign direct investments is increasing for countries to maintain their economic growth. Foreign direct investment (FDI) has an impact on the economic growth and development processes of countries through channels such as capital formation, technology, management knowledge, trade and competitiveness. Therefore, the aim of the study is to analyze the short and long-term relationships between the GDP per capita, FDI, BSSO and ENF variables covering the years 1990-2020 in Turkey with the ARDL time series method. As a result of the findings, a link was found in Turkey where the variables in question are cointegrated and FDI, BSSO and ENF variables in the long run and FDI and BSSO variables have a positive effect on GDP figures in the short run

Keywords

ARDL Doğrudan Yabancı Yatırımlar Ekonomik Büyüme Türkiye Zaman Serisi

References

  • Abuduaini, M. (2019), The Determinants of Inward Foreign Direct Investment in Turkey, Sakarya University Graduate School of Business, Master’s Thesis, Sakarya.
  • Ağır, H., Rutbil, M. (2019), Türkiye’de Doğrudan Yabancı Yatırımlar ve Ekonomik Büyüme, Maliye Araştırmaları Dergisi, 5(3), 287-299.
  • Alabi, K. O. (2019), The Impact of Foreign Direct Investment on Economic Growth: Nigeria Experience,Open Journal of Applied Sciences, 9(5), 372.
  • Alagöz, M., Erdoğan, S. ve Topallı, N. (2008), Doğrudan Yabancı Sermaye Yatırımları ve Ekonomik Büyüme: Türkiye Deneyimi 1992‐2007, Gaziantep Üniversitesi Sosyal Bilimler Dergisi, 7(1), 79‐89.
  • Ali, H. S. and Abdullahi, İ. İ. (2015), Foreign Direct Investment and Growth of The Nigerian Economy: ARDL Bound Testing Approach', International Journal of Economics and Business Research, 2(3), 121-132.
  • Amin, A., Anwar, S., and Liu, X. (2022), Outward Foreign Direct Investment and Economic Growth in Romania: Evidence From Non‐Linear ARDL Approach, International Journal of Finance and Economics, 27(1), 665-677.
  • Arıkan, D. (2006), Türkiye’de Doğrudan Yabancı Sermaye Yatırımları. Arıkan Basım Yayım Dağıtım: İstanbul.
  • Arısoy, İ. (2012), The Impact of Foreign Direct Investment on Total Factor Productivity and Economıc Growth in Turkey, The Journal of Developing Areas, 46(1), 17-29.
  • Asheghian, P. (2004), Determinants of Economic Growth in The United States: The Role of Foreign Direct Investment, The International Trade Journal, 18(1), 63-83.
  • Aslanoğlu, E. (2002),The Structure and The Impact of Foreign Direct Investment in Turkey, Marmara Üniversitesi İİBF Dergisi, 17(1), 63-83.
  • Ayyıldız, F. V. ve Üzümcü, A. (2022), Doğrudan Yabancı Sermaye Yatırımları-İktisadi Büyüme İlişkisi: BRICS-T Ülkeleri Örneği, Ekonomik ve Sosyal Araştırmalar Dergisi, 18(1), 28-40.
  • Başar, S. and Çakıcı Özkılbaç, S. (2016), Effects of Outward Foreign Direct Investment of Turkey on Economic Growth and Domestic Investment, Ankara Üniversitesi SBF Dergisi, 71 (1) , 231-247.
  • Benghoul, M. and Aydın, H. İ. (2019), Foreign Direct Investment and Economıc Growth in Turkey, Süleyman Demirel Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 24 (4), 1181-1194.
  • Bilgiç, E. (2007), Causal Relationship Between Foreign Direct Investment and Economic Growth in Turkey, University of Skövde, School of Technology and Society, 1-28.
  • Boka, A. (2020), Türkiye ve Arnavutluk’taki Doğrudan Yabancı Sermaye Yatırımlarını Etkileyen Faktörlerin Karşılaştırmalı Olarak Analizi, Hacı Bayram Veli Üniversitesi Lisansüstü Eğitim Enstitüsü, Yüksek Lisans Tezi, Ankara.
  • Bosworth, B. and Collins, S. M. (1999), Capital Inflows, Investment and Growth, Tokyo Club Papers, 12, 35-74.
  • Campos N.F., Kinoshita, Y. (2002), Foreign Direct Investment as Technology Transferred: Some Panel Evidence From the Transition Economies, William Davidson Institude Working Paper, 438, 1-35.
  • Chakraborty, C. and Basu, P. (2002), Foreign Direct Investment and Growth in India: A Cointegration Approach, Applied Economics, 34(9), 1061-1073.
  • Carkovic, M. and Levine, R. (2002), Does Foreign Direct Investment Acelerate Economic Growth?, Working Paper, University of Minnesota, Minneapolis and Saint Paul.
  • Çoban, O. and Yussıf, A. (2019), Relationships Between Economic Growth, Foreign Direct Investment and Inflation: Ardl Models Approach For The Case of Ghana, Eurasian Research Journal, 1(2), 7-23.
  • Deichmann, J. (2021), Foreign Direct Investment in Turkey: Enhancing Its Impact on Economic Development, Ekonomi-Tek, 10(2) , 69-87.
  • Djurovic, A. B. (2012), The Impact of Foreign Direct Investment on The Economic Growth in Developing Countries, Economic Development, 2(3), 160-175.
  • Doğan, E. (2013), Foreign Direct Investment and Economic Growth: A Time Series Analysis of Turkey, 1979-2011, Çankırı Karatekin Üniversitesi İİBF Dergisi, 3(2), 239-252.
  • Durham, J. B. (2004), Absorptive Capacity and The Effects of Foreign Direct Investment and Equity Foreign Portfolio Investment On Economic Growth, European Economic Review, 48(2), 285-306. Emir, M. and Kutlu, M. (2014), Relationship Between Foreign Direct Investment and Economic Growth in Developing Countries, Journal of Economics, Finance and Accounting, 1(1), 38-45.
  • Ercan, M. K. (2001), Doğrudan Yabancı Yatırımlar ile Ülkenin Kalkınmışlığı ve Krizler Arasındaki İlişki, Gazi Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 2, 81-92.
  • Fosu, E. O. and Mangus, F. (2006), Bounds Testing Approach to Cointergration: An Examination of Foreign Direct Investment, Trade and Growth Relationship, Journal of American Applied Science, 3(11), 2079-2085.
  • Gifty, A. M., Antwi, S., Atta Mills, E. F., and Zhao, X. (2013), Impact of Foreign Direct Investment on Economic Growth: Empirical Evidence From Ghana, International Journal of Academic Research in Accounting, Finance and Management Sciences, 3(1), 18-25.
  • Göçer, İ. (2013), Ekonomik Büyümenin Belirleyicileri: Sınır Testi Yaklaşımı, Siyaset, Ekonomi ve Yönetim Araştırmaları Dergisi, 1(1), 75-91.
  • Gökmen, O. (2021) The Relationship between Foreign Direct Investment and Economic Growth: A Case of Turkey, International Journal of Economics and Finance, 13(7), 85-97.
  • Herzer, D. S. K. and F. N. Lehmann (2008), In Search of Fdi-Led Growth in Developing Countries: The Way Forward, Economic Modelling, 25(5), 793-810.
  • Iamsiraroj, S. (2016), The Foreign Direct Investment–Economic Growth Nexus, International Review of Economics and Finance, 42, 116-133.
  • Işık, C. (2016), Doğrudan Tabancı Sermaye Yatırımları ve Ekonomik Büyüme İlişkisi: Sınır Testi Yaklaşımıyla Türkiye, IUJEAS, 1(1), 1-12.
  • Khaliq, A. and Noy, I. (2007), Foreign Direct Investment and Economic Growth: Empirical Evidence from Sectoral Data in Indonesia, Working Paper, University of Hawaii.
  • Kholdy, S. and Sohrabian, A. (2005), Financial Market, FDI and Economic Growth: Granger Causality Tests in Panel Data Model, Working Paper, California State Polytechnic University.
  • Klasra, M. A. (2011), Foreign Direct Investment, Trade Openness And Economic Growth in Pakistan and Turkey: An Investigation Using Bounds Test? Quality And Quantity, International Journal of Methodology, 45(1), 223-231.
  • Kocatürk, Y. (2022), Dış Ticaret ve Doğrudan Yabancı Yatırımların Analizi: Seçili Balkan Ülkeleri Üzerine Bir Analiz, Trakya Üniversitesi Sosyal Bilimler Enstitüsü, Yüksek Lisans Tezi, Edirne.
  • Kohpaiboon, A. (2003), Foreign Trade Regimes and The FDI-Growth Nexus: A Case Study of Thailand, The Journal of Development Studies, 40(2), 55-69.
  • Koojaroenprasit, S. (2012), The Impact of Foreign Direct Investment on Economic Growth: A Case Study of South Korea, International Journal of Business and Social Science, 3(21).
  • Kula, F. (2006), Çokuluslu Girişimler ve Türkiye. İleri Yayınları: İstanbul
  • Li, X., Liu, X. (2005), Foreign Direct Investment and Economic Growth: an Increasingly Endogenous Relationship, World Development, 33(3), 393- 407.
  • Marasco, A. (2021), Foreign Direct Investment, Technology and Economic Growth: What The Data Say , Ekonomi-Tek, 10 (2), 89-110.
  • Mencinger, J. (2003), Does Foreign Direct Investment Always Enhance Economic Growth?, Kyklos, 56(4), 491-508.
  • Moyo, T. (2013), The Impact of Foreign Direct Investment on Economic Growth: The Case of Zimbabwe (2009-2012), International Journal of Economics, Finance and Management Sciences, 1(6), 323-329.
  • Mucuk, M., Demirsel, M.T. (2009), Türkiye’de Doğrudan Yabancı Yatırımlar ve Ekonomik Performans, Selçuk Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 21, 364-373.
  • Narayan, P. K. and R. Smyth (2006), What Determines Migration Flows from Low-Income to High-Income Countries? An Empirical Investigation of Fiji-U.S. Migration 1972-2001, Contemporary Economic Policy, 24(2), 332-342.
  • Narin, G. (2007), Türkiye’ye Gelen Doğrudan Yabancı Sermaye Yatırımlarının Özellikleri ve Türkiye Ekonomisi Üzerindeki Olası Etkileri, Gazi Üniversitesi Sosyal Bilimler Enstitüsü, Yüksek Lisans Tezi, Ankara.
  • Nkoro, E., Uko, A. K. (2016), Autoregressive Distributed Lag (ARDL) Cointegration Technique: Application and Interpretation, Journal of Statistical and Econometric Methods, 5(4), 63-91.
  • Ntamwiza, J. M. V., Masengesho, F. (2022), Impact of Gross Capital Formation and Foreign Direct Investment on Economic Growth in Rwanda (1990-2017), Current Urban Studies, 10(1), 1-13.
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Details

Primary Language Turkish
Subjects Economics
Journal Section Makaleler
Authors

Tuğba Funda Kılıç 0000-0002-1959-9426

Oktay Kızılkaya 0000-0002-7165-6088

Publication Date May 31, 2023
Submission Date May 5, 2023
Acceptance Date May 28, 2023
Published in Issue Year 2023 Volume: 14 Issue: 27

Cite

APA Kılıç, T. F., & Kızılkaya, O. (2023). Doğrudan Yabancı Yatırımların Ekonomik Büyüme Üzerindeki Etkisi: ARDL Yönteminden Ampirik Kanıtlar. Bartın Üniversitesi İktisadi Ve İdari Bilimler Fakültesi Dergisi, 14(27), 41-61. https://doi.org/10.47129/bartiniibf.1292180
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