The Relationship Between Economic Growth and Foreign Direct Investment in The Turkic Republics

Hasan Kazak; Ahmet Tayfur Akcan; Mustafa İyibildiren

doi:10.17233/sosyoekonomi.2024.04.08

Research Article

The Relationship Between Economic Growth and Foreign Direct Investment in The Turkic Republics

Year 2024, Volume: 32 Issue: 62, 157 - 177, 28.10.2024

Hasan Kazak , Ahmet Tayfur Akcan , Mustafa İyibildiren

https://doi.org/10.17233/sosyoekonomi.2024.04.08

Abstract

This research examines the correlation between economic growth and foreign direct investment (FDI) data of the Turkic Republics, namely Kazakhstan, Uzbekistan, Azerbaijan, Türkiye, and Kyrgyzstan, over the period from 1993 to 2022 through a meticulous panel data analysis. The results of the panel, Fourier Toda Yamamoto test, reveal a reciprocal causality between economic growth and FDI, especially in Azerbaijan. In the case of Uzbekistan, the study finds that FDI plays a catalytic role in inducing economic growth. The panel Fourier cointegration test carried out for all the countries studied confirms a cointegration relationship among the variables in all the countries studied.

Keywords

Turkic Republics, Foreign Direct Investment, Economic Growth, Panel Data Analysis

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Türk Cumhuriyetlerinde Ekonomik Büyüme ve Doğrudan Yabancı Yatırımlar Arasındaki İlişki

Year 2024, Volume: 32 Issue: 62, 157 - 177, 28.10.2024

Hasan Kazak , Ahmet Tayfur Akcan , Mustafa İyibildiren

https://doi.org/10.17233/sosyoekonomi.2024.04.08

Abstract

Bu çalışma, Türk Cumhuriyetleri olan Kazakistan, Özbekistan, Azerbaycan, Türkiye ile Kırgızistan'ın 1993-2022 dönemine ait ekonomik büyüme ve doğrudan yabancı yatırım (DYY) verileri arasındaki ilişkiyi bir panel veri analizi ile incelemektedir. Panel Fourier Toda Yamamoto testinin sonuçları, özellikle Azerbaycan bağlamında, ekonomik büyüme ve DYY arasında karşılıklı bir nedensellik olduğunu ortaya koymaktadır. Özbekistan örneğinde ise çalışma, DYY'nin ekonomik büyümeyi tetiklemede önemli bir rol oynadığını ortaya koymaktadır. İncelenen tüm ülkeler için gerçekleştirilen panel Fourier eşbütünleşme testi, incelenen tüm ülkelerde değişkenler arasında bir eşbütünleşme ilişkisinin varlığını doğrulamaktadır.

Keywords

Türk Cumhuriyetleri, Doğrudan Yabancı yatırımlar, Ekonomik Büyüme, Panel Veri Analizi

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Primary Language	English
Subjects	Growth
Journal Section	Articles
Authors	Hasan Kazak 0000-0003-0699-5371 Ahmet Tayfur Akcan 0000-0001-8210-7327 Mustafa İyibildiren 0000-0002-5076-1348
Early Pub Date	October 13, 2024
Publication Date	October 28, 2024
Submission Date	February 6, 2024
Acceptance Date	August 21, 2024
Published in Issue	Year 2024 Volume: 32 Issue: 62

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APA	Kazak, H., Akcan, A. T., & İyibildiren, M. (2024). The Relationship Between Economic Growth and Foreign Direct Investment in The Turkic Republics. Sosyoekonomi, 32(62), 157-177. https://doi.org/10.17233/sosyoekonomi.2024.04.08
AMA	Kazak H, Akcan AT, İyibildiren M. The Relationship Between Economic Growth and Foreign Direct Investment in The Turkic Republics. Sosyoekonomi. October 2024;32(62):157-177. doi:10.17233/sosyoekonomi.2024.04.08
Chicago	Kazak, Hasan, Ahmet Tayfur Akcan, and Mustafa İyibildiren. “The Relationship Between Economic Growth and Foreign Direct Investment in The Turkic Republics”. Sosyoekonomi 32, no. 62 (October 2024): 157-77. https://doi.org/10.17233/sosyoekonomi.2024.04.08.
EndNote	Kazak H, Akcan AT, İyibildiren M (October 1, 2024) The Relationship Between Economic Growth and Foreign Direct Investment in The Turkic Republics. Sosyoekonomi 32 62 157–177.
IEEE	H. Kazak, A. T. Akcan, and M. İyibildiren, “The Relationship Between Economic Growth and Foreign Direct Investment in The Turkic Republics”, Sosyoekonomi, vol. 32, no. 62, pp. 157–177, 2024, doi: 10.17233/sosyoekonomi.2024.04.08.
ISNAD	Kazak, Hasan et al. “The Relationship Between Economic Growth and Foreign Direct Investment in The Turkic Republics”. Sosyoekonomi 32/62 (October 2024), 157-177. https://doi.org/10.17233/sosyoekonomi.2024.04.08.
JAMA	Kazak H, Akcan AT, İyibildiren M. The Relationship Between Economic Growth and Foreign Direct Investment in The Turkic Republics. Sosyoekonomi. 2024;32:157–177.
MLA	Kazak, Hasan et al. “The Relationship Between Economic Growth and Foreign Direct Investment in The Turkic Republics”. Sosyoekonomi, vol. 32, no. 62, 2024, pp. 157-7, doi:10.17233/sosyoekonomi.2024.04.08.
Vancouver	Kazak H, Akcan AT, İyibildiren M. The Relationship Between Economic Growth and Foreign Direct Investment in The Turkic Republics. Sosyoekonomi. 2024;32(62):157-7.

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