Döviz kuru ile doğrudan yabancı yatırımlar ilişkisi: Türkiye örneği
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Dosyalar
Tarih
2020
Yazarlar
Dergi Başlığı
Dergi ISSN
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Yayıncı
Hatay Mustafa Kemal Üniversitesi
Erişim Hakkı
info:eu-repo/semantics/openAccess
Özet
Küreselleşen dünya ekonomisinde doğrudan yabancı yatırımlar, az gelişmiş ülkeler için önemli bir hale gelmiştir. Çünkü doğrudan yabancı yatırımlarla birlikte ülkeye istihdam, büyüme, kalkınma, döviz, girişimcilik ve teknoloji de gelmektedir. Az gelişmiş ülkelerin önemli eksikleri olan bu faktörleri ülkeye çekmek için birbiriyle rekabet içindedirler. Doğrudan yabancı yatırımlar ev sahibi parası cinsinden yatırım yaparlar. Bu çalışma, doğrudan yabancı yatırım gerçekleştiren ulus ötesi şirketler için önemli bir belirleyici olarak düşündüğümüz döviz kurunun etkisi araştırılmıştır. Çalışmanın ekonometrik bölümünde 1984-2019 dönemini kapsayan yıllık verileriyle reel efektif döviz kurunun, dışa açıklık oranının ve piyasa büyüklüğünün doğrudan yabancı yatırımlara olan etkisi analiz edilmiştir. Değişkenlere birim kök testleri yapılmış hepsinin aynı mertebeden durağan olduğu tespit edilmiş, Johansen eşbütünleşme testi uygulanmış ve uzun dönem iliklisinin varlığı tespit edilmiştir. Eşbütünleşme testinden elde edilen sonuçlarına göre doğrudan yabacı yatırımlar ile reel efektif döviz kuru ve piyasa büyüklüğü arasında pozitif, dışa açıklık oranı ile negatif bir ilişki tespit edilmiştir.
In the globalizing world economy, foreign direct investments have become important for less developed countries. Because together with foreign direct investments, employment, growth, development, foreign exchange, entrepreneurship and technology also come to the country. Less developed countries compete with each other to attract these factors, which are important shortcomings to the country. Foreign direct investors invest in the host country currency. In this study, the effect of the exchange rate, which is an important determinant for the transnational companies making foreign direct investments, is investigated. In the econometric section of the present study, the effect of real effective exchange rate, rate of openness and market size on the foreign direct investment is analyzed with annual data covering the period 1984-2019. Unit root tests were applied to the variables and it was determined that all of them were stationary in the same order, the Johansen cointegration test was applied and the existence of long-term correlation was determined. According to the results estimated with the Johansen cointegration test, a positive relationship was found between real effective exchange rate and market size and foreign direct investments, while a negative relationship was found between openness ratio and foreign direct investments.
In the globalizing world economy, foreign direct investments have become important for less developed countries. Because together with foreign direct investments, employment, growth, development, foreign exchange, entrepreneurship and technology also come to the country. Less developed countries compete with each other to attract these factors, which are important shortcomings to the country. Foreign direct investors invest in the host country currency. In this study, the effect of the exchange rate, which is an important determinant for the transnational companies making foreign direct investments, is investigated. In the econometric section of the present study, the effect of real effective exchange rate, rate of openness and market size on the foreign direct investment is analyzed with annual data covering the period 1984-2019. Unit root tests were applied to the variables and it was determined that all of them were stationary in the same order, the Johansen cointegration test was applied and the existence of long-term correlation was determined. According to the results estimated with the Johansen cointegration test, a positive relationship was found between real effective exchange rate and market size and foreign direct investments, while a negative relationship was found between openness ratio and foreign direct investments.
Açıklama
Anahtar Kelimeler
Ekonomi, Economics
