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DOĞRUDAN YABANCI YATIRIMLARIN BELİRLEYİCİLERİ ÜZERİNE BİR ANALİZ: OECD ÖRNEĞİ

Year 2010, Issue: 12, 65 - 88, 17.03.2011

Burcu Özcan , Ayşe Arı

Abstract

Çok uluslu şirketler tarafından gerçekleştirilen doğrudan dış yatırım ya yeni bir tesis kurmak ya da halen mevcut bir şirketi satın almak biçiminde gerçekleştirilmektedir. Bu yatırımların dünyada yaygınlaşması 1950'lerin sonlarına rastlamaktadır. Sermayenin liberalleşmesi beraberinde ulus ötesi yatırımların hız kazanmasına yol açmıştır. Liberalleşen ulusal ekonomiler, ekonomik büyümeleri ve kalkınmaları yolunda, yabancı yatırımların taşıdıkları önemin farkına varmaya başlamışlardır. Bu nedenle mevcut pazar ortamlarını yabancı yatırımcılar için cazip hale getirmeyi amaçlayan çeşitli stratejiler ve politikalar uygulamaya başlamışlardır. Ülkeler yabancı yatırımcıları çekmek için artık birbirleriyle rekabet etmektedirler. Bu çalışmanın teorik kısmında doğrudan yabancı yatırımların önemi, belirleyicileri ve türleri açıklanmaktadır. Ampirik kısımda ise 27 OECD ülkesinde 1994-2006 döneminde DYY'yi belirleyen faktörler, dinamik panel veri analizi yöntemiyle, GMM tahmin tekniği kullanılarak sorgulanmıştır. Çalışma sonucunda, DYY'yi büyüme oranı, altyapı düzeyi ve enflasyonun pozitif olarak etkilediği görülmüştür. Açıklık ve cari denge değişkenlerinin ise teoride beklenenin aksine DYY ile negatif ilişkili olduğu saptanmıştır.

Keywords

Doğrudan yabancı yatırım çok uluslu şirketler itici ve çekici faktörler genelleştirilmiş momentler metodu dinamik panel veri analizi

References

  • Anderson, T. W. ve Hsiao, Cheng (1981), “Estimation of Dynamic Models with Error Components”, Journal of the American Statistical Association, 76 (375), pp. 598–606.
  • Ang, James B.(2008) “Determinants of foreign direct investment in Malaysia”, Journal of Policy Modeling, 30, pp.185–189.
  • Arellano, Manuel ve Bond, Stephen (1991), “Some Testsof Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations”, Review of Economic Studies, 58 (2), pp. 277–297.
  • Berkoz, Lale ve Turk, Sevkiye Sence (2009), “Locational Preferences of FDI Firms in Turkey: A Detailed Examination of Regional Determinants”, European Planning Studies, 17: 8, pp.1243 — 1256.
  • Berkoz, Lale ve 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.,ve Estrin, Saul (2004), “The determinants of foreign direct investment into European transition economies”, Journal of Comparative Economics 32, pp. 775–787.
  • Bevan, Alan A. ve Saul Estrin (2000), “The Determinants of Foreign Direct Investment in Transition Economies” , William Davidson Institute Working Paper, No.342, October 2000.
  • Blonigen, Bruce A. (2005), “Revıew Of The Empırıcal Lıterature On Fdı Determınants”, NBER Workıng Paper Serıes, 11299, pp. 1–37.
  • Botric, Valerija ve Skuflic, Lorena (2006), “Main Determınants Of Foreign Direct Investment In The South East European Countries”, Transition Studies Review, Vol.13, No.2, pp: 359–377.
  • Calvo, G.A., Leiderman, L. ve Reinhart, C.M. (1996), “Inflows of Capital to Developing Countries in the 1990s.”, Journal of Economic Perspectives, 10, pp.123–139.
  • Chakrabarti, Avik (2001), “The Determinants of Foreign Direct Investment: Sensitivity Analyses of CrossCountry Regressions”, KYKLOS, Vol. 54, 1, pp.89–114.
  • 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.
  • De Mello, L.R. (1997), “Foreign Direct Investment in Developing Countries and Growth:A Selective Survey.” The Journal of Development Studies, 34, pp.1–34.
  • Dhakal, Dharmendra, Mixon, Franklin Jr. ve Upadhyaya, Kamal (2007), "Foreign direct investment and transition economies: empirical evidence from a panel data estimator." Economics Bulletin, Vol. 6, No. 33, pp. 1-9.
  • Duch, Raymond (2008), Longitudinal/Panel Data Analysis:Lecture 3 and 4, (çevrimiçi) raymond.duch@nu_eld.ox.ac.uk raymondduch.com/class/paneldata, 05.04.2010.
  • 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. (1994), “Re-evaluating the benefits offoreign direct investment”, Transnational Corporations, Vol. 3, No. 1, pp. 23–51.
  • Dunning, J.H. (1993), Multinational Enterprise and the Global Economy, Addison Wesley, Wokingham.
  • Erdal, Fuat ve 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.
  • Ghumro, Akhtiar Ahmed ve Hakro, Ahmed Nawaz (2007), “Foreign Direct Investment, Determinants And Policy Analysis: Case Study of Pakistan”, University of Glasgow’s Working Papers, No.04.
  • Holland, D. ve 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.
  • Hymer, S. (1960), The International Operations of National Firms: A Study of Direct Foreign Investment, MIT Press, Cambridge.
  • Janıckı, Hubert P.ve Wunnava, Phanındra V.(2004), “Determinants of foreign direct investment:empirical evidence from EU accession candidates”, Applied Economics, 36, pp.505–509.
  • Kar, Muhsin ve 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.
  • 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.
  • Lunn, J. (1980), “Determinants of U. S. Direct Investment in the E. E. C.: Further Evidence”, EuropeanEconomic Review. 13, pp. 93–101.
  • Nonnemberg, Marcelo Braga ve Mendonça, M. J. C. D. (2004), “The Determinants Of Foreign Direct Investment In Developıng Countries”, (çevrimiçi) www.anpec.org.br/encontro2004/artigos/A04A061.pdf, 07.03.2010.
  • 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. Ohlin, Bertil (1933), Interregional and International Trade, , Harvard University Press, Cambridge.
  • Onyeiwu, Steve and Shrestha, Hemanta (2004), “Determinants of Foreign Direct Investment in Africa”, Journal of Developing Societies, 20 (12),89, pp. 90–106.
  • Root, F. ve Ahmed, A. (1979), “Empirical Determinants of Manufacturing Direct Foreign Investment Developing Countries”, Economic Development and Cultural Change. 27, pp.751–767.
  • Schneider, F. and Frey, B. (1985), “Economic and Political Determinants of ForeignDirect Investment,” World Development, Vol. 13, pp. 161–175.
  • Seyitoğlu, Halil. (2007), Uluslararası İktisat: Teori, Politika ve Uygulama, 16. bs., İstanbul. 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.
  • UNCTAD (2003), World Investment Report: FDI Policies for Development: National and International Perspectives Overview (çevrimiçi) www.unctad.org/WIR,10.03.2010.
  • Yol Marial A. ve Teng, Ngie Teng (2009), “Estimating the Domestic Determinants of Foreign Direct Investment Flows in Malaysia:Evidence from Cointegration and Error-Correction Model”, Jurnal Pengurusan, 28, 2009, pp.3-22.

Year 2010, Issue: 12, 65 - 88, 17.03.2011

Burcu Özcan , Ayşe Arı

Abstract

References

  • Anderson, T. W. ve Hsiao, Cheng (1981), “Estimation of Dynamic Models with Error Components”, Journal of the American Statistical Association, 76 (375), pp. 598–606.
  • Ang, James B.(2008) “Determinants of foreign direct investment in Malaysia”, Journal of Policy Modeling, 30, pp.185–189.
  • Arellano, Manuel ve Bond, Stephen (1991), “Some Testsof Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations”, Review of Economic Studies, 58 (2), pp. 277–297.
  • Berkoz, Lale ve Turk, Sevkiye Sence (2009), “Locational Preferences of FDI Firms in Turkey: A Detailed Examination of Regional Determinants”, European Planning Studies, 17: 8, pp.1243 — 1256.
  • Berkoz, Lale ve 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.,ve Estrin, Saul (2004), “The determinants of foreign direct investment into European transition economies”, Journal of Comparative Economics 32, pp. 775–787.
  • Bevan, Alan A. ve Saul Estrin (2000), “The Determinants of Foreign Direct Investment in Transition Economies” , William Davidson Institute Working Paper, No.342, October 2000.
  • Blonigen, Bruce A. (2005), “Revıew Of The Empırıcal Lıterature On Fdı Determınants”, NBER Workıng Paper Serıes, 11299, pp. 1–37.
  • Botric, Valerija ve Skuflic, Lorena (2006), “Main Determınants Of Foreign Direct Investment In The South East European Countries”, Transition Studies Review, Vol.13, No.2, pp: 359–377.
  • Calvo, G.A., Leiderman, L. ve Reinhart, C.M. (1996), “Inflows of Capital to Developing Countries in the 1990s.”, Journal of Economic Perspectives, 10, pp.123–139.
  • Chakrabarti, Avik (2001), “The Determinants of Foreign Direct Investment: Sensitivity Analyses of CrossCountry Regressions”, KYKLOS, Vol. 54, 1, pp.89–114.
  • 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.
  • De Mello, L.R. (1997), “Foreign Direct Investment in Developing Countries and Growth:A Selective Survey.” The Journal of Development Studies, 34, pp.1–34.
  • Dhakal, Dharmendra, Mixon, Franklin Jr. ve Upadhyaya, Kamal (2007), "Foreign direct investment and transition economies: empirical evidence from a panel data estimator." Economics Bulletin, Vol. 6, No. 33, pp. 1-9.
  • Duch, Raymond (2008), Longitudinal/Panel Data Analysis:Lecture 3 and 4, (çevrimiçi) raymond.duch@nu_eld.ox.ac.uk raymondduch.com/class/paneldata, 05.04.2010.
  • 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. (1994), “Re-evaluating the benefits offoreign direct investment”, Transnational Corporations, Vol. 3, No. 1, pp. 23–51.
  • Dunning, J.H. (1993), Multinational Enterprise and the Global Economy, Addison Wesley, Wokingham.
  • Erdal, Fuat ve 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.
  • Ghumro, Akhtiar Ahmed ve Hakro, Ahmed Nawaz (2007), “Foreign Direct Investment, Determinants And Policy Analysis: Case Study of Pakistan”, University of Glasgow’s Working Papers, No.04.
  • Holland, D. ve 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.
  • Hymer, S. (1960), The International Operations of National Firms: A Study of Direct Foreign Investment, MIT Press, Cambridge.
  • Janıckı, Hubert P.ve Wunnava, Phanındra V.(2004), “Determinants of foreign direct investment:empirical evidence from EU accession candidates”, Applied Economics, 36, pp.505–509.
  • Kar, Muhsin ve 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.
  • 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.
  • Lunn, J. (1980), “Determinants of U. S. Direct Investment in the E. E. C.: Further Evidence”, EuropeanEconomic Review. 13, pp. 93–101.
  • Nonnemberg, Marcelo Braga ve Mendonça, M. J. C. D. (2004), “The Determinants Of Foreign Direct Investment In Developıng Countries”, (çevrimiçi) www.anpec.org.br/encontro2004/artigos/A04A061.pdf, 07.03.2010.
  • 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. Ohlin, Bertil (1933), Interregional and International Trade, , Harvard University Press, Cambridge.
  • Onyeiwu, Steve and Shrestha, Hemanta (2004), “Determinants of Foreign Direct Investment in Africa”, Journal of Developing Societies, 20 (12),89, pp. 90–106.
  • Root, F. ve Ahmed, A. (1979), “Empirical Determinants of Manufacturing Direct Foreign Investment Developing Countries”, Economic Development and Cultural Change. 27, pp.751–767.
  • Schneider, F. and Frey, B. (1985), “Economic and Political Determinants of ForeignDirect Investment,” World Development, Vol. 13, pp. 161–175.
  • Seyitoğlu, Halil. (2007), Uluslararası İktisat: Teori, Politika ve Uygulama, 16. bs., İstanbul. 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.
  • UNCTAD (2003), World Investment Report: FDI Policies for Development: National and International Perspectives Overview (çevrimiçi) www.unctad.org/WIR,10.03.2010.
  • Yol Marial A. ve Teng, Ngie Teng (2009), “Estimating the Domestic Determinants of Foreign Direct Investment Flows in Malaysia:Evidence from Cointegration and Error-Correction Model”, Jurnal Pengurusan, 28, 2009, pp.3-22.
There are 40 citations in total.

Details

Primary Language Turkish
Journal Section Makaleler
Authors

Burcu Özcan

Ayşe Arı

Publication Date March 17, 2011
Published in Issue Year 2010 Issue: 12

Cite

APA Özcan, B., & Arı, A. (2011). DOĞRUDAN YABANCI YATIRIMLARIN BELİRLEYİCİLERİ ÜZERİNE BİR ANALİZ: OECD ÖRNEĞİ. Istanbul University Econometrics and Statistics E-Journal(12), 65-88.
AMA Özcan B, Arı A. DOĞRUDAN YABANCI YATIRIMLARIN BELİRLEYİCİLERİ ÜZERİNE BİR ANALİZ: OECD ÖRNEĞİ. Istanbul University Econometrics and Statistics e-Journal. March 2011;(12):65-88.
Chicago Özcan, Burcu, and Ayşe Arı. “DOĞRUDAN YABANCI YATIRIMLARIN BELİRLEYİCİLERİ ÜZERİNE BİR ANALİZ: OECD ÖRNEĞİ”. Istanbul University Econometrics and Statistics E-Journal, no. 12 (March 2011): 65-88.
EndNote Özcan B, Arı A (March 1, 2011) DOĞRUDAN YABANCI YATIRIMLARIN BELİRLEYİCİLERİ ÜZERİNE BİR ANALİZ: OECD ÖRNEĞİ. Istanbul University Econometrics and Statistics e-Journal 12 65–88.
IEEE B. Özcan and A. Arı, “DOĞRUDAN YABANCI YATIRIMLARIN BELİRLEYİCİLERİ ÜZERİNE BİR ANALİZ: OECD ÖRNEĞİ”, Istanbul University Econometrics and Statistics e-Journal, no. 12, pp. 65–88, March 2011.
ISNAD Özcan, Burcu - Arı, Ayşe. “DOĞRUDAN YABANCI YATIRIMLARIN BELİRLEYİCİLERİ ÜZERİNE BİR ANALİZ: OECD ÖRNEĞİ”. Istanbul University Econometrics and Statistics e-Journal 12 (March 2011), 65-88.
JAMA Özcan B, Arı A. DOĞRUDAN YABANCI YATIRIMLARIN BELİRLEYİCİLERİ ÜZERİNE BİR ANALİZ: OECD ÖRNEĞİ. Istanbul University Econometrics and Statistics e-Journal. 2011;:65–88.
MLA Özcan, Burcu and Ayşe Arı. “DOĞRUDAN YABANCI YATIRIMLARIN BELİRLEYİCİLERİ ÜZERİNE BİR ANALİZ: OECD ÖRNEĞİ”. Istanbul University Econometrics and Statistics E-Journal, no. 12, 2011, pp. 65-88.
Vancouver Özcan B, Arı A. DOĞRUDAN YABANCI YATIRIMLARIN BELİRLEYİCİLERİ ÜZERİNE BİR ANALİZ: OECD ÖRNEĞİ. Istanbul University Econometrics and Statistics e-Journal. 2011(12):65-88.
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