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An Econometric Analysis of Foreign Direct Investment Flows into Turkey from Major Global Regions: 1975-1999

  • Ferda Halicioglu

    (The University of Greenwich, London)

This paper analyses the determinants of inward foreign direct investment (FDI) flows into Turkey from four major geographical regions and at aggregate level with a special emphasis on Turkey’s application to the European Union (EU) to become a full member in 1987. In contrast to previous studies this paper divides the inward FDI flows into Turkey from four major trading blocks and estimates separate FDI function for each region in addition to the aggregate FDI function. It is found that Turkey has experienced both “investment creation and diversion” effects as a result of her membership application to the EU in addition to the market size hypothesis. This paper also compares and contrasts the short and long run FDI functions of Turkey by the source of geographical regions and at aggregate level and draws conclusions from there.

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Paper provided by EconWPA in its series International Trade with number 0503004.

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Date of creation: 11 Mar 2005
Date of revision:
Handle: RePEc:wpa:wuwpit:0503004
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  1. Barrell, Ray & Pain, Nigel, 1996. "An Econometric Analysis of U.S. Foreign Direct Investment," The Review of Economics and Statistics, MIT Press, vol. 78(2), pages 200-207, May.
  2. Mercenier, Jean & Yeldan, Erinc, 1997. "On Turkey's trade policy: Is a customs union with Europe enough?," European Economic Review, Elsevier, vol. 41(3-5), pages 871-880, April.
  3. Jamuna Agarwal, 1980. "Determinants of foreign direct investment: A survey," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 116(4), pages 739-773, December.
  4. Susan Scott-Green & Jeremy Clegg, 1999. "The Determinants of New FDI Capital Flows into the EC: A Statistical Comparison of the USA and Japan," Journal of Common Market Studies, Wiley Blackwell, vol. 37(4), pages 597-616, December.
  5. Harrison, Glenn W. & Rutherford, Thomas F. & Tarr, David G., 1996. "Economic implications for Turkey of a customs union with the European Union," Policy Research Working Paper Series 1599, The World Bank.
  6. Chakrabarti, Avik, 2001. "The Determinants of Foreign Direct Investment: Sensitivity Analyses of Cross-Country Regressions," Kyklos, Wiley Blackwell, vol. 54(1), pages 89-113.
  7. Kyriacos Aristotelous & Stilianos Fountas, 1996. "An Empirical Analysis of Inward Foreign Direct Investment Flows in the EU with Emphasis on the Market Enlargement Hypothesis," Journal of Common Market Studies, Wiley Blackwell, vol. 34(4), pages 571-583, December.
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