Research Article
BibTex RIS Cite

Siyasi ve Sosyo-Ekonomik Göstergelerin Doğrudan Yabancı Yatırımlara Etkisi: Stokastik Sınır Analizi

Year 2018, Volume: 7 Issue: 2, 1078 - 1096, 30.06.2018
https://doi.org/10.15869/itobiad.408540

Abstract

Bu çalışmada doğrudan yabancı
yatırımları etkileyen ekonomik faktörleri sosyal ve siyasi faktörlerle birlikte
modellemekteyiz.  Modele; ekonomik özgürlük endeksi, dışa açıklık
oranı, reel efektif döviz kuru endeksi, işgücünün dinamik yapısını görmek için
çalışma çağındaki nüfus, gayri safi yurtiçi hasıla, küresel emtia maliyetlerini
gözlemlemek için emtia fiyat endeksi, ekonominin altyapı seviyesini ölçmek için
nüfus içinde internet kullanımı sayısı ve enflasyon oranını yansıtan gayrisafi
yurtiçi hasıla deflatörü olmak üzere ekonomik göstergeler dahil edilirken
sosyal ve siyasal göstergelerin etkisini ölçmek için de demokrasi endeksi dahil
edilmektedir. Bu modellemeler ile çalışmanın amacı, seçilmiş ülkelerin doğrudan
yabancı yatırımlarına ekonomik, sosyal ve siyasal göstergelerin etkisini
belirlemektir. Amaca ulaşmak için çalışmanın uygulamasında stokastik sınır
analizi yöntemi kullanılmıştır. Elde edilen sonuçlardan hareketle
ülkelerin potansiyel yatırımlarından yararlanabilmesi ve bu potansiyelini daha
da arttırılabilmesi için doğrudan yabancı yatırımlar çerçevesinde politik önermelerde
bulunulmuştur.

References

  • Adams, S. (2010). “Intellectual Property Rights, Investment Climate and FDI in Developing Countries”, International Business Research, 3(3): 201-209.Aigner, D., Lovell, C. A. K., & Schmidt, P. (1977). Formulation And estimation Of Stochastic Frontier Production Function Models. Journal of Econometrics, 6(1), 21–37. http://doi.org/10.1016/0304-4076(77)90052-5
  • Alexander, J. S. (2014). “Foreign Direct Investment, the Rule of Law, and the New Institutionalism: Explaining FDI in the Developing World”, Annual Meeting of the American Political Science Association, pp.1-49.
  • Ang, James B.(2008) “Determinants of foreign direct investment in Malaysia”, Journal of Policy Modeling, 30, pp.185–189.
  • Anyanwu, J. C. (2012). “Why Does Foreign Direct Investment Go Where It Goes?: New Evidence From African Countries”, Annals of Economics and Finance, 13(2): pp.425-462.
  • Armutçuoğlu Tekin, H. & Şanlısoy, S. (2016) “Yabancı Patentlerin Doğrudan Yabancı Sermaye Yatırımları Üzerindeki Etkisi: 1974-2012 Türkiye Örneği” Kafkas Üniversitesi İktisadi ve İdari Bilimler Fakültesi (KAÜİİBFD) Cilt, 7, Sayı 12, ISSN: 1309 – 4289 E – ISSN: 2149-9136, pp.65-88.
  • Azam, M. & Khattak, N. R. (2009). “Social and Political Factors Effects on Foreign Direct Investment in Pakistan (1971-2005)”, Gomal University Journal of Research, 25(1): 46-50.
  • Battese, G. E., & Coelli, T. J. (1988). Prediction of firm-level technical efficiencies with a generalized frontier production function and panel data. Journal of econometrics, 38(3), pp.387-399.
  • Battese, G. E., & Coelli, T. J. (1992). Frontier production functions, technical efficiency and panel data: With application to paddy farmers in India. Journal of Productivity Analysis, 3(1-2), pp.153–169. http://doi.org/10.1007/BF00158774
  • Battese, G. E., & Coelli, T. J. (1995). A model for technical inefficiency effects in a stochastic frontier production function for panel data. Empirical Economics, 20(2), pp.325–332. http://doi.org/10.1007/BF01205442
  • Berkoz, Lale & Turk, Sevkiye Sence (2007), “Yabancı yatırımların yerseçimini etkileyen faktörler: Türkiye örneği”, itüdergisi/a mimarlık, planlama, tasarım, Cilt:6 (2), pp.59–72.
  • Bevan, Alan A. & Saul Estrin (2000), “The Determinants of Foreign Direct Investment in Transition Economies” , William Davidson Institute Working Paper, No.342, October 2000.
  • Bevan, Alan A., & Estrin, Saul (2004), “The determinants of foreign direct investment into European transition economies”, Journal of Comparative Economics 32, pp. 775–787.
  • Blonigen, Bruce A. (2005), “Revıew Of The Empırıcal Lıterature On Fdı Determınants”, NBER Working Paper Serıes, 11299, pp. 1–37.
  • Brady, D & Wallace, M. (2000), “Spatialization, Foreign Direct Investment and Labor Outcomes in the American States, 1978–1996,” Social Forces, The University of North Carolina Press, 79(1), pp.67–99.
  • Büthe, T. & Milner, H. V. (2008). “The Politics of Foreign Direct Investment into Developing Countries: Increasing FDI through International Trade Agreements?”, American Journal of Political Science, 52(4): pp.741–762.
  • Chakrabarti, Avik (2001), “The Determinants of Foreign Direct Investment: Sensitivity Analyses of CrossCountry Regressions”, KYKLOS, Vol. 54, 1, pp.89–114.
  • Cornwell, C., Schmidt, P., & Sickles, R. C. (1990). Production frontiers with cross-sectional and time-series variation in efficiency levels. Journal of Econometrics, 46(1-2), 185–200. http://doi.org/10.1016/0304-4076(90)90054-W
  • Coşkun, Recai (2001), “Determinants of Direct Foreign Investment in Turkey”, European Business Review, Vol.13, No. 4, pp. 221–226.
  • Culem, C.G. (1988), “The Locational Determinants of Direct Investments Among Industrialized Countries”, European Economic Review, 32, pp. 885–904.
  • Deichmann, J. I. (2001),“Distribution of foreign direct investment among transition economies in central and eastern Europe”, Post-Soviet Geography and Economics, 42, pp.142–52.
  • Dhar, B. & Joseph, R. (2012). “Foreign Direct Investment, Intellectual Property Rights and Technology Transfer: The North-South and The South-South Dimension”, UNCTAD Background Paper, 6: pp.1-32.
  • Drabek, Z. & Payne, W. (1999-2002). “The impact of transparency on foreign direct investment”, Staff Working Paper EAR, 99(02): pp.1-27.
  • Dunning, J.H. (1981), “Explaining the International Direct Investment Position of Countries: Towards a Dynamic or Developmental Approach”, Weltwirtschaftliches Archiv, 117, pp. 30–64.
  • Dunning, J.H. (1993), Multinational Enterprise and the Global Economy, Addison Wesley, Wokingham.
  • Dunning, J.H. (1994), “Re-evaluating the benefits offoreign direct investment”, Transnational Corporations, Vol. 3, No. 1, pp. 23–51.
  • Ekinci, R & Kök, R . (2017). Rekabet ve Etkinlik: Avrupa Birliği Bankacılık Endüstrisi Üzerine Bir Uygulama. Çankırı Karatekin Üniversitesi İİBF Dergisi, 7 (2), 171-200.
  • Erdal, Fuat & Tatoglu, Ekrem (2002), “Locatıonal Determınants of Foreıgn Dırect Investment in An Emergıng Market Economy: Evıdence From Turkey”, Multinational Business Review, Vol.10, No.1, , pp.1–7.
  • Gedik, M. A. (2013). “Determinants of Foreign Direct Investment for OECD Countries: Evidence from Dynamic Panel Data Analysis”, British Journal of Economics, Finance and Management Sciences, 7(2): 119-140.
  • Ghumro, Akhtiar Ahmed & Hakro, Ahmed Nawaz (2007), “Foreign Direct Investment, Determinants And Policy Analysis: Case Study of Pakistan”, University of Glasgow’s Working Papers, No.04.
  • Hisarcıklılar, M., Gültekin-Karakaş, D. & Aşıcı A.A. (2009), “Can FDI Be A Panacea For Unemployment? The Turkish Case”, Workshop on Labour Markets, Tade and FDI, Istanbul Technical University, October, İstanbul, http://www.esam.itu.edu.tr/NottinghamWorkshopPapers/Hisarciklilar-KarakasAsici-NW.pdf.
  • Holland, D. & Pain N. (1998), "The determinants and impact of foreign direct investment in the transition economies", Centre for Research into East European Business, (Eds),V. Edwards, University of Buckingham, Buckingham, , pp.1-23.
  • Janıckı, Hubert P. & Wunnava, Phanındra V.(2004), “Determinants of foreign direct investment:empirical evidence from EU accession candidates”, Applied Economics, 36, pp.505–509.
  • Jondrow, J., Knox Lovell, C. A., Materov, I. S., & Schmidt, P. (1982). On the estimation of technical inefficiency in the stochastic frontier production function model. Journal of Econometrics, 19(2-3), 233–238. http://doi.org/10.1016/0304-4076(82)90004-5
  • Julıo, P., Alves, R. P. & Tavares, J. (2011). “Economic and Institutional Determinants of FDI: An Application to the Portuguese Case, Conjuntura 5: 1-38.
  • Kalirajan, K. P., & Shand, R. T. (1999). Frontier production functions and technical efficiency measures. Journal of Economic surveys, 13(2), 149-172.
  • Kar, Muhsin & Tatlısöz, Fatma (2008), “Türkiye’de Doğrudan Yabancı Sermaye Hareketlerini Belirleyen Faktörlerin Ekonometrik Analizi” KMU İİBF Dergisi, Yıl.10, sayı 14
  • Karaege, Murat (2006), “Development and determinants of foreign direct investment in Turkey: a comperative analysis with the EU countries”, Yayımlanmamış Yüksek Lisans Tezi, Sabancı Üniversitesi.
  • Kariuki, C. (2015). The determinants of foreign direct investment in the African Union. Journal of Economics, Business and Management, Volume ,3 Issue 3, pp. 346-351.
  • Kenedy, K. C. (2001). “Foreign Direct Investment and Competition Policy at the World Trade Organization”, The Geo. Wash. Int'l L. Rev., 33: 585-650.
  • Kımıno, S., Saal, D. S. & Drıffıeld, N. (2007). “Macro Determinants of FDI Inflows to Japan: An Analysis of Source Country Characteristics”, The World Economy, Blackwell Publishing, 446-469.
  • Kim, Sung Yeon (2010), “Is Foreign Language Classroom Anxiety Context Free or Context Dependent?”, DOI:10.1111/j.1944-9720.2010.01073.x, Volume 43, Issue 2, Pp. 187–189, http://onlinelibrary.wiley.com/doi/10.1111/j.1944-9720.2010.01073.x, Erişim Tarihi: 02.08.2017
  • Klerman, D. M. (2007). “Legal Infrastructure, Judicial Independence, and Economic Development”, Global Business & Development Law Journal, 19: 427-434.
  • Kumbhakar, S. C. (1990). Production frontiers, panel data, and time-varying technical inefficiency. Journal of Econometrics, 46(1-2), 201–211. http://doi.org/10.1016/0304-4076(90)90055-X
  • Kumbhakar, S. C., & Wang, H. J. (2005). Estimation of growth convergence using a stochastic production frontier approach. Economics Letters, 88(3), 300-305.
  • Kumbhakar, S. C., Ghosh, S., & McGuckin, J. T. (1991). A generalized production frontier approach for estimating determinants of inefficiency in US dairy farms. Journal of Business & Economic Statistics, 9(3), 279-286.
  • Kumbhakar, S. C., Ortega-Argilés, R., Potters, L., Vivarelli, M., & Voigt, P. (2012). Corporate R&D and firm efficiency: evidence from Europe’s top R&D investors. Journal of Productivity Analysis, 37(2), 125-140.
  • Lee, Y. H., & Schmidt, P. (1993). A production frontier model with flexible temporal variation in technical efficiency. The measurement of productive efficiency: Techniques and applications, 237-255.
  • Lim, Ewe Ghee (2001), “Determinants of, and the Relation Between, Foreign Direct Investment and Growth A Summary of the Recent Literature”, IMF Working Paper, No. 01/175, November, pp.1–27.
  • Lipsey, Robert E. (2000), “Interpreting Developed Countries’ Foreign Direct Investment”, National Bureau of Economic Research, Working Paper No: 7810, pp.1–24.
  • Martınez, C. A. & Allard, G. (2009). “Foreign Direct Investment and Social Policy: The Links in Developing Countries”, FDI and Social Policy, 11: 77-112.
  • Meeusen, W., & Broeck., J. van Den. (1977). Efficiency Estimation from Cobb-Douglas Production Functions with Composed Error. International Economic Review, 18(2), 435–444. http://doi.org/10.1080/00420986820080431
  • Nunnenkamp, Peter (2002), “Determinants of FDI in Developing Countries: Has Globalization Changed the Rules of the Game”, Kiel Working Paper, No.1122, pp.1–44.
  • OECD (1996), Benchmark Definition of Foreign Direct Investment, Third Edition, Paris.
  • Onyeiwu, Steve & Shrestha, Hemanta (2004), “Determinants of Foreign Direct Investment in Africa”, Journal of Developing Societies, 20 (12),89, pp. 90–106.
  • Oransay Gürçem & Faruk Mike. (2016), AN ANALYSIS ON SOCIO-POLITICAL DETERMINANTS OF DIRECT FOREIGN INVESTMENTS, Journal of Academic Research and Studies, Year:2016, volume:8, No:14, pp: 97-107.
  • Önder, A. Ö., DELIKTAS, E. R., & Lenger, A. (2003). Efficiency in the manufacturing industry of selected provinces in Turkey: a stochastic frontier analysis. Emerging Markets Finance and Trade, 39(2), 98-113.
  • Özcan Burcu & Ayşe ARI, (2010), “AN ANALYSIS ON DIRECT FOREIGN INVESTORS 'DETERMINANTS: OECD SAMPLE”, Istanbul University Economics Faculty Econometrics and Statistics, No:12, Year: 2010,pp. 65–88.
  • Pitt, M. M., & Lee, L. F. (1981). The measurement and sources of technical inefficiency in the Indonesian weaving industry. Journal of Development Economics, 9(1), 43–64. http://doi.org/10.1016/0304-3878(81)90004-3
  • Primorac, D. & Smoljic, M. (2011). Impact of corruption on foreign direct ınvestment. Megatrend Review, 8 (2),169-190.
  • Root, F. & Ahmed, A. (1979), “Empirical Determinants of Manufacturing Direct Foreign Investment Developing Countries”, Economic Development and Cultural Change. 27, pp.751–767.
  • Schneıder, F. & Frey, B. S. (1985). “Economic and Political Determinants of Foreign Direct Investment”, World Develeopment, 13(2): 161-175.
  • Schneider, F. & Frey, B. (1985), “Economic and Political Determinants of ForeignDirect Investment,” World Development, Vol. 13, pp. 161–175.
  • Şanlısoy, Selim (2016), “Effects Of Knowledge Economy On The Internatıonal Income Dıstrıbutıon”, The Journal Of International Social Research Cilt: 9 Sayı: 43 Volume: 9 Issue: 43 Nisan 2016 April 2016. pp. 2185-2203
  • Torrisi, C.R. (1985), ‘The Determinants of Direct Foreign Investment in a Small LDC’, Journal of Economic Development, Vol. 10, No. 1, pp. 19–45.
  • Tuselmann, H.J. (1999), “German direct foreigninvestment in Eastern and Central Europe: relocation of German industry?’’, European Business Review, Vol. 99 No. 6.
  • Vergil, H. & Ayaş, N. (2009), “The Effects of Foreign Direct Investment on Employment: A Panel Data Analysis”, Economics Business and Finance, 24(275), pp.89-114.
  • Walsh, J. P. & YU, J. (2010). “Determinants of Foreign Direct Investment: A Sectoral and Institutional Approach”, IMF Working Paper, 10(87): pp.1-28.
  • Williams, D. (2003), “Explaining employment changes in foreign manufacturing investment in the UK”, International Business Review, 12(4), pp.479-497.
  • Zhang, N., Zhou, P., & Choi, Y. (2013). Energy efficiency, CO2 emission performance and technology gaps in fossil fuel electricity generation in Korea: A meta-frontier non-radial directional distance functionanalysis. Energy Policy, 56, 653–662. https://doi.org/10.1016/j.enpol.2013.01.033

Effects of Political and Socio-Economic Indicators on Foreign Direct Investments: Stochastic Frontier Analysis

Year 2018, Volume: 7 Issue: 2, 1078 - 1096, 30.06.2018
https://doi.org/10.15869/itobiad.408540

Abstract

In this framework, we model economic
factors affecting foreign direct investments together with social and political
factors. The model includes economic freedom index, openness rate, real
effective exchange rate, labor force population, gross domestic product, the
commodity price, which reflects global commodity costs, internet users in
population that pictures infrastructure level of economy, Gross Domestic
Product deflator for inflation rate besides democracy index to measure the
influence of social and political indicators. The purpose of working with these
models is to determine the influence of economic, social and political
indicators on foreign direct investment of selected countries. Stochastic
frontier analysis was used in the implementation to achieve the objectives of
the study. Proposals for policy implication have been made in the framework of
foreign direct investments in order to enable the countries to take advantage
of their potential investments and to increase this potential.

References

  • Adams, S. (2010). “Intellectual Property Rights, Investment Climate and FDI in Developing Countries”, International Business Research, 3(3): 201-209.Aigner, D., Lovell, C. A. K., & Schmidt, P. (1977). Formulation And estimation Of Stochastic Frontier Production Function Models. Journal of Econometrics, 6(1), 21–37. http://doi.org/10.1016/0304-4076(77)90052-5
  • Alexander, J. S. (2014). “Foreign Direct Investment, the Rule of Law, and the New Institutionalism: Explaining FDI in the Developing World”, Annual Meeting of the American Political Science Association, pp.1-49.
  • Ang, James B.(2008) “Determinants of foreign direct investment in Malaysia”, Journal of Policy Modeling, 30, pp.185–189.
  • Anyanwu, J. C. (2012). “Why Does Foreign Direct Investment Go Where It Goes?: New Evidence From African Countries”, Annals of Economics and Finance, 13(2): pp.425-462.
  • Armutçuoğlu Tekin, H. & Şanlısoy, S. (2016) “Yabancı Patentlerin Doğrudan Yabancı Sermaye Yatırımları Üzerindeki Etkisi: 1974-2012 Türkiye Örneği” Kafkas Üniversitesi İktisadi ve İdari Bilimler Fakültesi (KAÜİİBFD) Cilt, 7, Sayı 12, ISSN: 1309 – 4289 E – ISSN: 2149-9136, pp.65-88.
  • Azam, M. & Khattak, N. R. (2009). “Social and Political Factors Effects on Foreign Direct Investment in Pakistan (1971-2005)”, Gomal University Journal of Research, 25(1): 46-50.
  • Battese, G. E., & Coelli, T. J. (1988). Prediction of firm-level technical efficiencies with a generalized frontier production function and panel data. Journal of econometrics, 38(3), pp.387-399.
  • Battese, G. E., & Coelli, T. J. (1992). Frontier production functions, technical efficiency and panel data: With application to paddy farmers in India. Journal of Productivity Analysis, 3(1-2), pp.153–169. http://doi.org/10.1007/BF00158774
  • Battese, G. E., & Coelli, T. J. (1995). A model for technical inefficiency effects in a stochastic frontier production function for panel data. Empirical Economics, 20(2), pp.325–332. http://doi.org/10.1007/BF01205442
  • Berkoz, Lale & Turk, Sevkiye Sence (2007), “Yabancı yatırımların yerseçimini etkileyen faktörler: Türkiye örneği”, itüdergisi/a mimarlık, planlama, tasarım, Cilt:6 (2), pp.59–72.
  • Bevan, Alan A. & Saul Estrin (2000), “The Determinants of Foreign Direct Investment in Transition Economies” , William Davidson Institute Working Paper, No.342, October 2000.
  • Bevan, Alan A., & Estrin, Saul (2004), “The determinants of foreign direct investment into European transition economies”, Journal of Comparative Economics 32, pp. 775–787.
  • Blonigen, Bruce A. (2005), “Revıew Of The Empırıcal Lıterature On Fdı Determınants”, NBER Working Paper Serıes, 11299, pp. 1–37.
  • Brady, D & Wallace, M. (2000), “Spatialization, Foreign Direct Investment and Labor Outcomes in the American States, 1978–1996,” Social Forces, The University of North Carolina Press, 79(1), pp.67–99.
  • Büthe, T. & Milner, H. V. (2008). “The Politics of Foreign Direct Investment into Developing Countries: Increasing FDI through International Trade Agreements?”, American Journal of Political Science, 52(4): pp.741–762.
  • Chakrabarti, Avik (2001), “The Determinants of Foreign Direct Investment: Sensitivity Analyses of CrossCountry Regressions”, KYKLOS, Vol. 54, 1, pp.89–114.
  • Cornwell, C., Schmidt, P., & Sickles, R. C. (1990). Production frontiers with cross-sectional and time-series variation in efficiency levels. Journal of Econometrics, 46(1-2), 185–200. http://doi.org/10.1016/0304-4076(90)90054-W
  • Coşkun, Recai (2001), “Determinants of Direct Foreign Investment in Turkey”, European Business Review, Vol.13, No. 4, pp. 221–226.
  • Culem, C.G. (1988), “The Locational Determinants of Direct Investments Among Industrialized Countries”, European Economic Review, 32, pp. 885–904.
  • Deichmann, J. I. (2001),“Distribution of foreign direct investment among transition economies in central and eastern Europe”, Post-Soviet Geography and Economics, 42, pp.142–52.
  • Dhar, B. & Joseph, R. (2012). “Foreign Direct Investment, Intellectual Property Rights and Technology Transfer: The North-South and The South-South Dimension”, UNCTAD Background Paper, 6: pp.1-32.
  • Drabek, Z. & Payne, W. (1999-2002). “The impact of transparency on foreign direct investment”, Staff Working Paper EAR, 99(02): pp.1-27.
  • Dunning, J.H. (1981), “Explaining the International Direct Investment Position of Countries: Towards a Dynamic or Developmental Approach”, Weltwirtschaftliches Archiv, 117, pp. 30–64.
  • Dunning, J.H. (1993), Multinational Enterprise and the Global Economy, Addison Wesley, Wokingham.
  • Dunning, J.H. (1994), “Re-evaluating the benefits offoreign direct investment”, Transnational Corporations, Vol. 3, No. 1, pp. 23–51.
  • Ekinci, R & Kök, R . (2017). Rekabet ve Etkinlik: Avrupa Birliği Bankacılık Endüstrisi Üzerine Bir Uygulama. Çankırı Karatekin Üniversitesi İİBF Dergisi, 7 (2), 171-200.
  • Erdal, Fuat & Tatoglu, Ekrem (2002), “Locatıonal Determınants of Foreıgn Dırect Investment in An Emergıng Market Economy: Evıdence From Turkey”, Multinational Business Review, Vol.10, No.1, , pp.1–7.
  • Gedik, M. A. (2013). “Determinants of Foreign Direct Investment for OECD Countries: Evidence from Dynamic Panel Data Analysis”, British Journal of Economics, Finance and Management Sciences, 7(2): 119-140.
  • Ghumro, Akhtiar Ahmed & Hakro, Ahmed Nawaz (2007), “Foreign Direct Investment, Determinants And Policy Analysis: Case Study of Pakistan”, University of Glasgow’s Working Papers, No.04.
  • Hisarcıklılar, M., Gültekin-Karakaş, D. & Aşıcı A.A. (2009), “Can FDI Be A Panacea For Unemployment? The Turkish Case”, Workshop on Labour Markets, Tade and FDI, Istanbul Technical University, October, İstanbul, http://www.esam.itu.edu.tr/NottinghamWorkshopPapers/Hisarciklilar-KarakasAsici-NW.pdf.
  • Holland, D. & Pain N. (1998), "The determinants and impact of foreign direct investment in the transition economies", Centre for Research into East European Business, (Eds),V. Edwards, University of Buckingham, Buckingham, , pp.1-23.
  • Janıckı, Hubert P. & Wunnava, Phanındra V.(2004), “Determinants of foreign direct investment:empirical evidence from EU accession candidates”, Applied Economics, 36, pp.505–509.
  • Jondrow, J., Knox Lovell, C. A., Materov, I. S., & Schmidt, P. (1982). On the estimation of technical inefficiency in the stochastic frontier production function model. Journal of Econometrics, 19(2-3), 233–238. http://doi.org/10.1016/0304-4076(82)90004-5
  • Julıo, P., Alves, R. P. & Tavares, J. (2011). “Economic and Institutional Determinants of FDI: An Application to the Portuguese Case, Conjuntura 5: 1-38.
  • Kalirajan, K. P., & Shand, R. T. (1999). Frontier production functions and technical efficiency measures. Journal of Economic surveys, 13(2), 149-172.
  • Kar, Muhsin & Tatlısöz, Fatma (2008), “Türkiye’de Doğrudan Yabancı Sermaye Hareketlerini Belirleyen Faktörlerin Ekonometrik Analizi” KMU İİBF Dergisi, Yıl.10, sayı 14
  • Karaege, Murat (2006), “Development and determinants of foreign direct investment in Turkey: a comperative analysis with the EU countries”, Yayımlanmamış Yüksek Lisans Tezi, Sabancı Üniversitesi.
  • Kariuki, C. (2015). The determinants of foreign direct investment in the African Union. Journal of Economics, Business and Management, Volume ,3 Issue 3, pp. 346-351.
  • Kenedy, K. C. (2001). “Foreign Direct Investment and Competition Policy at the World Trade Organization”, The Geo. Wash. Int'l L. Rev., 33: 585-650.
  • Kımıno, S., Saal, D. S. & Drıffıeld, N. (2007). “Macro Determinants of FDI Inflows to Japan: An Analysis of Source Country Characteristics”, The World Economy, Blackwell Publishing, 446-469.
  • Kim, Sung Yeon (2010), “Is Foreign Language Classroom Anxiety Context Free or Context Dependent?”, DOI:10.1111/j.1944-9720.2010.01073.x, Volume 43, Issue 2, Pp. 187–189, http://onlinelibrary.wiley.com/doi/10.1111/j.1944-9720.2010.01073.x, Erişim Tarihi: 02.08.2017
  • Klerman, D. M. (2007). “Legal Infrastructure, Judicial Independence, and Economic Development”, Global Business & Development Law Journal, 19: 427-434.
  • Kumbhakar, S. C. (1990). Production frontiers, panel data, and time-varying technical inefficiency. Journal of Econometrics, 46(1-2), 201–211. http://doi.org/10.1016/0304-4076(90)90055-X
  • Kumbhakar, S. C., & Wang, H. J. (2005). Estimation of growth convergence using a stochastic production frontier approach. Economics Letters, 88(3), 300-305.
  • Kumbhakar, S. C., Ghosh, S., & McGuckin, J. T. (1991). A generalized production frontier approach for estimating determinants of inefficiency in US dairy farms. Journal of Business & Economic Statistics, 9(3), 279-286.
  • Kumbhakar, S. C., Ortega-Argilés, R., Potters, L., Vivarelli, M., & Voigt, P. (2012). Corporate R&D and firm efficiency: evidence from Europe’s top R&D investors. Journal of Productivity Analysis, 37(2), 125-140.
  • Lee, Y. H., & Schmidt, P. (1993). A production frontier model with flexible temporal variation in technical efficiency. The measurement of productive efficiency: Techniques and applications, 237-255.
  • Lim, Ewe Ghee (2001), “Determinants of, and the Relation Between, Foreign Direct Investment and Growth A Summary of the Recent Literature”, IMF Working Paper, No. 01/175, November, pp.1–27.
  • Lipsey, Robert E. (2000), “Interpreting Developed Countries’ Foreign Direct Investment”, National Bureau of Economic Research, Working Paper No: 7810, pp.1–24.
  • Martınez, C. A. & Allard, G. (2009). “Foreign Direct Investment and Social Policy: The Links in Developing Countries”, FDI and Social Policy, 11: 77-112.
  • Meeusen, W., & Broeck., J. van Den. (1977). Efficiency Estimation from Cobb-Douglas Production Functions with Composed Error. International Economic Review, 18(2), 435–444. http://doi.org/10.1080/00420986820080431
  • Nunnenkamp, Peter (2002), “Determinants of FDI in Developing Countries: Has Globalization Changed the Rules of the Game”, Kiel Working Paper, No.1122, pp.1–44.
  • OECD (1996), Benchmark Definition of Foreign Direct Investment, Third Edition, Paris.
  • Onyeiwu, Steve & Shrestha, Hemanta (2004), “Determinants of Foreign Direct Investment in Africa”, Journal of Developing Societies, 20 (12),89, pp. 90–106.
  • Oransay Gürçem & Faruk Mike. (2016), AN ANALYSIS ON SOCIO-POLITICAL DETERMINANTS OF DIRECT FOREIGN INVESTMENTS, Journal of Academic Research and Studies, Year:2016, volume:8, No:14, pp: 97-107.
  • Önder, A. Ö., DELIKTAS, E. R., & Lenger, A. (2003). Efficiency in the manufacturing industry of selected provinces in Turkey: a stochastic frontier analysis. Emerging Markets Finance and Trade, 39(2), 98-113.
  • Özcan Burcu & Ayşe ARI, (2010), “AN ANALYSIS ON DIRECT FOREIGN INVESTORS 'DETERMINANTS: OECD SAMPLE”, Istanbul University Economics Faculty Econometrics and Statistics, No:12, Year: 2010,pp. 65–88.
  • Pitt, M. M., & Lee, L. F. (1981). The measurement and sources of technical inefficiency in the Indonesian weaving industry. Journal of Development Economics, 9(1), 43–64. http://doi.org/10.1016/0304-3878(81)90004-3
  • Primorac, D. & Smoljic, M. (2011). Impact of corruption on foreign direct ınvestment. Megatrend Review, 8 (2),169-190.
  • Root, F. & Ahmed, A. (1979), “Empirical Determinants of Manufacturing Direct Foreign Investment Developing Countries”, Economic Development and Cultural Change. 27, pp.751–767.
  • Schneıder, F. & Frey, B. S. (1985). “Economic and Political Determinants of Foreign Direct Investment”, World Develeopment, 13(2): 161-175.
  • Schneider, F. & Frey, B. (1985), “Economic and Political Determinants of ForeignDirect Investment,” World Development, Vol. 13, pp. 161–175.
  • Şanlısoy, Selim (2016), “Effects Of Knowledge Economy On The Internatıonal Income Dıstrıbutıon”, The Journal Of International Social Research Cilt: 9 Sayı: 43 Volume: 9 Issue: 43 Nisan 2016 April 2016. pp. 2185-2203
  • Torrisi, C.R. (1985), ‘The Determinants of Direct Foreign Investment in a Small LDC’, Journal of Economic Development, Vol. 10, No. 1, pp. 19–45.
  • Tuselmann, H.J. (1999), “German direct foreigninvestment in Eastern and Central Europe: relocation of German industry?’’, European Business Review, Vol. 99 No. 6.
  • Vergil, H. & Ayaş, N. (2009), “The Effects of Foreign Direct Investment on Employment: A Panel Data Analysis”, Economics Business and Finance, 24(275), pp.89-114.
  • Walsh, J. P. & YU, J. (2010). “Determinants of Foreign Direct Investment: A Sectoral and Institutional Approach”, IMF Working Paper, 10(87): pp.1-28.
  • Williams, D. (2003), “Explaining employment changes in foreign manufacturing investment in the UK”, International Business Review, 12(4), pp.479-497.
  • Zhang, N., Zhou, P., & Choi, Y. (2013). Energy efficiency, CO2 emission performance and technology gaps in fossil fuel electricity generation in Korea: A meta-frontier non-radial directional distance functionanalysis. Energy Policy, 56, 653–662. https://doi.org/10.1016/j.enpol.2013.01.033
There are 69 citations in total.

Details

Primary Language English
Journal Section Articles
Authors

Memduh Alper Demir 0000-0002-9926-2611

Mustafa Bilik 0000-0003-4425-9316

Üzeyir Aydın 0000-0003-2777-6450

Publication Date June 30, 2018
Published in Issue Year 2018 Volume: 7 Issue: 2

Cite

APA Demir, M. A., Bilik, M., & Aydın, Ü. (2018). Effects of Political and Socio-Economic Indicators on Foreign Direct Investments: Stochastic Frontier Analysis. İnsan Ve Toplum Bilimleri Araştırmaları Dergisi, 7(2), 1078-1096. https://doi.org/10.15869/itobiad.408540

Journal of the Human and Social Science Researches is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License (CC BY NC).