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Doğrudan yabancı yatırımlar 21. yy global ve liberal ekonomisinde, ülkelerin ekonomik refah düzeyini ve uluslararası rekabet gücünü arttırabilmesinde önemli rol oynamaktadır. Bu durum, doğrudan yabancı yatırımların önemini fark eden gelişmekte olan ekonomileri, yatırımları ülkelerine çekmek için politikalar üretmeye ve yenilemeye yöneltmektedir. Bu bağlamda çalışmanın amacı, Dünya Bankası tarafından belirlenen kurumsal yönetişim göstergelerinin Türkiye’nin de dahil olduğu 20 orta gelirli ülkedeki doğrudan yabancı yatırım girişlerine etkisini 2002-2018 dönemi için araştırmaktır. Çalışmanın bağımlı değişkenini doğrudan yabancı yatırım girişlerinin gayrı safi yurtiçi hasıla içindeki payı, bağımsız değişkenlerini ise yolsuzluğun kontrolü, hükümetin etkililiği, politik istikrar ve şiddetin yokluğu, düzenleyici kalitesi, hukukun üstünlüğü ile ifade özgürlüğü ve hesap verilebilirlik oluşturmaktadır. Çalışmada yıllık veri setleri kullanılarak değişkenler arasındaki ilişki panel veri analizi ile test edilmektedir. Analizden elde edilen bulgulara göre, doğrudan yabancı yatırım girişleri üzerinde politik istikrar ve şiddetin yokluğu ile düzenleyici kalitesi değişkenleri pozitif hükümetin etkililiği değişkeni ise negatif etkilidir. Ayrıca, kontrol değişkenleri olarak kullanılan ticarete açıklık ile yurtiçi yatırım düzeyindeki artış ülkelerin doğrudan yabancı yatırım girişlerini arttırmaktadır.
Direct foreign investment plays an important role in the 21st-century global and liberal economy, increasing the country’s economic well-being and international competitiveness. This is a way for developing economies that realize the importance of foreign investments, to develop and renew policies to attract their investments to their countries. The aim of the study in this context is to investigate the impact of the corporate governance indicators determined by the World Bank on foreign direct investment entries in 20 middle-income countries, including Turkey, for the period 2002-2018. The dependent variable of the study is the share in the non-clean domestic profits of foreign investments, the independent variable is the control of corruption, the effectiveness of the government, the absence of political stability and violence, the quality of regulatory, the sovereignty of law and freedom of expression and accountability. In the study, the relationship between the variables is tested using annual data sets by panel data analysis. According to the findings obtained from the analysis, political stability and the absence of violence on foreign direct investment entries and regulatory quality variables are positive; the government’s effectiveness variable is negative. Furthermore, the increase in the level of domestic investment with open trade used as control variables increases the country’s direct foreign investment entries.
Foreign direct investments play an important role in increasing the economic prosperity and international competitiveness of countries in the global and liberal economy of the 21st century. This situation directs the developing economies, which recognize the importance of foreign direct investments, to produce and renew policies to attract investments to their countries. In this context, the aim of this study is to research the effect of institutional governance indicators defined by World Bank in the 20 middle income countries, in which Turkey is also included, for 2002-2018 period. The dependent variable of the study is the share of foreign direct investment inflows in the gross domestic product, while the independent variables are the control of corruption, government effectiveness, political stability and the absence of violence, regulatory quality, rule of law and voice and accountability. In the study, the relationship between variables is tested with panel data analysis by using annual data sets. According to the findings from the analysis, political stability and absence of violence and regulatory quality variables have a positive effect; government effectiveness has negative effect on foreign direct investment inflows. Besides, an increase in trade openness and domestic investment level increase countries’ foreign direct investment inflows.
Field : Sosyal, Beşeri ve İdari Bilimler
Journal Type : Ulusal
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