Buradasınız

Foreign Direct Investment and Economic Growth: A Time Series Analysis of Turkey, 1979-2011

Doğrudan Yabancı Yatırımlar ve Ekonomik Büyüme: Türkiye Üzerine Zaman Serisi Analizi, 1979-2011

Journal Name:

Publication Year:

Author NameUniversity of Author
Abstract (2. Language): 
Bu çalışmada Türkiye için doğrudan yabancı yatırımlarla (DYY) ekonomik büyüme arasındaki ilişki zaman serisi analizi kullanılarak incelenmektedir. Bu çalışmadaki tüm analizlerde, Türkiye için 1979-2011 dönemini kapsayan doğrudan yabancı yatırımlar ve gayri safi yurtiçi hasılaya ait yıllık veriler kullanılmıştır. Zaman serisi verileri kullanılarak uygulanan ADF birim kök testi sonucuna göre değişkenlerin durağan olmadıkları fakat birinci fark değerlerinde durağan oldukları gözlenmiştir. Bununla birlikte, Johansen eşbütünleşme test sonucu iki serinin eşbütünleşik olduğunu ve DYY ile ekonomik büyüme arasında uzun dönemli pozitif bir ilişkinin devam ettiğini belirtmiştir. Granger nedensellik testi doğrudan yabancı yatırımlar ve ekonomik büyüme arasında iki yönlü nedensellik ilişkisinin olduğunu ortaya koymuştur.
Abstract (Original Language): 
This paper attempts to examine the causality relationship between foreign direct investment (FDI) and economic growth (GDPGR) in Turkey using the time-series techniques. All analyses are conducted with the annual data of foreign direct investment and real gross domestic product of Turkey over the period of 1979-2011. The results of the ADF unit root test show that the time-series variable are non-stationary atlevels, but become stationary in the first differences. Besides, the results of the Johansen co-integration test indicate that both series are co-integrated and a positive long-run relationship exists between FDI and GDPGR. Findings of the Granger-causality method suggest that there is a bi-directional causalitybetween them.
239
252

JEL Codes:

REFERENCES

References: 

Alagoz, M., Erdogan, S., & Topalli, N. (2008). Doğrudan Yabancı Sermaye Yatırımları ve Ekonomik Büyüme: Türkiye Deneyimi 1992‐2007. Journal of Social Science at Gaziantep University, 7(1), 79‐89.
Aitken, B., & Harrison, A. (1999). Do Domestic Firms Benefit from Foreign Direct Investment? Evidence from Venezuela. American Economic Review, 3, 605-18.
Alıcı, A.A., & Ucal, M.Ş. (2003). Foreign Direct Investment, Export and Output Growth of Turkey: Causality Analysis. Paperto be presented at the European Trade Study Group (ETSG) Fifth Annual Conference, Universidad Carlos III de Madrid, 11‐13.
Çankırı Karatekin Üniversitesi Çankırı Karatekin University
İktisadi ve İdari Bilimler Journal of the Faculty of Economics
Fakültesi Dergisi and Administrative Sciences
250
Antwi, S., Mills, E., Mills, G., & 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.
Aslanoglu, E. (2002). The Structure and the Impact of Foreign Direct Investment in Turkey. Journal of Faculty of Economics at Marmara University, 17(1), 31‐50.
Basu, P., Chakraborty, C., & Reagle, D. (2003). Liberalization, FDI and Growth in Developing Countries: A Panel Co-integration Approach, Economic Inquiry, 41(3), 510-516. Bhattarai K., & Ghatak, S. (2010). FDI, Investment and Growth in OECD Countries.Economics Discussion Paper, 2010/5, Kingston. Blomstrom, M., Robert, E.L., & Mario, Z. (1992). What Explains Developing Country Growth. NBER Working Paper 4132.
Bosworth, B., & Collins, S.M. (1999). Capital Inflows, Investment and Growth. Tokyo Club Papers,12,35-74.
Carkovic, M., & Ross, L. (2002). Does Foreign Direct Investment Accelerate Growth. MIMEO, University of Minnesota.
Dickey, D.A., & Fuller, W.A. (1979). Distributions of the Estimators for Autoregressive Time Series with a Unit Root. Journal of the American Statistical Association, 74, 427-431.
Dickey, D.A., Jansen, D.W., & Thornton, D.L. (1991). A Primer on Co-integration with an Application to Money and Income. Journal of Federal Reserve Bank of St. Louis, 58-78.
Ekinci, A. (2011). The Effect of Foreign Direct Investment on the Employment and Economic Growth: the Case of Turkey (1980‐2010). Journal of Economics and Administrative Sciences, Eskişehir Osmangazi University, 6(2), 71‐96.
Enders W. (2004). Applied Econometric Time Series. Second Edition, New Jersey: John Wiley & Sons, Inc.
Ericsson, J., & Irandoust, M. (2001). On the Causality between Foreign Direct Investment and Output: A Comparative Study. The International Trade Journal, 15(1), 1-26.
E.Dogan Güz/Fall 2013
Cilt 3, Sayı 2, ss.239-252 Volume 3, Issue 2, pp.239-252
251
Feldstein M., & Horioka, C. (1980). Domestic Saving and International Capital Flows. Economic Journal, 90(358), 314-329.
Feldstein M. (1995). The Effects of Outbound Foreign Direct Investment on the Domestic Capital Stock. NBER Working Paper No. 4668
Ford, T., Rork, J., & Elmslie, B. (2008). Foreign Direct Investment, Economic Growth, and the Human Capital Threshold: Evidence from US States. Review of International Economics, 16(1), 96-113. Ghatak, A. (1998). Aggregate Consumption Function for India: A Co-integration Analysis under Structural Changes 1919-1986. Journal of Applied Statistics, 25(4), 475-488. Granger, C.W.J. (1988). Some Recent developments in a Concepts of Causality. Journal of Econometrics, 39(1-2), 199-211. Granger, C.W.J., & Newbold, P. (1974). Spurious Regressions in Econometrics. Journal of Econometrics, 2, 111-120. Guidotti, P.E., & De Gregorio, J. (1992). Financial Development and Economic Growth. IMF Working Papers 92/101, International Monetary Fund.
Johansen, S. (1988). Statistical Analysis of Co-integration Vectors. Journal of Economic Dynamics and Control, 12(2-3), 231-254.
Johansen, S. (1991). Estimation and Hypothesis testing of Co-integration Vectors in Gaussian Vector Autoregressive Models. Econometrica, 59(6), 1551-1580.
Kahramanoglu, İ.E. (2009). Uluslararası Doğrudan Yatırımların Ekonomik Büyümeye Etkisi ve Ülkelerin Hazmetme Kapasitesi‐Türkiye Örneği. Expert Thesis of Undersecretaries of Treasury, 6800.
Mello, L.R. (1999). Foreign Direct Investment-Led Growth: Evidence from Time Series and Panel Data. Oxford Economic Papers, New Series, 51(1),133-151 Said, E., & Dickey, D.A. (1984). Testing for Unit Roots in Autoregressive Moving Average Models of Unknown Order. Biometrika, 71, 599-607.
Sen, A., & Saray, M.O. (2010). Türkiye’de Doğrudan Yabancı Sermaye Yatırımlarının Ekonomik Büyümeye Etkisi: Panel Veri Analizi. Journal of Academic Resources and Studies, 22‐30.
Çankırı Karatekin Üniversitesi Çankırı Karatekin University
İktisadi ve İdari Bilimler Journal of the Faculty of Economics
Fakültesi Dergisi and Administrative Sciences
252
Tarı, R. (2005). Ekonometri. 3th Edition, Istanbul: Publications of Kocaeli University, No: 172.
Umeora, C.E. (2013). Effects of Foreign Direct Investment (FDI) on Economic Growth in Nigeria. SSRN Working Papers (June 26, 2013)
UNCTAD. (1999). World Investment Report 1999. United Nations, New York and Geneva.
Wallis, K.F. (1968). The E.E.C. and United States Foreign Investment: Some Empirical Evidence Re-Examined. The Economic Journal, 78(311), 717-719.
Wang, M. (2009). Manufacturing FDI and Economic Growth: Evidence from Asian Economies. Applied Economics, 41, 991-1002.
Xu, B. (2000). Multinational Enterprises, Technology Diffusion and Host Country Productivity Growth. Journal of Development Economics, 62, 477-493.
Yilmaz, O., Kaya, V., & Akinci, M., (2011). The Effect of Foreign Direct Investment on Economic Growth in Turkey (1980-2008). Journal of Faculty of Economics, Atatürk University, 25(3-4), 13-30.
Yılmazer, M. (2010). Doğrudan Yabancı Yatırımlar, Dış Ticaret ve Ekonomik Büyüme İlişkisi: Türkiye Üzerine Bir Deneme. Journal of Social Science, Celal Bayar University, 8(1), 241-260. http://www.sundaytimes.lk/110529/Columns/eco.html http://www.data.worldbank.com

Thank you for copying data from http://www.arastirmax.com