Özet:

In this study, the effect of institutional quality indicators (freedom of expression and accountability, political stability and lack of violence / terrorism, government effectiveness, quality of regulations, rule of law and control of corruption) on Foreign Direct Investment (FDI) inflows, in OECD was analyzed by panel data analysis using 2002-2018 data. Three different models were created by adding trade openness and inflation variables as control variables. The stationarities of the series were tested by Levin, Lin and Chu (LLC) and Hadri panel unit root tests and the series were determined to be stationary at the level. As a result of the analyzes, random effects model was found suitable for model 1 and fixed effects model was suitable for model 2 and model 3. In addition, whether the models provide assumptions has been tested and the Driscoll-Kraay resistant standard estimator and Beck-Katz tests have been developed against deviations from the assumptions. As a result of the study, it has been determined that the impact of political stability and the absence of violence / terrorism, the quality of regulations and control of corruption on FDI inflows are positive and significant. It was also determined that trade openness, one of the control variables, had a positive and significant effect on FDI inflows, and inflation had a negative effect.

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