BibTex RIS Kaynak Göster

The Impact of the Foreign Trade with Neighboring Countries on FDI Inflows: A Panel Data Analysis for Developing Countries

Yıl 2017, Cilt: 3 Sayı: 1, 63 - 80, 01.03.2017

Engin Dücan Mustafa Akal

Öz

In terms of foreign direct investment (FDI) decisions, the target country's technological competence, production efficiency, cost advantages as well as openness are very important. At the beginning of the 1990's, intensified liberalization policies increased FDI inflows to developing countries. In this study, the effect of large market volume advantage and raw materials and semifinished products supply advantage on FDI inflows is investigated. The fixed effects model was found to be suitable for the data set in which 94 developing countries are considered. The models developed against deviations from assumptions have been estimated by Parks-Kmenta (GEKK), Beck-Katz (PCSEs) and Driscoll-Kraay robust standard estimator. As a result of the analysis, it is found that trade with neighboring countries has a positive effect on FDI inflows

Anahtar Kelimeler

Foreign Trade Foreign Direct Investment Gravity Model Panel Data Analysis Fixed Effect Model

Kaynakça

  • Abumera, S. (1978), “Multinationals, Location Theory and Regional Development: Case of Bendel State of Nigeria”, Regional Studies, 12, 651-664.
  • Alguacil, M. T. ve V. Orts (2003), “Inward Foreign Direct Investment and Imports in Spain”, International Economic Journal, Volume 17, No. 3.
  • Arellano, M. (1987), “Computing Robust Standard Errors for Within-Group Estimators”, Oxford Bulletin of Economics and Statistics, 49, 431-434
  • Bajo-Rubıo, Oscar ve Montero-Munoz M. (2001), “Foreign Direct Investment and Trade: A Causality Analysis”, Open Economies Review, 12, s. 305-323.
  • Beck, N. and J. N. Katz (1995), What to Do (and not to Do) with Time-series Cross-Section Data, American Political Science Review 89, 634-47.
  • Brainard S. (1993), Asimple Theory of Multinational Corporations and Trade with a Trade-off BetweenProximity and Concentration, NBER Working paper No.4269, February.
  • Chakrabarti, Avik (2003), “A Theory of The Spatial Distribution of Foreign Direct Investment”, International Review of Economics and Finance, Vol. 12, No.2, s. 149–169
  • Chen, Y., ve Chen, J. (2009), The impact of FDI on regional technological capabilities: evidence from China, Journal of Knowledge-Based Innovation in China, 1(2), 143-158.
  • Crozet, M., T. Mayer ve J.L. Mucchielli (2004), “How Do Firms Agglomerate? A Study of FDI in France”, Regional Science and Urban Economics, 34, 27-54.
  • De Mello Jr, L. R., & Fukasaku, K. (2000), Trade and foreign direct investment in Latin America and Southeast Asia: temporal causality analysis, Journal of International development, 12(7), 903.
  • Dicken, Peter (1998), Global Shift: Transforming the World Economy.
  • Dinler, Zeynel (1978), Bölgesel İktisat, Bursa İktisadi ve Ticari İlimler Akademisi.
  • Dunning, J. H. (1993), Multinational Enterprises and the Global Economy, Addison-Wesley, New York.
  • Eicker, Friedhelm (1967), Limit Theorems for Regressions with Unequal and Dependent Errors, Proc. Fifth Berkeley Symp. on Math. Statist. and Prob., Vol. 1 (Univ. of Calif. Press, 1967), 59- 82
  • Friedman, J., D.A. Gerlowski ve J. Silberman (1992), “What Attracts Foreign Multinational Corporations? Evidence From Branch Plant Location in The United States”, Journal of Regional Science, 32, 403-418.
  • Froot, K. A. (1989), Consistent Covariance Matrix Estimation with Cross-Sectional Dependence and Heteroskedasticity in Financial Data, Journal of Financial and Quantitative Analysis 24: 333–355.
  • Granger, C. W., ve Newbold, P. (1974), Spurious regressions in econometrics, Journal of econometrics, 2(2), 111-120.
  • Greene, William H. (2003), Econometric Analysis, Fifth Edition, Pearson Education, Upper Saddle River, New Jersey.
  • Gujarati, Damodar N. (2004), Basic Econometrics, Fourth Edition, New York: The McGraw-Hill.
  • Hanink, D. M. (1997), Principles and Applications of Economic Geography, John Wiley & Sons, New York.
  • He, C. (2003a), “Location of Foreign Manufacturers in China: Agglomeration Economies and Country of Origin Effects”, Papers Regional Science, 82, 351–372.
  • He, C. (2003b), “Entry Mode and Location of Foreign Manufacturing Enterprises in China”, Eurasian Geography and Economics, 44, 443-461.
  • Hejazi, Walid ve A. E. Safarian (2001), “The Complementarity Between U.S. Foreign Direct Investment Stock and Trade”, American Economic Journal, Vol. 29, No. 4.
  • Huber, Peter J. (1967), The Behavior of Maximum Likelihood Estimates Under Nonstandard Conditions, Proc. Fifth Berkeley Symp. on Math. Statist. and Prob., Vol. 1 (Univ. of Calif. Press, 1967), 221-233
  • Hufbauer, G., D. Lakdawalla ve A. Malan (1994), “Determinants of Direct Foreign Investment and its Connection to Trade”, Unctad Review, ss.39-51.
  • Im, K.S., M.H. Pesaran ve Y. Shin (2003), “Testing for Unit Roots in Heterogeneous Panels”, Journal of Econometrics, Vol. 115, pp. 53-74.
  • Isard, W. (1956), Location and Space Economy, MIT Press, Cambridge.
  • Kleiber, Christian ve Achim Zeileis (2006), Applied Econometrics with R, Springer-Verlag, New York.
  • Kmenta, Jan (1986), Elements of Econometrics (Second ed.), New York: Macmillan, pp. 302–320.
  • Krugman, P. (1993). On the number and location of cities. European Economic Review, 37(2-3), 293-298.
  • Krugman, P. R. (2008). International economics: Theory and policy, 8/E. Pearson Education India.
  • Levin, A., C.F. Lin, ve C.Chu (2002), “Unit Root Tests in Panel Data: Asymptotic and Finite-Sample Properties”, Journal of Econometrics, Vol. 108, 2002, pp. 1-24.
  • Lipsey, Robert E. ve Merle Y. Weiss (1981), “Foreign Production and Exports in Manufacturing Industries”, The Review of Economics and Statistics, Vol. 63, No. 4.
  • Lipsey, Robert E. ve Merle Y. Weiss (1984), “Foreign Production and Exports of Individual Firms”, The Review of Economics and Statistics, Vol. 66, No. 2.
  • Loewendahl, Henry ve Ebru Ertugal-Loewendahl (2001), Turkey’s Performance in Attracting Foreign Direct Investment: Implications of EU Enlargement. No. 008.
  • Lösch, A. (1954), The Economics of Location, Çeviren: by W. H. Woglom, Yale University Press, New Haven.
  • Mayer, T., Méjean, I., ve Nefussi, B. (2007), Locating in France or Abroad: the Choice of French Firms.
  • Ohlin, B. ve Ohlin, B. G. (1979), Some Insufficiencies in the Theories of International Economic Relations, International Finance Section, Department of Economics, Princeton University.
  • Parks, R. (1967), Efficient Estimation of a System of Regression Equations When Disturbances Are Both Serially and Contemporaneously Correlated, Journal of the American Statistical Association, 62: 500–509.
  • Pöyhönen, P. (1963), A Tentative Model for the Volume of Trade Between Countries, Weltwirtschaftliches Archiv, 93-100.
  • Rogers, W. H. (1993), Regression Standard Errors in Clustered Samples, Stata Technical Bulletin 13: 19-23, In Stata Technical Bulletin Reprints, vol. 3, 88–94. College Station, TX: Stata Press.
  • STATA Manual, (2014), Linear Regression with Panel-corrected Standard Errors: xtxtpcse, http://www.stata.com/manuals13/xtxtpcse.pdf, 06.10.2014.
  • Tarı, Recep (2010), Ekonometri, 6. Basım, Umuttepe Yayın No: 32, Kocaeli.
  • Tatoğlu, Ferda Yerdelen (2012), Panel Veri Ekonometrisi, Beta Yayınevi.
  • Tinbergen, J. (1962), “Shaping The World Economy: Suggestions For An International Economic Policy, New York, The Twentieth Century Fund, pp.146-161.
  • Vogiatzoglou, Klimis (2007), “Vertical Specialization And New Determinants Of Fdı: Evidence From South And East Asia”, Global Economic Review 36:3, pp. 245-266.
  • White, Halbert (1980), “A Heteroskedasticity-Consistent Covariance Matrix Estimator and a Direct Test for Heteroskedasticity”, Econometrica 48 (4): 817–838.
  • Woodward, D. P. (1992), “Locational Determinants of Japanese Manufacturing Start-Ups in the United States”, Southern Economic Journal, 58, 690-708.
  • Wooldridge, Jeffrey M. (2012), Introductory Econometrics: A Modern Approach, South-Western Pub, 2. Bs. 2002
  • Yamawaki, H. (1991). Exports, and foreign distributional activities: evidence on Japanese firms in the United States. The Review of Economics and Statistics, 294-300.
  • Yavan, Nuri (2006), Türkiye’de Doğrudan Yabancı Yatırımların Lokasyon Seçimi Üzerine Uygulamalı Bir Araştırma, Yayınlanmamış Doktora Tezi, T.C. Ankara Üniversitesi Sosyal Bilimler Enstitüsü, Ankara.
  • Zhang, Kevin H. ve S. Song (2002), “Promoting Exports: The Role of Inward FDI in China”, China Economic Review, Vol. 11, s. 385-396.

Komşu Ülkelerle Yapılan Dış Ticaretin DYY Girişleri Üzerine Etkisi: Gelişmekte Olan Ülkeler İçin Panel Veri Analiz

Yıl 2017, Cilt: 3 Sayı: 1, 63 - 80, 01.03.2017

Engin Dücan Mustafa Akal

Öz

Doğrudan yabancı yatırım (DYY) kararları açısından, hedef ülkenin teknolojik yeterliliği, üretim verimliliği, maliyet avantajları yanında dışa açıklığı da oldukça önemlidir. 1990’lı yılların başında yoğunlaşan liberalleşme politikaları gelişmekte olan ülkelere yönelik DYY akımlarını arttırmıştır. Bu çalışmada, Gelişmekte olan ülkelerin komşularıyla olan ticari ilişkileri ölçüsünde sundukları geniş piyasa hacmi avantajı ve ham madde ve yarı mamul tedariki avantajının DYY girişlerine etkisi araştırılmıştır. Yapılan analizler sonrasında, 94 gelişmekte olan ülkenin ele alındığı veri seti için sabit etkiler modelinin uygun olduğu bulunmuştur. Modelimizin varsayımları sağlayıp sağlamadığı test edilmi ve varsayımlardan sapmalara karşı geliştirilen Parks- Kmenta (GEKK), Beck-Katz (PCSEs) ve Driscoll-Kraay dirençli standart tahmincileriyle tahmin edilmiştir. Analiz sonucunda, komşu ülkeler ile yapılan ticaretin DYY girişleri üzerinde olumlu etkisi olduğu bulunmuştur.

Anahtar Kelimeler

Dış Ticaret Doğrudan Yabancı Yatırımlar Çekim Modeli Panel Veri Analizi Sabit Etkiler Modeli

Kaynakça

  • Abumera, S. (1978), “Multinationals, Location Theory and Regional Development: Case of Bendel State of Nigeria”, Regional Studies, 12, 651-664.
  • Alguacil, M. T. ve V. Orts (2003), “Inward Foreign Direct Investment and Imports in Spain”, International Economic Journal, Volume 17, No. 3.
  • Arellano, M. (1987), “Computing Robust Standard Errors for Within-Group Estimators”, Oxford Bulletin of Economics and Statistics, 49, 431-434
  • Bajo-Rubıo, Oscar ve Montero-Munoz M. (2001), “Foreign Direct Investment and Trade: A Causality Analysis”, Open Economies Review, 12, s. 305-323.
  • Beck, N. and J. N. Katz (1995), What to Do (and not to Do) with Time-series Cross-Section Data, American Political Science Review 89, 634-47.
  • Brainard S. (1993), Asimple Theory of Multinational Corporations and Trade with a Trade-off BetweenProximity and Concentration, NBER Working paper No.4269, February.
  • Chakrabarti, Avik (2003), “A Theory of The Spatial Distribution of Foreign Direct Investment”, International Review of Economics and Finance, Vol. 12, No.2, s. 149–169
  • Chen, Y., ve Chen, J. (2009), The impact of FDI on regional technological capabilities: evidence from China, Journal of Knowledge-Based Innovation in China, 1(2), 143-158.
  • Crozet, M., T. Mayer ve J.L. Mucchielli (2004), “How Do Firms Agglomerate? A Study of FDI in France”, Regional Science and Urban Economics, 34, 27-54.
  • De Mello Jr, L. R., & Fukasaku, K. (2000), Trade and foreign direct investment in Latin America and Southeast Asia: temporal causality analysis, Journal of International development, 12(7), 903.
  • Dicken, Peter (1998), Global Shift: Transforming the World Economy.
  • Dinler, Zeynel (1978), Bölgesel İktisat, Bursa İktisadi ve Ticari İlimler Akademisi.
  • Dunning, J. H. (1993), Multinational Enterprises and the Global Economy, Addison-Wesley, New York.
  • Eicker, Friedhelm (1967), Limit Theorems for Regressions with Unequal and Dependent Errors, Proc. Fifth Berkeley Symp. on Math. Statist. and Prob., Vol. 1 (Univ. of Calif. Press, 1967), 59- 82
  • Friedman, J., D.A. Gerlowski ve J. Silberman (1992), “What Attracts Foreign Multinational Corporations? Evidence From Branch Plant Location in The United States”, Journal of Regional Science, 32, 403-418.
  • Froot, K. A. (1989), Consistent Covariance Matrix Estimation with Cross-Sectional Dependence and Heteroskedasticity in Financial Data, Journal of Financial and Quantitative Analysis 24: 333–355.
  • Granger, C. W., ve Newbold, P. (1974), Spurious regressions in econometrics, Journal of econometrics, 2(2), 111-120.
  • Greene, William H. (2003), Econometric Analysis, Fifth Edition, Pearson Education, Upper Saddle River, New Jersey.
  • Gujarati, Damodar N. (2004), Basic Econometrics, Fourth Edition, New York: The McGraw-Hill.
  • Hanink, D. M. (1997), Principles and Applications of Economic Geography, John Wiley & Sons, New York.
  • He, C. (2003a), “Location of Foreign Manufacturers in China: Agglomeration Economies and Country of Origin Effects”, Papers Regional Science, 82, 351–372.
  • He, C. (2003b), “Entry Mode and Location of Foreign Manufacturing Enterprises in China”, Eurasian Geography and Economics, 44, 443-461.
  • Hejazi, Walid ve A. E. Safarian (2001), “The Complementarity Between U.S. Foreign Direct Investment Stock and Trade”, American Economic Journal, Vol. 29, No. 4.
  • Huber, Peter J. (1967), The Behavior of Maximum Likelihood Estimates Under Nonstandard Conditions, Proc. Fifth Berkeley Symp. on Math. Statist. and Prob., Vol. 1 (Univ. of Calif. Press, 1967), 221-233
  • Hufbauer, G., D. Lakdawalla ve A. Malan (1994), “Determinants of Direct Foreign Investment and its Connection to Trade”, Unctad Review, ss.39-51.
  • Im, K.S., M.H. Pesaran ve Y. Shin (2003), “Testing for Unit Roots in Heterogeneous Panels”, Journal of Econometrics, Vol. 115, pp. 53-74.
  • Isard, W. (1956), Location and Space Economy, MIT Press, Cambridge.
  • Kleiber, Christian ve Achim Zeileis (2006), Applied Econometrics with R, Springer-Verlag, New York.
  • Kmenta, Jan (1986), Elements of Econometrics (Second ed.), New York: Macmillan, pp. 302–320.
  • Krugman, P. (1993). On the number and location of cities. European Economic Review, 37(2-3), 293-298.
  • Krugman, P. R. (2008). International economics: Theory and policy, 8/E. Pearson Education India.
  • Levin, A., C.F. Lin, ve C.Chu (2002), “Unit Root Tests in Panel Data: Asymptotic and Finite-Sample Properties”, Journal of Econometrics, Vol. 108, 2002, pp. 1-24.
  • Lipsey, Robert E. ve Merle Y. Weiss (1981), “Foreign Production and Exports in Manufacturing Industries”, The Review of Economics and Statistics, Vol. 63, No. 4.
  • Lipsey, Robert E. ve Merle Y. Weiss (1984), “Foreign Production and Exports of Individual Firms”, The Review of Economics and Statistics, Vol. 66, No. 2.
  • Loewendahl, Henry ve Ebru Ertugal-Loewendahl (2001), Turkey’s Performance in Attracting Foreign Direct Investment: Implications of EU Enlargement. No. 008.
  • Lösch, A. (1954), The Economics of Location, Çeviren: by W. H. Woglom, Yale University Press, New Haven.
  • Mayer, T., Méjean, I., ve Nefussi, B. (2007), Locating in France or Abroad: the Choice of French Firms.
  • Ohlin, B. ve Ohlin, B. G. (1979), Some Insufficiencies in the Theories of International Economic Relations, International Finance Section, Department of Economics, Princeton University.
  • Parks, R. (1967), Efficient Estimation of a System of Regression Equations When Disturbances Are Both Serially and Contemporaneously Correlated, Journal of the American Statistical Association, 62: 500–509.
  • Pöyhönen, P. (1963), A Tentative Model for the Volume of Trade Between Countries, Weltwirtschaftliches Archiv, 93-100.
  • Rogers, W. H. (1993), Regression Standard Errors in Clustered Samples, Stata Technical Bulletin 13: 19-23, In Stata Technical Bulletin Reprints, vol. 3, 88–94. College Station, TX: Stata Press.
  • STATA Manual, (2014), Linear Regression with Panel-corrected Standard Errors: xtxtpcse, http://www.stata.com/manuals13/xtxtpcse.pdf, 06.10.2014.
  • Tarı, Recep (2010), Ekonometri, 6. Basım, Umuttepe Yayın No: 32, Kocaeli.
  • Tatoğlu, Ferda Yerdelen (2012), Panel Veri Ekonometrisi, Beta Yayınevi.
  • Tinbergen, J. (1962), “Shaping The World Economy: Suggestions For An International Economic Policy, New York, The Twentieth Century Fund, pp.146-161.
  • Vogiatzoglou, Klimis (2007), “Vertical Specialization And New Determinants Of Fdı: Evidence From South And East Asia”, Global Economic Review 36:3, pp. 245-266.
  • White, Halbert (1980), “A Heteroskedasticity-Consistent Covariance Matrix Estimator and a Direct Test for Heteroskedasticity”, Econometrica 48 (4): 817–838.
  • Woodward, D. P. (1992), “Locational Determinants of Japanese Manufacturing Start-Ups in the United States”, Southern Economic Journal, 58, 690-708.
  • Wooldridge, Jeffrey M. (2012), Introductory Econometrics: A Modern Approach, South-Western Pub, 2. Bs. 2002
  • Yamawaki, H. (1991). Exports, and foreign distributional activities: evidence on Japanese firms in the United States. The Review of Economics and Statistics, 294-300.
  • Yavan, Nuri (2006), Türkiye’de Doğrudan Yabancı Yatırımların Lokasyon Seçimi Üzerine Uygulamalı Bir Araştırma, Yayınlanmamış Doktora Tezi, T.C. Ankara Üniversitesi Sosyal Bilimler Enstitüsü, Ankara.
  • Zhang, Kevin H. ve S. Song (2002), “Promoting Exports: The Role of Inward FDI in China”, China Economic Review, Vol. 11, s. 385-396.
Toplam 52 adet kaynakça vardır.

Ayrıntılar

Birincil Dil Türkçe
Bölüm Research Article
Yazarlar

Engin Dücan

Mustafa Akal

Yayımlanma Tarihi 1 Mart 2017
Yayımlandığı Sayı Yıl 2017 Cilt: 3 Sayı: 1

Kaynak Göster

APA Dücan, E., & Akal, M. (2017). Komşu Ülkelerle Yapılan Dış Ticaretin DYY Girişleri Üzerine Etkisi: Gelişmekte Olan Ülkeler İçin Panel Veri Analiz. Uluslararası Ekonomik Araştırmalar Dergisi, 3(1), 63-80.
AMA Dücan E, Akal M. Komşu Ülkelerle Yapılan Dış Ticaretin DYY Girişleri Üzerine Etkisi: Gelişmekte Olan Ülkeler İçin Panel Veri Analiz. UEAD. Mart 2017;3(1):63-80.
Chicago Dücan, Engin, ve Mustafa Akal. “Komşu Ülkelerle Yapılan Dış Ticaretin DYY Girişleri Üzerine Etkisi: Gelişmekte Olan Ülkeler İçin Panel Veri Analiz”. Uluslararası Ekonomik Araştırmalar Dergisi 3, sy. 1 (Mart 2017): 63-80.
EndNote Dücan E, Akal M (01 Mart 2017) Komşu Ülkelerle Yapılan Dış Ticaretin DYY Girişleri Üzerine Etkisi: Gelişmekte Olan Ülkeler İçin Panel Veri Analiz. Uluslararası Ekonomik Araştırmalar Dergisi 3 1 63–80.
IEEE E. Dücan ve M. Akal, “Komşu Ülkelerle Yapılan Dış Ticaretin DYY Girişleri Üzerine Etkisi: Gelişmekte Olan Ülkeler İçin Panel Veri Analiz”, UEAD, c. 3, sy. 1, ss. 63–80, 2017.
ISNAD Dücan, Engin - Akal, Mustafa. “Komşu Ülkelerle Yapılan Dış Ticaretin DYY Girişleri Üzerine Etkisi: Gelişmekte Olan Ülkeler İçin Panel Veri Analiz”. Uluslararası Ekonomik Araştırmalar Dergisi 3/1 (Mart 2017), 63-80.
JAMA Dücan E, Akal M. Komşu Ülkelerle Yapılan Dış Ticaretin DYY Girişleri Üzerine Etkisi: Gelişmekte Olan Ülkeler İçin Panel Veri Analiz. UEAD. 2017;3:63–80.
MLA Dücan, Engin ve Mustafa Akal. “Komşu Ülkelerle Yapılan Dış Ticaretin DYY Girişleri Üzerine Etkisi: Gelişmekte Olan Ülkeler İçin Panel Veri Analiz”. Uluslararası Ekonomik Araştırmalar Dergisi, c. 3, sy. 1, 2017, ss. 63-80.
Vancouver Dücan E, Akal M. Komşu Ülkelerle Yapılan Dış Ticaretin DYY Girişleri Üzerine Etkisi: Gelişmekte Olan Ülkeler İçin Panel Veri Analiz. UEAD. 2017;3(1):63-80.