BRICS-T ÜLKELERİNDE EKONOMİK ÖZGÜRLÜKLER VE DOĞRUDAN YABANCI SERMAYE YATIRIMLARI ARASINDAKİ İLİŞKİ: BOOTSTRAP PANEL NEDENSELLİK TESTİ

Dilek Şahin

doi:10.29029/busbed.389932

Research Article

THE RELATIONSHIP BETWEEN ECONOMIC FREEDOMS AND FOREIGN DİRECT INVESTMENTS IN BRICS-T COUNTRIES: BOOSTRAP PANEL CAUSALITY TEST

Year 2018, Volume: 8 Issue: 16, 285 - 294, 01.10.2018

Dilek Şahin

https://doi.org/10.29029/busbed.389932

Cited By: 13

Abstract

The purpose of this study is to examine the relationship among foreign direct
investments, economic freedoms and economic growth in BRICS-T countries using
data for the period of 1995-2014.
To this end, after conducting cross-sectional dependence and heterogeneity tests,
the paper employs the bootstrap panel causality test developed by Kónya (2006).
It was observed causality from economic freedoms to foreign direct investment
was seen only in Turkey. It was also confirmed that the causality from economic
growth to foreign direct investment was found only in South Africa. No causality
relationship was found in other countries

Keywords

Economic Freedom, BRICS-T Countries, Panel Data Analysis, Panel Data Analysis

References

Panahi, Hossein., Assadzadeh, Ahmad., Refaei, Ramiar. (2014). “Economic Freedom and Economic Growth in Mena Countries”. Asian Economic and Financial Review, 4(1):105-116.
Pearson, Dennis., Nyonna, Dong., Kim, Kil-Joong. (2012). “The Relationship Between Economic Freedom, State Growth and Foreign Direct Investment in US States”. International Journal of Economics and Finance, 4(10): 1-7.
Pesaran, M.Hashem, Yamagata, Takashi (2008). “Testing Slope Homogeneity in Large Panels.” Journal of Econometrics, 142:50-93.
Pesaran, M.Hashem, Ullah, Aaman, Yamagata, Takash (2008). “A Bias-adjusted LM Test of Error Cross-Section Independence”. Econometrics Journal, 11:105-127.
Quazi, Rahim (2007). “Economic Freedom and Foreign Direct Investment in East Asia”. Journal of the Asia Pacific Economy, 12(3): 329-344.
Quazi, Rahim. (2014). “Corruption and Foreign Direct Investment in East Asia and South Asia: An Econometric Study”. International Journal of Economics and Financial Issues, 4(2): 231-242.
Saray, Ozan. (2011). “Doğrudan Yabancı Yatırımlar-İstihdam İlişkisi: Türkiye Örneği”. Maliye Dergisi, 161: 381-403.
Tunçsiper, Bedriye., Biçen, Ömer Faruk. (2014). Ekonomik Özgürlükler ve Ekonomik Büyüme Arasındaki İlişkinin Panel Regresyon Yöntemiyle İncelenmesi”. Eskişehir Osmangazi Üniversitesi İİBF Dergisi, 9(2): 25-45.
Türen, Ufuk., Gökmen, Yunus., Dilek, Hakan. (2011). “Ekonomik Özgürlük Endeksinin Yurt Dışına Doğrudan Yabancı Yatırım Yapan Türk Sermayesinin Ülke Seçim Kararına Etkisi Var mıdır?” Maliye Dergisi, 161: 298-325.
Yenipazarlı, Aslı. (2009). Ekonomik Özgürlükler ve Ekonomik Büyüme Üzerine Etkisi: Türkiye Üzerine Bir Zaman Serisi Analizi. Adnan Menderes Üniversitesi Sosyal Bilimler Enstitüsü Doktora Tezi.
Abala, Daniel. (2014). “Foreign Direct Investment And Economic Growth: An Empirical Analysis Of Kenyan Data”. DBA Africa Management Review, 4(1): 62-83. Ajide, Kazeem. (2014). “Determinants of Economic Growth in Nijeria”. CBN Journal of Applied Statistics, 5(2): 147-170.
Zghidi, Nahed., Sghaier, Imen., Abida, Zouheir. (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.
Anwar, Amar., Mughal, Mazhar. (2012). “Economic Freedom and Indian Outward Foreign Direct Investment: An Empirical Analysis”. Economics Bulletin, 32(4): 2991-3007.
Badri, Arash., Sheshgelanib, Aidin (2017). “Economic Freedom and FDI in Selected Developing Countries”. International Journal of Economics and Financial Research, 2(5): 82-87.
Beheshtitabar, Elham., Irgaliyev, Asset. (2008). “The Impact of Economic Freedom on FDI Inflows to Developing Countries: The Case of the Middle East.” Jönköpinginternational Business School Jönköping University.
Bengoa, Marta., Robles, Blanca. (2003). “Foreign Direct Investment, Economic Freedom and Growth: New Evidence from Latin America”. European Journal of Political Economy, 19: 529-545.Caetano, Jose., Calerio, Antonia. (2009). “Economic Freedom and Foreign Direct Investment: How Different are the MENA Countries from the EU”. Business, 2009, 1: 65-74.
Hossain, Shakib (2016). “Foreign Direct Investment, Economic Freedom and Economic Growth: Evidence from Developing Countries”. International Journal of Economics and Finance, 8(11): 200-214.
Imtiaz, Sadia; Bashir, Malik (2017). “Economic Freedom and Foreign Direct Investment in South Asian Countries”. Theoretical and Applied Economics, 14(2): 281-294.
Kazemi, Morteza, Saini, Azman (2017). “Foreign Direct Investment, Economic Freedom and Democracy”. Int. Journal of Economics and Management, 11(1): 1 -15.
Konya, Laszlo. (2006). “Exports and Growth: Granger Causality Analysis on OECD Countries with a Panel Data Approach”. Economic Modeling, 23: 978-992.

BRICS-T ÜLKELERİNDE EKONOMİK ÖZGÜRLÜKLER VE DOĞRUDAN YABANCI SERMAYE YATIRIMLARI ARASINDAKİ İLİŞKİ: BOOTSTRAP PANEL NEDENSELLİK TESTİ

Year 2018, Volume: 8 Issue: 16, 285 - 294, 01.10.2018

Dilek Şahin

https://doi.org/10.29029/busbed.389932

Cited By: 13

Abstract

Bu çalışmanın amacı, 1995-2014 dönemine ait verileri kullanarak BRICS-T
ülkelerinde doğrudan yabancı sermaye yatırımları, ekonomik özgürlükler ve ekonomik
büyüme arasındaki ilişkiyi incelemektir. Bu amaç doğrultusunda, çalışmada
yatay kesit bağımlılığı ve heterojenlik testlerinin ardından Kónya (2006) tarafından
geliştirilen bootstrap panel nedensellik analizi kullanmıştır. Ekonomik özgürlüklerden
doğrudan yabancı sermaye yatırımlarına doğru nedenselliğin sadece
Türkiye’de bulunduğu görülmüştür. Ekonomik büyümeden doğrudan yabancı sermaye
yatırımlara doğru nedenselliğin ise sadece Güney Afrika’da bulunduğu tespit
edilmiştir. Diğer ülkelerde herhangi bir nedensellik ilişkisine rastlanmamıştır.

Keywords

Ekonomik Özgürlükler, BRICS-T Ülkeleri, Panel Veri Analizi

References

Panahi, Hossein., Assadzadeh, Ahmad., Refaei, Ramiar. (2014). “Economic Freedom and Economic Growth in Mena Countries”. Asian Economic and Financial Review, 4(1):105-116.
Pearson, Dennis., Nyonna, Dong., Kim, Kil-Joong. (2012). “The Relationship Between Economic Freedom, State Growth and Foreign Direct Investment in US States”. International Journal of Economics and Finance, 4(10): 1-7.
Pesaran, M.Hashem, Yamagata, Takashi (2008). “Testing Slope Homogeneity in Large Panels.” Journal of Econometrics, 142:50-93.
Pesaran, M.Hashem, Ullah, Aaman, Yamagata, Takash (2008). “A Bias-adjusted LM Test of Error Cross-Section Independence”. Econometrics Journal, 11:105-127.
Quazi, Rahim (2007). “Economic Freedom and Foreign Direct Investment in East Asia”. Journal of the Asia Pacific Economy, 12(3): 329-344.
Quazi, Rahim. (2014). “Corruption and Foreign Direct Investment in East Asia and South Asia: An Econometric Study”. International Journal of Economics and Financial Issues, 4(2): 231-242.
Saray, Ozan. (2011). “Doğrudan Yabancı Yatırımlar-İstihdam İlişkisi: Türkiye Örneği”. Maliye Dergisi, 161: 381-403.
Tunçsiper, Bedriye., Biçen, Ömer Faruk. (2014). Ekonomik Özgürlükler ve Ekonomik Büyüme Arasındaki İlişkinin Panel Regresyon Yöntemiyle İncelenmesi”. Eskişehir Osmangazi Üniversitesi İİBF Dergisi, 9(2): 25-45.
Türen, Ufuk., Gökmen, Yunus., Dilek, Hakan. (2011). “Ekonomik Özgürlük Endeksinin Yurt Dışına Doğrudan Yabancı Yatırım Yapan Türk Sermayesinin Ülke Seçim Kararına Etkisi Var mıdır?” Maliye Dergisi, 161: 298-325.
Yenipazarlı, Aslı. (2009). Ekonomik Özgürlükler ve Ekonomik Büyüme Üzerine Etkisi: Türkiye Üzerine Bir Zaman Serisi Analizi. Adnan Menderes Üniversitesi Sosyal Bilimler Enstitüsü Doktora Tezi.
Abala, Daniel. (2014). “Foreign Direct Investment And Economic Growth: An Empirical Analysis Of Kenyan Data”. DBA Africa Management Review, 4(1): 62-83. Ajide, Kazeem. (2014). “Determinants of Economic Growth in Nijeria”. CBN Journal of Applied Statistics, 5(2): 147-170.
Zghidi, Nahed., Sghaier, Imen., Abida, Zouheir. (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.
Anwar, Amar., Mughal, Mazhar. (2012). “Economic Freedom and Indian Outward Foreign Direct Investment: An Empirical Analysis”. Economics Bulletin, 32(4): 2991-3007.
Badri, Arash., Sheshgelanib, Aidin (2017). “Economic Freedom and FDI in Selected Developing Countries”. International Journal of Economics and Financial Research, 2(5): 82-87.
Beheshtitabar, Elham., Irgaliyev, Asset. (2008). “The Impact of Economic Freedom on FDI Inflows to Developing Countries: The Case of the Middle East.” Jönköpinginternational Business School Jönköping University.
Bengoa, Marta., Robles, Blanca. (2003). “Foreign Direct Investment, Economic Freedom and Growth: New Evidence from Latin America”. European Journal of Political Economy, 19: 529-545.Caetano, Jose., Calerio, Antonia. (2009). “Economic Freedom and Foreign Direct Investment: How Different are the MENA Countries from the EU”. Business, 2009, 1: 65-74.
Hossain, Shakib (2016). “Foreign Direct Investment, Economic Freedom and Economic Growth: Evidence from Developing Countries”. International Journal of Economics and Finance, 8(11): 200-214.
Imtiaz, Sadia; Bashir, Malik (2017). “Economic Freedom and Foreign Direct Investment in South Asian Countries”. Theoretical and Applied Economics, 14(2): 281-294.
Kazemi, Morteza, Saini, Azman (2017). “Foreign Direct Investment, Economic Freedom and Democracy”. Int. Journal of Economics and Management, 11(1): 1 -15.
Konya, Laszlo. (2006). “Exports and Growth: Granger Causality Analysis on OECD Countries with a Panel Data Approach”. Economic Modeling, 23: 978-992.

There are 20 citations in total.

Details

Primary Language	Turkish
Subjects	Economics
Journal Section	Articles
Authors	Dilek Şahin 0000-0002-4830-8106
Publication Date	October 1, 2018
Published in Issue	Year 2018Volume: 8 Issue: 16

Cite

APA	Şahin, D. (2018). BRICS-T ÜLKELERİNDE EKONOMİK ÖZGÜRLÜKLER VE DOĞRUDAN YABANCI SERMAYE YATIRIMLARI ARASINDAKİ İLİŞKİ: BOOTSTRAP PANEL NEDENSELLİK TESTİ. Bingöl Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 8(16), 285-294. https://doi.org/10.29029/busbed.389932