THE EFFECT OF ECONOMIC RISK FACTORS ON FOREIGN DIRECT INVESTMENTS INFLOWS: A RESEARCH ON TURKIC WORLD

Saffet Akdağ; Ömer İskenderoğlu

Makale detayları

THE EFFECT OF ECONOMIC RISK FACTORS ON FOREIGN DIRECT INVESTMENTS INFLOWS: A RESEARCH ON TURKIC WORLD

Yazarlar:

Saffet Akdağ | Ömer İskenderoğlu

Yayıncı:

Karamanoglu Mehmetbey University

Ana Başlıklar:

Ekonomi Politik Teorisi | Finansal Ekonomi

Dergi:

Karamanoğlu Mehmetbey Üniversitesi Sosyal Ve Ekonomik Araştırmalar Dergisi Vol.27 Issue 48, pp.16-31

Belge Tipi:

Makale

Yayın Tarihi:

4/2025

Belge Dili:

İngilizce

Document ID (Org No.):

2001345587

pISSN:

2147-7833

Anahtar kelimeler:

Özet:

 The movement of capital among countries economies in its favor accounts for international capital mobility which can be realized in the form of direct and indirect investments. It is accepted that the most important factors determining the attractiveness of foreign direct investment are economic  political stability. In this study, causality relationships between the net foreign direct capital inflows FDI of countries such as Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Türkiye, Turkmenistan, and Uzbekistan and economic policy uncertainty index EPU, uncertainty index WUI, geopolitical risk index GPR, as well as fear indexes VIX are examined using the Granger causality methods. Then, Breitung and Candelon frequency causality analysis was used to determine whether the causality relationship between the variables is permanent or temporary. Analyzes were carried out using annual frequency data between 1993-2021. According to the results of the study, different country-specific causality relationships were determined.

 The movement of capital among countries economies in its favor accounts for international capital mobility which can be realized in the form of direct and indirect investments. It is accepted that the most important factors determining the attractiveness of foreign direct investment are economic  political stability. In this study, causality relationships between the net foreign direct capital inflows FDI of countries such as Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Türkiye, Turkmenistan, and Uzbekistan and economic policy uncertainty index EPU, uncertainty index WUI, geopolitical risk index GPR, as well as fear indexes VIX are examined using the Granger causality methods. Then, Breitung and Candelon frequency causality analysis was used to determine whether the causality relationship between the variables is permanent or temporary. Analyzes were carried out using annual frequency data between 1993-2021. According to the results of the study, different country-specific causality relationships were determined.

 The movement of capital among countries economies in its favor accounts for international capital mobility which can be realized in the form of direct and indirect investments. It is accepted that the most important factors determining the attractiveness of foreign direct investment are economic  political stability. In this study, causality relationships between the net foreign direct capital inflows FDI of countries such as Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Türkiye, Turkmenistan, and Uzbekistan and economic policy uncertainty index EPU, uncertainty index WUI, geopolitical risk index GPR, as well as fear indexes VIX are examined using the Granger causality methods. Then, Breitung and Candelon frequency causality analysis was used to determine whether the causality relationship between the variables is permanent or temporary. Analyzes were carried out using annual frequency data between 1993-2021. According to the results of the study, different country-specific causality relationships were determined.

 Doğrudan ve dolaylı yatırım şeklinde gerçekleşebilen uluslararası sermaye hareketliliği ülke ekonomileri arasında sermayenin kendi lehine yer değiştirmesinin bir sonucudur. Doğrudan yabancı yatırımların çekiciliğini belirleyen en önemli faktörlerin ise ekonomikpolitik istikrar olduğu kabul edilmektedir. Bu çalışmada öncelikle Azerbaycan, Kazakistan, Kırgızistan, Tacikistan, Türkiye, Türkmenistan ve Özbekistan gibi ülkelerin net doğrudan yabancı sermaye girişleri FDI ile ekonomik politika belirsizlik endeksi EPU, küresel belirsizlik endeksi WUI, jeopolitik risk endeksi GPR ve korku endeksi VIX arasındaki nedenselliğin varlığı Granger nedensellik analizi ile test edilmiştir. Daha sonra ise değişkenler arasındaki kalıcı mı yoksa geçici mi nedensellik ilişkisinin olduğunu tespit etmek amacıyla Breitung ve Candelon frekans nedensellik analizi kullanılmıştır. Çalışma 1993-2021 tarihleri arasında yıllık frekans verilerinden yararlanılarak analizler gerçekleştirilmiştir. Çalışma sonuçlarına göre ülkeye özgü farklı nedensellik ilişkileri tespit edilmiştir.

Makale detayları

THE EFFECT OF ECONOMIC RISK FACTORS ON FOREIGN DIRECT INVESTMENTS INFLOWS: A RESEARCH ON TURKIC WORLD

Yazarlar:

Saffet Akdağ | Ömer İskenderoğlu

Yayıncı:

Karamanoglu Mehmetbey University

Ana Başlıklar:

Ekonomi Politik Teorisi | Finansal Ekonomi

Dergi:

Karamanoğlu Mehmetbey Üniversitesi Sosyal Ve Ekonomik Araştırmalar Dergisi Vol.27 Issue 48, pp.16-31

Belge Tipi:

Makale

Yayın Tarihi:

4/2025

Belge Dili:

İngilizce

Document ID (Org No.):

2001345587

pISSN:

2147-7833

Uncertainty and Risks

Causality Analysis

Foreign Capital InflowsBelirsizlik ve Riskler

Nedensellik Analizi

Yabancı Sermaye Girişleri

Sayı

Makale detayları

THE EFFECT OF ECONOMIC RISK FACTORS ON FOREIGN DIRECT INVESTMENTS INFLOWS: A RESEARCH ON TURKIC WORLD

Yazarlar: Saffet Akdağ | Ömer İskenderoğlu

Yayıncı: Karamanoglu Mehmetbey University

Ana Başlıklar: Ekonomi Politik Teorisi | Finansal Ekonomi

Dergi: Karamanoğlu Mehmetbey Üniversitesi Sosyal Ve Ekonomik Araştırmalar Dergisi Vol.27 Issue 48, pp.16-31

Belge Tipi: Makale

Yayın Tarihi: 4/2025

Belge Dili: İngilizce

Document ID (Org No.): 2001345587

pISSN: 2147-7833

Uncertainty and Risks

Causality Analysis

Foreign Capital InflowsBelirsizlik ve Riskler

Nedensellik Analizi

Yabancı Sermaye Girişleri

Sayı

Yazarlar:

Saffet Akdağ | Ömer İskenderoğlu

Yayıncı:

Karamanoglu Mehmetbey University

Ana Başlıklar:

Ekonomi Politik Teorisi | Finansal Ekonomi

Dergi:

Karamanoğlu Mehmetbey Üniversitesi Sosyal Ve Ekonomik Araştırmalar Dergisi Vol.27 Issue 48, pp.16-31

Belge Tipi:

Makale

Yayın Tarihi:

4/2025

Belge Dili:

İngilizce

Document ID (Org No.):

2001345587

pISSN:

2147-7833