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Bu çalışmanın amacı gelişmiş ülkelerde doğrudan yabancı yatırım çıkışları ile yurt içi yatırımları arasındaki nedensellik ilişkisini incelemektir. Çalışma, dokuz gelişmiş ülke için (ABD, Almanya, Fransa, Hollanda, İngiltere, İrlanda, İsviçre, Japonya ve Kanada) 1985-2018 dönemi için ele alınmıştır. Çalışmada doğrudan yabancı yatırım çıkışları ile yurt içi yatırımlar arasındaki nedensellik ilişkisi yatay kesit bağımlılığı ve homojeniteye izin veren panel Granger nedensellik testiyle incelenmiştir. Çalışmanın yatay kesit bağımlılığı ve homojenlik testi sonuçlarına göre serilerde yatay kesit bağımlılığı vardır. Ayrıca çalışmanın eğim katsayıları beklentilere uygun şekilde homojendir. CADF panel birim kök testi sonuçlarına göre ülke ve paneli oluşturan seriler düzey değerinde durağan değildir. Panel Granger nedensellik sonuçlarına göre ise gelişmiş ülkelerde doğrudan yabancı yatırım çıkışlarından ana ülkenin yurt içi yatırımlarına doğru tek yönlü bir nedensellik ilişkisi vardır.
The aim of this study is to explore the causal relationship between foreign direct investment output and domestic investment in developed countries. The study was discussed for nine developed countries (US, Germany, France, the Netherlands, the UK, Ireland, Switzerland, Japan and Canada) for the period 1985-2018. In the study, the causal relationship between foreign direct investment output and domestic investment was studied by the Granger causal test that allowed horizontal cutting dependency and homogenity. According to the study’s horizontal cutting dependency and the homogenity test results, the series has horizontal cutting dependency. Also, the curve rates of the study are homogeneous according to expectations. According to the CADF panel unit root test results, the country and the series that make up the panel are not stable in the level value. According to Panel Granger, there is a one-way causal relationship from foreign direct investment output to domestic investment in developed countries.
The aim of the study is to examine the causality relationship between outward foreign direct investment and domestic investments in developed countries. The study encompasses 1985-2018 period for nine developed countries (USA, Germany, France, Netherlands, UK, Ireland, Switzerland, Japan and Canada). In the study, the causality relationship between outward foreign direct investment and domestic investments is examined with the panel Granger causality test that allows for cross-sectional dependency and homogeneity. According to the results of the cross-section dependence and homogeneity test of the study, there is a cross-section dependence in the series. In addition, the slope coefficients of the study are homogeneous in accordance with the expectations. According to the CADF panel unit root test results, the country and the series forming the panel are not stable at level value. According to the panel Granger causality results, there is a one-way causality relationship from outward foreign direct investment to the domestic investments of the home country in developed countries.
Field : Sosyal, Beşeri ve İdari Bilimler
Journal Type : Uluslararası
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