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Kurumsal Çevre Doğrudan Yabancı Yatırım Çıkışlarını Etkiler mi?: Panel Veri Çalışması

Year 2020, Volume: 9 Issue: 18, 51 - 57, 31.12.2020

Hüseyin Safa Ünal Jülide Yalçınkaya Koyuncu

Abstract

Bu çalışma, 1990-2011 yıllarını kapsayan dönem için kurumsal yapı ile doğrudan yabancı yatırım (DYY) çıkışı arasında bir ilişki olup olmadığını incelemektedir. Bu amaçla, üç farklı kurumsal yapı göstergesinden yararlanılmıştır. İfade ve basın özgürlüğü, din özgürlüğü ve seçimlerde kendi kaderini tayin hakkının kurumsal yapıyı gösterdiği düşünülmektedir. Rassal etkiler modelinin kullanıldığı çalışmada, dışarıya yönelik DYY ile kurumsal yapının kalitesi arasında negatif yönlü bir ilişki olduğu tespit edilmiştir. Dışa açıklık ve beşeri sermaye yatırımları kontrol değişkenler olarak modellere eklendiğinde seçimlerle kendi kaderini tayin etme indeksi istatistiksel anlamlılığını yitirmektedir. Ancak bu durumda dahi diğer ampirik bulgular hala geçerliliğini korumaktadır.

Keywords

DYY Stoku Çıkışı DYY Akışı Özgürlük Kurumlar Rassal Etkiler Modeli

References

  • Andreff, W. (2016). Outward foreign direct investment from BRIC countries: Comparing strategies of Brazilian, Russian, Indian and Chinese multinational companies.
  • Bénassy‐Quéré, A., Coupet, M., & Mayer, T. (2007). Institutional determinants of foreign direct investment. World economy, 30(5), 764-782.
  • Chiappini, R., & Viaud, F. (2020). Macroeconomic, institutional, and sectoral determinants of outward foreign direct investment: Evidence from Japan. Pacific Economic Review, e12347.
  • CIRI. (2014). Human Rights Project. Retrieved (01.11.2020), Retrieved from http://www.humanrightsdata.com/
  • Egger, P. (2001). European exports and outward foreign direct investment: A dynamic panel data approach. Review of World Economics, 137(3), 427-449.
  • Fofana, M. F. (2014). The influence of measures of economic freedom on FDI: A comparison of Western Europe and Sub-Saharan Africa. Global Economy Journal, 14(3-4), 399-424.
  • George, S., & Harandi, F. J. (2013). Key Indicators Influencing Foreign Direct Investment in MALAYSIA. Journal of Contemporary Issues and Thought, 3, 12-35.
  • Imtiaz, S., & Bashir, M. F. (2017). Economic freedom and foreign direct investment in South Asian countries. Theoretical & Applied Economics, 24(2).
  • Kalotay, K., & Sulstarova, A. (2010). Modelling russian outward FDI. Journal of international management, 16(2), 131-142.
  • Kolstad, I., & Wiig, A. (2012). What determines Chinese outward FDI?. Journal of World Business, 47(1), 26-34.
  • Lee, C., Lee, C. G., & Yeo, M. (2016). Determinants of Singapore's outward FDI. Journal of Southeast Asian Economies, 23-40.
  • Lucke, N., & Eichler, S. (2016). Foreign direct investment: the role of institutional and cultural determinants. Applied Economics, 48(11), 935-956.
  • Stoian, C. (2013). Extending Dunning's Investment Development Path: The role of home country institutional determinants in explaining outward foreign direct investment. International Business Review, 22(3), 615-637.
  • Subasat, T., & Bellos, S. (2011a). Economic freedom and foreign direct investment in Latin America: A panel gravity model approach. Economics Bulletin, 31(3), 2053-2065.
  • Subasat, T., & Bellos, S. (2011b). Economic freedom and foreign direct investment: A panel gravity model approach. The Empercal Economics Letters, 10(7), 698-704.
  • UNCTAD. (2020a). UNCTADSTAT. (01.10.2020), Retrieved from http://unctadstat.unctad.org/wds/TableViewer/summary.aspx
  • UNCTAD. (2020b). UNCTADSTAT. (01.10.2020), Retrieved from https://unctadstat.unctad.org/wds/ReportFolders/reportFolders.aspx
  • Witt, M. A., & Lewin, A. Y. (2007). Outward foreign direct investment as escape response to home country institutional constraints. Journal of International business studies, 38(4), 579-594.
  • World Bank, (2020). World Development Indicators. (20.11.2020), Retrieved from https://databank.worldbank.org/source/world-development-indicators
  • Xu, T. (2019). Economic freedom and bilateral direct investment. Economic Modelling, 78, 172-179.

Does Institutional Environment Affect Outward Foreign Direct Investment?: Panel Study

Year 2020, Volume: 9 Issue: 18, 51 - 57, 31.12.2020

Hüseyin Safa Ünal Jülide Yalçınkaya Koyuncu

Abstract

This study is an attempt to find if there is any association between institutional environment and outward foreign direct investment (FDI) for the period between 1990 and 2011. For this aim three different institutional structure indicators are utilized. Freedom of speech and press, religion freedom and electoral self-determination are put into use. There is a negative linkage between outward FDI and the quality of institutional structure using random effects model (REM). Although electoral self-determination loses its statistical significance, empirical findings still hold even if the openness and human capital investment proxies are added to the models as control variables.

Keywords

Outward FDI Stock Outward FDI Flow Freedom Institutions Random Effects Model

References

  • Andreff, W. (2016). Outward foreign direct investment from BRIC countries: Comparing strategies of Brazilian, Russian, Indian and Chinese multinational companies.
  • Bénassy‐Quéré, A., Coupet, M., & Mayer, T. (2007). Institutional determinants of foreign direct investment. World economy, 30(5), 764-782.
  • Chiappini, R., & Viaud, F. (2020). Macroeconomic, institutional, and sectoral determinants of outward foreign direct investment: Evidence from Japan. Pacific Economic Review, e12347.
  • CIRI. (2014). Human Rights Project. Retrieved (01.11.2020), Retrieved from http://www.humanrightsdata.com/
  • Egger, P. (2001). European exports and outward foreign direct investment: A dynamic panel data approach. Review of World Economics, 137(3), 427-449.
  • Fofana, M. F. (2014). The influence of measures of economic freedom on FDI: A comparison of Western Europe and Sub-Saharan Africa. Global Economy Journal, 14(3-4), 399-424.
  • George, S., & Harandi, F. J. (2013). Key Indicators Influencing Foreign Direct Investment in MALAYSIA. Journal of Contemporary Issues and Thought, 3, 12-35.
  • Imtiaz, S., & Bashir, M. F. (2017). Economic freedom and foreign direct investment in South Asian countries. Theoretical & Applied Economics, 24(2).
  • Kalotay, K., & Sulstarova, A. (2010). Modelling russian outward FDI. Journal of international management, 16(2), 131-142.
  • Kolstad, I., & Wiig, A. (2012). What determines Chinese outward FDI?. Journal of World Business, 47(1), 26-34.
  • Lee, C., Lee, C. G., & Yeo, M. (2016). Determinants of Singapore's outward FDI. Journal of Southeast Asian Economies, 23-40.
  • Lucke, N., & Eichler, S. (2016). Foreign direct investment: the role of institutional and cultural determinants. Applied Economics, 48(11), 935-956.
  • Stoian, C. (2013). Extending Dunning's Investment Development Path: The role of home country institutional determinants in explaining outward foreign direct investment. International Business Review, 22(3), 615-637.
  • Subasat, T., & Bellos, S. (2011a). Economic freedom and foreign direct investment in Latin America: A panel gravity model approach. Economics Bulletin, 31(3), 2053-2065.
  • Subasat, T., & Bellos, S. (2011b). Economic freedom and foreign direct investment: A panel gravity model approach. The Empercal Economics Letters, 10(7), 698-704.
  • UNCTAD. (2020a). UNCTADSTAT. (01.10.2020), Retrieved from http://unctadstat.unctad.org/wds/TableViewer/summary.aspx
  • UNCTAD. (2020b). UNCTADSTAT. (01.10.2020), Retrieved from https://unctadstat.unctad.org/wds/ReportFolders/reportFolders.aspx
  • Witt, M. A., & Lewin, A. Y. (2007). Outward foreign direct investment as escape response to home country institutional constraints. Journal of International business studies, 38(4), 579-594.
  • World Bank, (2020). World Development Indicators. (20.11.2020), Retrieved from https://databank.worldbank.org/source/world-development-indicators
  • Xu, T. (2019). Economic freedom and bilateral direct investment. Economic Modelling, 78, 172-179.
There are 20 citations in total.

Details

Primary Language English
Subjects Economics
Journal Section Research Article
Authors

Hüseyin Safa Ünal 0000-0001-7841-5685

Jülide Yalçınkaya Koyuncu 0000-0001-7930-4901

Publication Date December 31, 2020
Acceptance Date December 7, 2020
Published in Issue Year 2020 Volume: 9 Issue: 18

Cite

APA Ünal, H. S., & Yalçınkaya Koyuncu, J. (2020). Does Institutional Environment Affect Outward Foreign Direct Investment?: Panel Study. Balkan Sosyal Bilimler Dergisi, 9(18), 51-57.
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