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Journals / Business and Economics Research Journal / 2019 / Cilt: 10 - Sayı: 1

The Impact of Foreign Direct Investments on Economic Growth in Transition Economies: Dynamic Panel Data Analysis

Geçiş Ekonomilerinde Doğrudan Yabancı Yatırımların Ekonomik Büyüme Üzerine Etkisi: Dinamik Panel Veri Analizi

MUSTAFA ÖZÇAĞ
E. Yasemin BOZDAĞLIOĞLU
HATİCE KÜÇÜKKAYA
Pages
41–53
DOI
—
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AI Summary & Key Takeaways

AI Insight
⚡ TL;DR(Too Long; Didn't Read)

The most striking result of working is; if foreign direct investment is supported by human capital growth, it will have much more impact on economic growth.

📌 3 Key Takeaways

🎯
Objective & Hypothesis:In the transition economies, together with the transition process, positive developments in economic growth performances can be seen.
📊
Key Findings & Data:In this study, the impact of foreign direct investment on the economic growth rates of 27 transition economies for the period 1997- 2016 is modeled within the theories of neoclassical and endogenous growth.
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Conclusion & Impact:The most striking result of working is; if foreign direct investment is supported by human capital growth, it will have much more impact on economic growth.
🔬Design:Modeling & Simulation
📍Scope:2016 Verileri
⚙️Variables:Domain Parameters

Abstract

In the transition economies, together with the transition process, positive developments in economic growth performances can be seen. In this study, the impact of foreign direct investment on the economic growth rates of 27 transition economies for the period 1997- 2016 is modeled within the theories of neoclassical and endogenous growth. In order to investigate this effect in the framework of Neoclassical and endogenous growth theories, the human capital factor also plays an important role. For this reason, the relationship between foreign direct investment and economic growth for the specified period is tested with the estimators Arellano-Bond, Arellano-Bondmax and Arellano-Bond 2 Stage GMM (Generalized Method of Moments) which are current dynamic panel model estimators. Economic growth, human capital and trade volume variables are statistically significant and the coefficients are positive. The most striking result of working is; if foreign direct investment is supported by human capital growth, it will have much more impact on economic growth.

Özet

Geçiş ekonomilerinin ekonomik büyüme trendleri incelendiğinde, geçiş süreci ile birlikte söz konusu ülkelerin ekonomik büyüme performanslarında olumlu gelişmelerin ortaya çıktığı görülebilmektedir. Bu çalışmada, 1997-2016 dönemi için 27 geçiş ekonomisine giriş yapan doğrudan yabancı yatırımların ekonomik büyüme oranlarına olan etkisi Neoklasik ve içsel büyüme teorileri çerçevesinde modellenmektedir. Neoklasik ve İçsel Büyüme Teorileri çerçevesinde bu etkinin araştırılabilmesi için beşeri sermaye faktörü de önemli rol oynamaktadır. Çalışmada, incelenen dönem için doğrudan yabancı yatırımlar ve ekonomik büyüme arasındaki ilişki, güncel dinamik panel tahmincilerinden olan Arellano-Bond, Arellano-Bondmax ve Arellano-Bond 2 aşamalı GMM (Genelleştirilmiş Momentler Metodu) tahmincileri ile test edilmektedir. Modelde tahmin edilen ekonomik büyüme oranları, beşeri sermaye ve ticaret hacmi değişkenlerinin değerlerinin istatistiksel olarak anlamlı ve katsayılarının pozitif olduğu sonucuna ulaşılmaktadır. Çalışmanın en dikkat çekici noktası ise; doğrudan yabancı yatırımların beşeri sermaye artışı ile desteklenmesi durumunda ekonomik büyüme üzerinde çok daha fazla etki yaratabileceği sonucudur.

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Cite This Article

ÖZÇAĞ, M., BOZDAĞLIOĞLU, E. Y., KÜÇÜKKAYA, H. (2019). The Impact of Foreign Direct Investments on Economic Growth in Transition Economies: Dynamic Panel Data Analysis. Business and Economics Research Journal, Cilt: 10 - Sayı: 1, 41–53. https://ajindex.com/articles/149463

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