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Foreign Direct Investment and International Trade in Turkey: Time-Series-Cross-Section Methods

Author

Listed:
  • Erginbay Uğurlu

    (Hitit University)

  • Yılmaz Bayar

    (Karabuk University)

Abstract

Global foreign direct investments have increased substantially in the world together with the financial integration of world economy especially since 1980s. International trade and foreign direct investment are important for all economies especially in emerging markets like Turkey. Additionally, these two variables are tightly related.This paper examines the relationship between foreign direct investment and international trade in Turkey for a panel of 44 countries during the period 2001 - 2011, using annual data. We use PCSE and FGLS methods to estimate the models. We found a complementary relationship both between outward FDI and export and outward FDI and import while inward FDI has no effect on export and import.

Suggested Citation

  • Erginbay Uğurlu & Yılmaz Bayar, 2014. "Foreign Direct Investment and International Trade in Turkey: Time-Series-Cross-Section Methods," Ekonomik Yaklasim, Ekonomik Yaklasim Association, vol. 25(91), pages 69-84.
    • Handle: RePEc:eyd:eyjrnl:v:25:y:2014:i:91:p:69-84
    DOI: 10.5455/ey.35413
    Note: [Turkish Title] Türkiye’de Doğrudan Yabancı Sermaye Yatırımları ve Uluslararası Ticaret: Zaman- Serisi-Yatay-Kesit Analizi [Turkish Abstract] Özellikle 1980’li yıllardan sonra dünya ekonomisindeki finansal bütünleşme ile birlikte, küresel doğrudan yabancı sermaye yatırımları dünyada önemli ölçüde artış göstermiştir. Uluslararası ticaret ve doğrudan yabancı sermaye yatırımları özellikle Türkiye gibi yükselen piyasalar başta olmak üzere bütün ekonomiler için önem arz etmektedir. Ayrıca söz konusu iki değişken birbiriyle sıkı ilişkilidir. Bu çalışma 2001-2011 döneminde yıllık veriler kullanarak 44 ülkeden oluşan panel ile Türkiye’de doğrudan yabancı sermaye yatırımları ve uluslararası ticaret arasındaki ilişkiyi incelemektedir. Çalışmada kullanılacak modellerin tahmini için PCSE ve FGLS yöntemleri kullanılmıştır. Çalışma sonucunda doğrudan yabancı sermaye çıkışı ile ihracat ve ithalat arasında tamamlayıcı bir ilişki olduğu, doğrudan yabancı sermaye girişinin ihracat ve ithalat üzerinde herhangi bir etkiye sahip olmadığı tespit edilmiştir. [Turkish Keywords] Doğrudan Yabancı Sermaye Yatırımları, Uluslararası Ticaret, Küreselleşme, Zaman Serisi Yatay Kesit (ZSYK) Verisi.
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    Keywords

    Foreign Direct Investments; International Trade; Globalization; Time Series Cross Section (TSCS) Data.;
    All these keywords.

    JEL classification:

    • F10 - International Economics - - Trade - - - General
    • F40 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - General
    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models

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