Foreign Direct Investments to Türkiye within the Framework New Institutional Economics

Diğdem Pekcan

Makale detayları

Foreign Direct Investments to Türkiye within the Framework New Institutional Economics

Yazarlar:

Diğdem Pekcan

Yayıncı:

Hacettepe University

Ana Başlıklar:

Zaman Serileri Analizi | Kurumsal İktisat

Dergi:

Hacettepe Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi Vol.42 Issue 2, pp.267-293

Belge Tipi:

Makale

Yayın Tarihi:

6/2024

Belge Dili:

Türkçe

Document ID (Org No.):

2001320269

pISSN:

1301-8752

Anahtar kelimeler:

Özet:

 This study analyses the inward foreign direct investment in Türkiye from the perspective of the New Institutional Economics. The reasons for attracting less than the potential of foreign direct investments to Türkiye have been put forward based on arguments such as institutions, transaction costs, and property rights. It is for his reason that we have investigated the effect of institutional determinants on foreign direct investments in Türkiye. This study covers the period 1999-2021. The institutional variables are trade openness, inflation, human development index variables, governance indicators, civil liberties, and political rights. We have obtained the formal variables by applying the Principal Components Analysis to the institutional variables. In the study, we have created three different models for the relationship between formal institutions and foreign direct investments coming to Türkiye. We have used the ARDL bound test method in this study. We have found that the trade openness variable has a positive effect on foreign direct investment and it has a long-run relationship with formal institutions. We have determined that the inflation variable has a negative effect on foreign direct investments and has a long-term relationship with formal institutions. Examining the long-run coefficients, we find that formal institutions have a greater impact on foreign direct investments than both variables. We have determined that the human development index has a positive effect on foreign direct investments and it has a long-term relationship with formal institutions. The conclusion is that the human development index has a more significant impact on foreign direct investments than formal institutions.

 This study analyses the inward foreign direct investment in Türkiye from the perspective of the New Institutional Economics. The reasons for attracting less than the potential of foreign direct investments to Türkiye have been put forward based on arguments such as institutions, transaction costs, and property rights. It is for his reason that we have investigated the effect of institutional determinants on foreign direct investments in Türkiye. This study covers the period 1999-2021. The institutional variables are trade openness, inflation, human development index variables, governance indicators, civil liberties, and political rights. We have obtained the formal variables by applying the Principal Components Analysis to the institutional variables. In the study, we have created three different models for the relationship between formal institutions and foreign direct investments coming to Türkiye. We have used the ARDL bound test method in this study. We have found that the trade openness variable has a positive effect on foreign direct investment and it has a long-run relationship with formal institutions. We have determined that the inflation variable has a negative effect on foreign direct investments and has a long-term relationship with formal institutions. Examining the long-run coefficients, we find that formal institutions have a greater impact on foreign direct investments than both variables. We have determined that the human development index has a positive effect on foreign direct investments and it has a long-term relationship with formal institutions. The conclusion is that the human development index has a more significant impact on foreign direct investments than formal institutions.

 This study analyses the inward foreign direct investment in Türkiye from the perspective of the New Institutional Economics. The reasons for attracting less than the potential of foreign direct investments to Türkiye have been put forward based on arguments such as institutions, transaction costs, and property rights. It is for his reason that we have investigated the effect of institutional determinants on foreign direct investments in Türkiye. This study covers the period 1999-2021. The institutional variables are trade openness, inflation, human development index variables, governance indicators, civil liberties, and political rights. We have obtained the formal variables by applying the Principal Components Analysis to the institutional variables. In the study, we have created three different models for the relationship between formal institutions and foreign direct investments coming to Türkiye. We have used the ARDL bound test method in this study. We have found that the trade openness variable has a positive effect on foreign direct investment and it has a long-run relationship with formal institutions. We have determined that the inflation variable has a negative effect on foreign direct investments and has a long-term relationship with formal institutions. Examining the long-run coefficients, we find that formal institutions have a greater impact on foreign direct investments than both variables. We have determined that the human development index has a positive effect on foreign direct investments and it has a long-term relationship with formal institutions. The conclusion is that the human development index has a more significant impact on foreign direct investments than formal institutions.

 Bu çalışmada, Türkiyeye gelen doğrudan yabancı yatırımlar Yeni Kurumsal İktisat perspektifinde analiz edilmektedir. Türkiyeye gelen doğrudan yabancı yatırımların potansiyelinin altında kalma nedenlerinin; kurumlar, işlem maliyetleri, mülkiyet hakları gibi argümanlara dayandırılarak incelenmesi hedeflenmektedir. Bu nedenle kurumsal belirleyicilerin Türkiyeye gelen doğrudan yabancı yatırımlar üzerindeki etkisi araştırılmıştır. 1999-2021 yıllarını kapsayan bu çalışmada; dışa açıklık, enflasyon, insani gelişme endeksi değişkenleriyle birlikte yönetişim göstergeleri, sivil özgürlükler ve siyasi haklar da kurumsal değişkenler olarak yer almaktadır. Kurumsal değişkenlere Asal Bileşenler Analizi uygulanarak formel kurumlar değişkeni elde edilmiştir. Çalışmada, üç farklı model oluşturularak ARDL sınır testi yöntemiyle formel kurumlar ile Türkiyeye gelen doğrudan yabancı yatırımlar üzerindeki ilişki incelenmiştir. Buna göre dışa açıklık değişkenin doğrudan yabancı yatırımlar üzerinde pozitif bir etkiye sahip olduğu ve formel kurumlarla arasında uzun dönem ilişkisi olduğu tespit edilmiştir. Enflasyon değişkenin doğrudan yabancı yatırımlar üzerinde negatif bir etkiye sahip olduğu ve formel kurumlarla arasında uzun dönem ilişkisi olduğu tespit edilmiştir. Uzun dönem katsayıları incelendiğinde ise her iki değişkene kıyasla formel kurumların doğrudan yabancı yatırımlar üzerinde daha fazla etkiye sahip olduğu gözlenmektedir. İnsani gelişme endeksinin doğrudan yabancı yatırımlar üzerinde pozitif bir etkiye sahip olduğu ve formel kurumlar ile uzun dönem ilişkisi olduğu tespit edilmiştir. Ancak insani gelişme endeksinin doğrudan yabancı yatırımlar üzerinde daha etkili olduğu sonucuna ulaşılmaktadır.

Makale detayları

Foreign Direct Investments to Türkiye within the Framework New Institutional Economics

Yazarlar:

Diğdem Pekcan

Yayıncı:

Hacettepe University

Ana Başlıklar:

Zaman Serileri Analizi | Kurumsal İktisat

Dergi:

Hacettepe Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi Vol.42 Issue 2, pp.267-293

Belge Tipi:

Makale

Yayın Tarihi:

6/2024

Belge Dili:

Türkçe

Document ID (Org No.):

2001320269

pISSN:

1301-8752

New Insitutional Economics

Foreign Direct Investments

ARDL Bound TestYeni Kurumsal İktisat

Doğrudan Yabancı Yatırımlar

ARDL Sınır Testi

Sayı

Makale detayları

Foreign Direct Investments to Türkiye within the Framework New Institutional Economics

Yazarlar: Diğdem Pekcan

Yayıncı: Hacettepe University

Ana Başlıklar: Zaman Serileri Analizi | Kurumsal İktisat

Dergi: Hacettepe Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi Vol.42 Issue 2, pp.267-293

Belge Tipi: Makale

Yayın Tarihi: 6/2024

Belge Dili: Türkçe

Document ID (Org No.): 2001320269

pISSN: 1301-8752

New Insitutional Economics

Foreign Direct Investments

ARDL Bound TestYeni Kurumsal İktisat

Doğrudan Yabancı Yatırımlar

ARDL Sınır Testi

Sayı

Yazarlar:

Diğdem Pekcan

Yayıncı:

Hacettepe University

Ana Başlıklar:

Zaman Serileri Analizi | Kurumsal İktisat

Dergi:

Hacettepe Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi Vol.42 Issue 2, pp.267-293

Belge Tipi:

Makale

Yayın Tarihi:

6/2024

Belge Dili:

Türkçe

Document ID (Org No.):

2001320269

pISSN:

1301-8752