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Dynamic Linkages Among Foreign Direct Investment, Public Investment And Private Investment: Evidence From Turkey

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  • SAGLAM, B. Bayraktar
  • Yalta, A.Y

Abstract

This study seeks to provide evidence on the dynamic interactions among foreign direct investment (FDI), private domestic investment and public domestic investment in Turkey for the period 1970-2009 using a multivariate VAR framework. Our findings indicate that there is no long-run relationship between FDI, public investment and private investment, indicating the poor contribution of FDI to the Turkish investment path. The lack of interaction between FDI and domestic investment, which impedes the contribution of FDI to economic growth from capital accumulation channel, questions the benefits of FDI. These results suggest that special emphasis should be given to improving investment climate.

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Bibliographic Info

Article provided by Euro-American Association of Economic Development in its journal Applied Econometrics and International Development.

Volume (Year): 11 (2011)
Issue (Month): 2 ()
Pages:

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Handle: RePEc:eaa:aeinde:v:11:y:2011:i:2_6

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Related research

Keywords: foreign direct investment; private investment; public investment.;

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  1. Luiz de Mello, 1997. "Foreign direct investment in developing countries and growth: A selective survey," Journal of Development Studies, Taylor & Francis Journals, vol. 34(1), pages 1-34.
  2. Guncavdi, Oner & Bleaney, Michael & McKay, Andrew, 1998. "Financial liberalisation and private investment: evidence from Turkey," Journal of Development Economics, Elsevier, vol. 57(2), pages 443-455.
  3. L.R. de Mello Jr., 1996. "Foreign Direct Investment-Led Growth: Evidence from Time Series and Panel Data," Studies in Economics 9615, Department of Economics, University of Kent.
  4. Van Loo, Frances, 1977. "The Effect of Foreign Direct Investment on Investment in Canada," The Review of Economics and Statistics, MIT Press, vol. 59(4), pages 474-81, November.
  5. Nigel Driffield & Dylan Hughes, 2003. "Foreign and Domestic Investment: Regional Development or Crowding Out?," Regional Studies, Taylor & Francis Journals, vol. 37(3), pages 277-288.
  6. Samih GÜVEN, 2001. "Sermaye Hareketlerinin Nedenleri, Etkileri Ve Türkiye Örneği," Iktisat Isletme ve Finans, Bilgesel Yayincilik, vol. 16(185), pages 79-98.
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