Özet:

In today’s economies, the impact of international capital movements on the country’s economy is being investigated. In particular, with the liberalization of capital movements, foreign direct investments move from developed countries to developing countries. The developing countries that have begun to follow the outer economic policies have followed policies that encourage foreign investors to attract international capital movements to their own countries. Foreign investments in developing countries have had both positive and negative impacts on the country’s economy. After obtaining independence, other developing countries, such as Turkmenistan, Azerbaijan, Kyrgyzstan, Uzbekistan and the Republic of Kazakhstan, have begun to follow out-of-the-country, export-increasing policies for the stable growth of the country’s economy. Economic policies aimed at attracting foreign investments to the country. In this study, the policies implemented in the periods following the independence of the countries concerned, the impact and consequences of international capital movements entering the country on the country’s economy were attempted to be econometrically revealed. Panel data econometrics analysis was conducted using data between 1996-2016 years. According to the study, direct foreign investments have a correctly proportionate, reverse-proportionate relationship with inflation. The most obvious result of the study, contrary to the expected, is that the estimated GDP rate in the period we study is negative and statistically meaningless.