Özet:

With globalization, the volume of goods and capital moving across borders has increased worldwide. In order to benefit from this increase, countries that implement export-oriented growth policies and policies that facilitate the inflow of foreign direct investment (FDI) can achieve high economic growth rates. This study aims to contribute to the literature by investigating the trade openness, foreign direct investment and growth nexus in the group of emerging market economies called BRICS-T (Brazil, Russia, India, China, South Africa and Turkey) for the period 1992-2019 using panel data analysis methods. As a result of the analysis, a bidirectional Granger causality was found between trade openness and growth and a one-way Granger causality relationship from growth to foreign direct investments. However, causality relationships between trade openness and foreign direct investment are only found in India and South Africa. In addition, one-way causality relationships, running from growth to trade openness and from growth to foreign direct investment, were found for Turkey. The findings of the study imply that trade openness may have an indirect effect on foreign direct investment through economic growth.

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