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1990 SONRASINDA GELİŞEN EKONOMİLERE (E7) YÖNELİK DOĞRUDAN YABANCI YATIRIMLAR VE İKTİSADİ KALKINMA HIZI ÜZERİNDEKİ ETKİLERİ

Year 2016, Faculty of Economics and Administrative Sciences 10th Year Special Issue, 647 - 661, 15.12.2016
https://doi.org/10.31795/baunsobed.662455

Abstract

Bu çalışmada, gelişen yedi ekonomi (E7) içerisinde yer alan Çin, Brezilya, Hindistan,
Endonezya, Meksika, Rusya ve Türkiye’de doğrudan yabancı yatırımların iktisadi kalkınma
hızı üzerindeki etkileri analiz edilmektedir. 1990-2015 dönemini kapsayan yıllık verilerin
kullanıldığı çalışmada, iki değişken arasındaki ilişkinin incelenmesinde dinamik panel veri
analizi tahmincilerinden Genelleştirilmiş Momentler Yöntemi kullanılmıştır. Ulaşılan sonuçlar, gelişen yedi ekonomide doğrudan yabancı yatırımların gayri safi yurtiçi hasıladaki
payı arttığında iktisadi kalkınmanın da hızlanacağını göstermektedir.

References

  • Aizenman, J., Jinjarak, Y., and Park, D. (2013). Capital Flows and Economic Growth in The Era of Financial Integration and Crisis, 1990-2010. Open Econ. Rev., 371-396.
  • Akinlo, A. E. (2004). Foreign Direct Investment and Growth in Nigeria: An Empirical Investigation. Journal of Policy Modeling, 26(5), 627-639.
  • Arellano, M. and Bond, S. (1991). Some Test of Spesification For Panel Data: Monte Carlo Evidence and An Application to Employment Equations. The Review of Economic Studies, 277-279.
  • Asiedu, E. (2002). On the Determinants of Foreign Direct Investment to Developing Countries: Is Africa Different? World Development, 107-119. Baharumshah, A. Z., and Thanoon, M. A.-M. (2006). Foreign Capital Flows and Economic Growth in East Asian Countries. China Economic Review, 70-83.
  • Baltagi, B. H. (2005). Econometric Analysis of Panel Data. West Sussex: John Wiley and Sons.
  • Bengoa, M., and Sanchez-Robles, B. (2003). Foreign Direct Investment, Economic Freedom and Growth: New Evidence From Latin America. European Journal of Political Ecomomy, 529-545.
  • Bhattacharya, S. N. and Bhattacharya, M. (2012). Capital Inflows and Economic Growth: An Indian Perspective. Bogazici Journal of Economics and Administrative Sciences, 26(2), 93-114.
  • Borensztein, E., De Gregorio, J. and Lee, J. W. (1998). How Does Foreign Direct Investment Affect Economic Growth?. Journal of International Economics, 45(1), 115-135.
  • Çağlayan-Akay, E. (2015). Dinamik Panel Veri Modelleri. S. Güriş (Editör), Stata ile Panel Veri Modelleri (s. 81-104). İstanbul: Der Yayınları.
  • De Castro, P. G., Fernandes, E. A., and Campos, A. C. (2013). The Determinants of Foreign Direct Investment in Brasil and Mexico: An Empirical Analysis. Economics and Finance, 231-240.
  • Hansen, H. and Rand, J. (2006). On The Causal Links Between FDI and Growth in Developing Countries. The World Economy, 29(1), 21-41.
  • Karaca, C., ve Abasız, T. (2007). Gelir ve Bölge Ayırımına Göre Uluslararası Sermaye Hareketlerinin Ekonomik Büyüme üzerindeki Etkisi: Ampirik Bir Analiz. Çukurova Üniversitesi İİBF Dergisi, 1-19.
  • Laureti, L. and Postiglione, P. (2005). The Effects of Capital Inflows on The Economic Growth in The Med Area. Journal of Policy Modeling, 27(7), 839-851.
  • Meyer, K. E. and Estrin, S. (2001). Brownfield Entry in Emerging Markets. Journal of International Business Studies, 32(3), 575-584.
  • Mody, A., and Murshid, A. P. (2005). Growing Up with Capital Flows. Journal Of Internaional Economics, 249-266.
  • Nocke, V. and Yeaple, S. (2007). Cross-border Mergers and Acquisitions vs. Greenfield Foreign Direct Investment: The Role of Firm Heterogeneity. Journal of International Economics, 72(2), 336-365.
  • Örnek, İ. (2008). Yabancı Sermaye Akımlarının Yurtiçi Tasarruf ve Ekonomik Büyüme Üzerine Etkisi: Türkiye Örneği. Ankara Üniversitesi SBF Dergisi, 63(02), 199-207.
  • Prasad, E. S., and Rajan, R. (2008). A Pragmatic Approach to Capital Account Libealization. Cambridge: National Bureau of Economic Research.
  • Raisen, H., and Soto, M. (2001). Which Types of Capital Inflows Foster Developing-Country Growth? International Finance, 1-14.
  • Salvatore, D. (2011). International Economics: Trade and Finance. Singapore: John Wiley and Sons .
  • Samadder, S., Ghosh, K. and Basu, T. (2012). Scaling Analysis of Prime StockExchange Indices of The Emerging Seven (E7) Countries. Int J Appl Comput Sci Math, 2(1), 11-22.
  • Soto, M. (2000). Capital Flows and Growth in Developing Countries: Recent Empirical Evidence. OECD Development Centre Working Paper No. 160.
  • Vergil, H., ve Karaca, C. (2010). Gelişmekte Olan Ülkelere Yönelik Uluslararası Sermaye Hareketlerinin Ekonomik Büyüme Üzerindeki Etkisi: Panel Veri Analizi. Ege Akademik Bakış, 1207-1216.
  • Vo, X.-W. (2010). Net Private Capital Flows and Economic Growth-The Case of Emerging Asian Economies. Applied Economies, 3135-3146.
  • World Bank. (2016a). World Development Indicators, Foreign Direct Investment, Net Inflows (BoP, current US$), 20 Eylül 2016 tarihinde http:// databank.worldbank.org/data adresinden erişildi.
  • World Bank. (2016b). World Development Indicators, Foreign Direct Investment, Net Inflows (% of GDP), 20 Eylül 2016 tarihinde http://databank. worldbank.org/data adresinden erişildi.
  • World Bank. (2016c). World Development Indicators, GDP Per Capita Growth (annual %), 20 Eylül 2016 tarihinde http://databank.worldbank.org/ data adresinden erişildi.
  • World Bank. (2016d). World Development Indicators, General Government Final Consumption Expenditure (% of GDP), 20 Eylül 2016 tarihinde http://databank.worldbank.org/data adresinden erişildi.
  • World Bank. (2016e). World Development Indicators, Gross Capital Formation (% of GDP), 20 Eylül 2016 tarihinde http://databank.worldbank.org/ data adresinden erişildi.
  • World Bank. (2016f). World Development Indicators, Exports of Goods and Services (% of GDP), 20 Eylül 2016 tarihinde http://databank.worldbank.org/data adresinden erişildi.
  • World Bank. (2016g). World Development Indicators, Imports of Goods and Services (% of GDP), 20 Eylül 2016 tarihinde http://databank.worldbank.org/data adresinden erişildi.
  • World Bank. (2016h). World Development Indicators, Inflation, GDP Deflator (annual %), 20 Eylül 2016 tarihinde http://databank.worldbank.org/ data adresinden erişildi.
  • Yerdelen-Tatoğlu, F. (2012). İleri Panel Veri Analizi: Stata Uygulamalı. İstanbul: Beta Yayıncılık.
  • Yılgör, M., Serel, A., ve Erçakar, M. E. (2011). Doğrudan Yabancı Yatırımların Gelişini Etkileyen Faktörler: Türkiye Üzerine Bir Model. Balıkesir Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 119-131.
  • Yılmazer, M. (2010). Doğrudan Yabancı Yatırımlar, Dış Ticaret ve Ekonomik Büyüme İlişkisi: Türkiye Üzerine Bir Deneme. Celal Bayar Üniversitesi SBE, Sosyal Bilimler Dergisi, 8(1), 241-260.

Foreign Direct Investment to The Emerging Economies (E7) and The Effects on Economic Development Rate After 1990

Year 2016, Faculty of Economics and Administrative Sciences 10th Year Special Issue, 647 - 661, 15.12.2016
https://doi.org/10.31795/baunsobed.662455

Abstract

In this study, it is analysed that the effects of foreign direct investment on
economic development rate in China, Brasil, India, Indonesia, Mexico, Russia and Turkey,
that’s in on emerging economies (E7). In the study that is used annual data for 1990-2015
period, it is used Generalized Method of Moments, which is a estimator of dynamic panel
data analyses, for investigating between two variable. The obtained results showed that
economic development also accelerate when the share of foreign direct investment in the
gross domestic product increase in the emerging economies.

References

  • Aizenman, J., Jinjarak, Y., and Park, D. (2013). Capital Flows and Economic Growth in The Era of Financial Integration and Crisis, 1990-2010. Open Econ. Rev., 371-396.
  • Akinlo, A. E. (2004). Foreign Direct Investment and Growth in Nigeria: An Empirical Investigation. Journal of Policy Modeling, 26(5), 627-639.
  • Arellano, M. and Bond, S. (1991). Some Test of Spesification For Panel Data: Monte Carlo Evidence and An Application to Employment Equations. The Review of Economic Studies, 277-279.
  • Asiedu, E. (2002). On the Determinants of Foreign Direct Investment to Developing Countries: Is Africa Different? World Development, 107-119. Baharumshah, A. Z., and Thanoon, M. A.-M. (2006). Foreign Capital Flows and Economic Growth in East Asian Countries. China Economic Review, 70-83.
  • Baltagi, B. H. (2005). Econometric Analysis of Panel Data. West Sussex: John Wiley and Sons.
  • Bengoa, M., and Sanchez-Robles, B. (2003). Foreign Direct Investment, Economic Freedom and Growth: New Evidence From Latin America. European Journal of Political Ecomomy, 529-545.
  • Bhattacharya, S. N. and Bhattacharya, M. (2012). Capital Inflows and Economic Growth: An Indian Perspective. Bogazici Journal of Economics and Administrative Sciences, 26(2), 93-114.
  • Borensztein, E., De Gregorio, J. and Lee, J. W. (1998). How Does Foreign Direct Investment Affect Economic Growth?. Journal of International Economics, 45(1), 115-135.
  • Çağlayan-Akay, E. (2015). Dinamik Panel Veri Modelleri. S. Güriş (Editör), Stata ile Panel Veri Modelleri (s. 81-104). İstanbul: Der Yayınları.
  • De Castro, P. G., Fernandes, E. A., and Campos, A. C. (2013). The Determinants of Foreign Direct Investment in Brasil and Mexico: An Empirical Analysis. Economics and Finance, 231-240.
  • Hansen, H. and Rand, J. (2006). On The Causal Links Between FDI and Growth in Developing Countries. The World Economy, 29(1), 21-41.
  • Karaca, C., ve Abasız, T. (2007). Gelir ve Bölge Ayırımına Göre Uluslararası Sermaye Hareketlerinin Ekonomik Büyüme üzerindeki Etkisi: Ampirik Bir Analiz. Çukurova Üniversitesi İİBF Dergisi, 1-19.
  • Laureti, L. and Postiglione, P. (2005). The Effects of Capital Inflows on The Economic Growth in The Med Area. Journal of Policy Modeling, 27(7), 839-851.
  • Meyer, K. E. and Estrin, S. (2001). Brownfield Entry in Emerging Markets. Journal of International Business Studies, 32(3), 575-584.
  • Mody, A., and Murshid, A. P. (2005). Growing Up with Capital Flows. Journal Of Internaional Economics, 249-266.
  • Nocke, V. and Yeaple, S. (2007). Cross-border Mergers and Acquisitions vs. Greenfield Foreign Direct Investment: The Role of Firm Heterogeneity. Journal of International Economics, 72(2), 336-365.
  • Örnek, İ. (2008). Yabancı Sermaye Akımlarının Yurtiçi Tasarruf ve Ekonomik Büyüme Üzerine Etkisi: Türkiye Örneği. Ankara Üniversitesi SBF Dergisi, 63(02), 199-207.
  • Prasad, E. S., and Rajan, R. (2008). A Pragmatic Approach to Capital Account Libealization. Cambridge: National Bureau of Economic Research.
  • Raisen, H., and Soto, M. (2001). Which Types of Capital Inflows Foster Developing-Country Growth? International Finance, 1-14.
  • Salvatore, D. (2011). International Economics: Trade and Finance. Singapore: John Wiley and Sons .
  • Samadder, S., Ghosh, K. and Basu, T. (2012). Scaling Analysis of Prime StockExchange Indices of The Emerging Seven (E7) Countries. Int J Appl Comput Sci Math, 2(1), 11-22.
  • Soto, M. (2000). Capital Flows and Growth in Developing Countries: Recent Empirical Evidence. OECD Development Centre Working Paper No. 160.
  • Vergil, H., ve Karaca, C. (2010). Gelişmekte Olan Ülkelere Yönelik Uluslararası Sermaye Hareketlerinin Ekonomik Büyüme Üzerindeki Etkisi: Panel Veri Analizi. Ege Akademik Bakış, 1207-1216.
  • Vo, X.-W. (2010). Net Private Capital Flows and Economic Growth-The Case of Emerging Asian Economies. Applied Economies, 3135-3146.
  • World Bank. (2016a). World Development Indicators, Foreign Direct Investment, Net Inflows (BoP, current US$), 20 Eylül 2016 tarihinde http:// databank.worldbank.org/data adresinden erişildi.
  • World Bank. (2016b). World Development Indicators, Foreign Direct Investment, Net Inflows (% of GDP), 20 Eylül 2016 tarihinde http://databank. worldbank.org/data adresinden erişildi.
  • World Bank. (2016c). World Development Indicators, GDP Per Capita Growth (annual %), 20 Eylül 2016 tarihinde http://databank.worldbank.org/ data adresinden erişildi.
  • World Bank. (2016d). World Development Indicators, General Government Final Consumption Expenditure (% of GDP), 20 Eylül 2016 tarihinde http://databank.worldbank.org/data adresinden erişildi.
  • World Bank. (2016e). World Development Indicators, Gross Capital Formation (% of GDP), 20 Eylül 2016 tarihinde http://databank.worldbank.org/ data adresinden erişildi.
  • World Bank. (2016f). World Development Indicators, Exports of Goods and Services (% of GDP), 20 Eylül 2016 tarihinde http://databank.worldbank.org/data adresinden erişildi.
  • World Bank. (2016g). World Development Indicators, Imports of Goods and Services (% of GDP), 20 Eylül 2016 tarihinde http://databank.worldbank.org/data adresinden erişildi.
  • World Bank. (2016h). World Development Indicators, Inflation, GDP Deflator (annual %), 20 Eylül 2016 tarihinde http://databank.worldbank.org/ data adresinden erişildi.
  • Yerdelen-Tatoğlu, F. (2012). İleri Panel Veri Analizi: Stata Uygulamalı. İstanbul: Beta Yayıncılık.
  • Yılgör, M., Serel, A., ve Erçakar, M. E. (2011). Doğrudan Yabancı Yatırımların Gelişini Etkileyen Faktörler: Türkiye Üzerine Bir Model. Balıkesir Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 119-131.
  • Yılmazer, M. (2010). Doğrudan Yabancı Yatırımlar, Dış Ticaret ve Ekonomik Büyüme İlişkisi: Türkiye Üzerine Bir Deneme. Celal Bayar Üniversitesi SBE, Sosyal Bilimler Dergisi, 8(1), 241-260.
There are 35 citations in total.

Details

Primary Language Turkish
Subjects Economics
Journal Section Research Article
Authors

Bedriye Tunçsiper

Ömer Faruk Biçen

Publication Date December 15, 2016
Submission Date September 27, 2016
Acceptance Date December 7, 2016
Published in Issue Year 2016 Faculty of Economics and Administrative Sciences 10th Year Special Issue

Cite

APA Tunçsiper, B., & Biçen, Ö. F. (2016). 1990 SONRASINDA GELİŞEN EKONOMİLERE (E7) YÖNELİK DOĞRUDAN YABANCI YATIRIMLAR VE İKTİSADİ KALKINMA HIZI ÜZERİNDEKİ ETKİLERİ. Balıkesir Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 19(36), 647-661. https://doi.org/10.31795/baunsobed.662455

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