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The Relationship between Trade Openness-Foreign Direct Investment and Economic Growth: The Case of BRICS-T Countries

Year 2022, Volume: 6 Issue: 1, 109 - 146, 29.08.2022
https://doi.org/10.33399/biibfad.937591

Abstract

With globalization, the volume of goods and capital moving across borders has increased worldwide. In order to benefit from this increase, countries that implement export-oriented growth policies and policies that facilitate the inflow of foreign direct investment (FDI) can achieve high economic growth rates. This study aims to contribute to the literature by investigating the trade openness, foreign direct investment and growth nexus in the group of emerging market economies called BRICS-T (Brazil, Russia, India, China, South Africa and Turkey) for the period 1992-2019 using panel data analysis methods. As a result of the analysis, a bidirectional Granger causality was found between trade openness and growth and a one-way Granger causality relationship from growth to foreign direct investments. However, causality relationships between trade openness and foreign direct investment are only found in India and South Africa. In addition, one-way causality relationships, running from growth to trade openness and from growth to foreign direct investment, were found for Turkey. The findings of the study imply that trade openness may have an indirect effect on foreign direct investment through economic growth.

References

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Ticari Dışa Açıklık-Doğrudan Yabancı Yatırımlar-Ekonomik Büyüme İlişkisi: BRICS-T Ülkeleri Örneği

Year 2022, Volume: 6 Issue: 1, 109 - 146, 29.08.2022
https://doi.org/10.33399/biibfad.937591

Abstract

Küreselleşme ile birlikte tüm dünyada sınırlararası hareket eden malların ve sermayenin hacmi artmıştır. Bu artıştan faydalanmak için ihracat odaklı büyüme ve doğrudan yabancı yatırımların girişini kolaylaştıran politikalar uygulayan ülkeler yüksek bir ekonomik büyüme hızı yakalayabilmektedirler. Bu çalışma BRICS-T (Brezilya, Rusya, Hindistan, Çin, Güney Afrika ve Türkiye) olarak adlandırılan yükselen piyasa ekonomilerinde ticari açıklığın ve doğrudan yabancı yatırım ve büyüme ilişkisini 1992-2019 dönemi için panel veri analizi yöntemleri ile inceleyerek literatüre katkı sağlamayı amaçlamaktadır. Analiz sonucunda, BRICS-T ülkelerinden oluşan panel için çalışma döneminde ticari açıklık ve büyüme arasında çift yönlü bir nedensellik ilişkisi ve büyümeden doğrudan yabancı yatırımlara doğru tek yönlü nedensellik ilişkisi bulunmuştur. Bununla birlikte, sadece Hindistan ve Güney Afrika için ticari açıklık ve doğrudan yabancı yatırımlar arasında nedensellik ilişkilerine rastlanmıştır. Türkiye için büyümeden ticari açıklığa ve büyümeden doğrudan yabancı yatırımlara doğru tek yönlü nedensellik ilişkileri bulunmuştur. Çalışmanın bulguları panel için ticari dışa açıklığın doğrudan yabancı yatırımları dolaylı olarak büyüme üzerinden etkileyebileceğine işaret etmektedir.

References

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Details

Primary Language Turkish
Subjects Economics
Journal Section Makaleler
Authors

Tuğba Karaca This is me 0000-0001-7955-138X

Nermin Güney 0000-0002-5744-6746

Sertaç Hopoğlu 0000-0002-9541-2352

Early Pub Date August 29, 2022
Publication Date August 29, 2022
Submission Date May 17, 2021
Published in Issue Year 2022 Volume: 6 Issue: 1

Cite

APA Karaca, T., Güney, N., & Hopoğlu, S. (2022). Ticari Dışa Açıklık-Doğrudan Yabancı Yatırımlar-Ekonomik Büyüme İlişkisi: BRICS-T Ülkeleri Örneği. Bingöl Üniversitesi İktisadi Ve İdari Bilimler Fakültesi Dergisi, 6(1), 109-146. https://doi.org/10.33399/biibfad.937591


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