THE EFFECT OF FOREIGN DIRECT INVESTMENTS ON THE ECONOMIC GROWTH OF THE MEDITERRANEAN COUNTRIES: CASE OF TURKEY AND MOROCCO
Yıl: 2018 Cilt: 13 Sayı: 14 Sayfa Aralığı: 67 - 82 Metin Dili: İngilizce DOI: 10.7827/TurkishStudies.13511 İndeks Tarihi: 09-07-2019
THE EFFECT OF FOREIGN DIRECT INVESTMENTS ON THE ECONOMIC GROWTH OF THE MEDITERRANEAN COUNTRIES: CASE OF TURKEY AND MOROCCO
Öz: Purpose of this research is to analyze the impacts of foreign directinvestment on the economic growth of the Mediterranean countries: case ofMorocco and Turkey. The study aims to unveil if the FDI has always apositive impacts on the economic growth and showing by a comparativeanalysis the effects of foreign direct investment on the economic growthbetween Morocco and Turkey. The study was done by using the panel databetween the period 1990-2016 and by utilizing the Vector Error CorrectionModel (VECM) methodology.The collected data from the world bank of theboth countries were analyzed by using the tools, the Augmented DickeyFuller (ADF) test, then Johansen test for Cointegration, there after VECM,and finally Impulse Response Function (IRF). The ADF test results indicatethat all variables became stationary after taking the first difference, andthey be integrated of order one I (1). Johansen Cointegration test resultsmeans that these four variables have a long run association shape, whichargue the existence of a cointegration among the variables. In Morocco,Normalised long run estimates indicated FDI has a significant negativeconnection with economic growth, while the export and investment werefound to have a significant positive impact on the economic growth.However, Labor has an insignificant negative impact on the economicgrowth, though statistically insignificant. From the estimated short run, itnoticed that most of the variables are statistically insignificant .Impulseresponse function displayed that the reaction of a shock on foreign directinvestment and export was positive, whereas the reaction to a shock in forcelabor and investment was negative. On the other hand, in Turkey,Normalised long run estimates showed. That all the variables have asignificant positive linkage with economic growth. From the estimated shortrun, it has shown that most of the variables are statistically insignificant. Impulse response function (IRF) can be seen that following a shock to FDI,export, investment and force labor, The GDP was found to respond positivelyfrom the first period horizon up to the tenth period.
Anahtar Kelime: AKDENİZ ÜLKELERİNDE DOĞRUDAN YABANCI YATIRIMLARIN EKONOMİK BÜYÜME ÜZERİNDEKİ ETKİSİ: TÜRKİYE VE FAS ÖRNEĞİ
Öz: Bu çalışmanın amacı doğrudan yabancı yatırımların Akdenize kıyısı olan ülkelerden Türkiye ve Fas’ın ekonomik büyümelerine olan etkilerini analiz etmektir. Çalışma doğrudan yabancı yatırımların ülkenin ekonomik gelişimine her zaman olumlu etkisinin olup olmadığını Türkiye ve Fas üzerinden karşılaştırmalı olarak incelemeyi hedeflemektedir. Çalışmada 1990-2016 yılları arası için Dünya Bankasından elde edilen veriler panel veri analizi, The Augmented Dickey Fuller (ADF) testi, ardından Johansen Eşbütünleşme testi, sonrasında Vector Error Correction Model (VECM) ve son olarak Impulse Response Function (IRF) kullanılarak sonuca ulaşılmaya çalışılmıştır. Fas için normalleştirilmiş uzun dönemli tahminler şunu göstermektedir ki; doğrudan yabancı yatırımların ekonomik büyümeyle negatif bir ilişkisi varken, ihracat ve yatırımların ekonomik büyüme üzerinde olumlu bir etkisi vardır. Bununla beraber işgücünün ekonomik büyüme üzerinde, istatiksel olarak önemsiz sayılabilecek düzeyde, negatif etkisi vardır. Kısa dönemli tahminler ise değişkenlerin istatiksel olarak önemsiz sayılabilecek düzeyde kaldığını göstermektedir. Etki-tepki işlevi (IRF) göstermiştir ki bir şoka karşı verilen tepkinin doğrudan yabancı yatırım ve ihracat üzerindeki etkisi pozitifken, işgücü ve yatırımlar üzerinde negatiftir. Diğer taraftan Türkiye için normalleştirilmiş uzun dönemli tahminler şunu göstermektedir ki bütün değişkenlerin ekonomik büyümeyle önemli ölçüde pozitif bir ilişkisi vardır. Kısa dönemli tahminler ise değişkenlerin çoğunun istatiksel olarak önemsiz derecede olduğunu göstermektedir. Etki-tepki işlevi (IRF) ise, doğrudan yabancı yatırım, ihracat, yatırım ve işgücündeki bir şoka GSMH’nın ilk dönemden onuncu döneme kadar pozitif tepki verdiğini göstermektedir.
Anahtar Kelime: Belge Türü: Makale Makale Türü: Araştırma Makalesi Erişim Türü: Erişime Açık
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| APA | Ersoy A, AALIOUA M (2018). THE EFFECT OF FOREIGN DIRECT INVESTMENTS ON THE ECONOMIC GROWTH OF THE MEDITERRANEAN COUNTRIES: CASE OF TURKEY AND MOROCCO. , 67 - 82. 10.7827/TurkishStudies.13511 |
| Chicago | Ersoy Ahmet Yağmur,AALIOUA Mohamed THE EFFECT OF FOREIGN DIRECT INVESTMENTS ON THE ECONOMIC GROWTH OF THE MEDITERRANEAN COUNTRIES: CASE OF TURKEY AND MOROCCO. (2018): 67 - 82. 10.7827/TurkishStudies.13511 |
| MLA | Ersoy Ahmet Yağmur,AALIOUA Mohamed THE EFFECT OF FOREIGN DIRECT INVESTMENTS ON THE ECONOMIC GROWTH OF THE MEDITERRANEAN COUNTRIES: CASE OF TURKEY AND MOROCCO. , 2018, ss.67 - 82. 10.7827/TurkishStudies.13511 |
| AMA | Ersoy A,AALIOUA M THE EFFECT OF FOREIGN DIRECT INVESTMENTS ON THE ECONOMIC GROWTH OF THE MEDITERRANEAN COUNTRIES: CASE OF TURKEY AND MOROCCO. . 2018; 67 - 82. 10.7827/TurkishStudies.13511 |
| Vancouver | Ersoy A,AALIOUA M THE EFFECT OF FOREIGN DIRECT INVESTMENTS ON THE ECONOMIC GROWTH OF THE MEDITERRANEAN COUNTRIES: CASE OF TURKEY AND MOROCCO. . 2018; 67 - 82. 10.7827/TurkishStudies.13511 |
| IEEE | Ersoy A,AALIOUA M "THE EFFECT OF FOREIGN DIRECT INVESTMENTS ON THE ECONOMIC GROWTH OF THE MEDITERRANEAN COUNTRIES: CASE OF TURKEY AND MOROCCO." , ss.67 - 82, 2018. 10.7827/TurkishStudies.13511 |
| ISNAD | Ersoy, Ahmet Yağmur - AALIOUA, Mohamed. "THE EFFECT OF FOREIGN DIRECT INVESTMENTS ON THE ECONOMIC GROWTH OF THE MEDITERRANEAN COUNTRIES: CASE OF TURKEY AND MOROCCO". (2018), 67-82. https://doi.org/10.7827/TurkishStudies.13511 |
| APA | Ersoy A, AALIOUA M (2018). THE EFFECT OF FOREIGN DIRECT INVESTMENTS ON THE ECONOMIC GROWTH OF THE MEDITERRANEAN COUNTRIES: CASE OF TURKEY AND MOROCCO. Turkish Studies (Elektronik), 13(14), 67 - 82. 10.7827/TurkishStudies.13511 |
| Chicago | Ersoy Ahmet Yağmur,AALIOUA Mohamed THE EFFECT OF FOREIGN DIRECT INVESTMENTS ON THE ECONOMIC GROWTH OF THE MEDITERRANEAN COUNTRIES: CASE OF TURKEY AND MOROCCO. Turkish Studies (Elektronik) 13, no.14 (2018): 67 - 82. 10.7827/TurkishStudies.13511 |
| MLA | Ersoy Ahmet Yağmur,AALIOUA Mohamed THE EFFECT OF FOREIGN DIRECT INVESTMENTS ON THE ECONOMIC GROWTH OF THE MEDITERRANEAN COUNTRIES: CASE OF TURKEY AND MOROCCO. Turkish Studies (Elektronik), vol.13, no.14, 2018, ss.67 - 82. 10.7827/TurkishStudies.13511 |
| AMA | Ersoy A,AALIOUA M THE EFFECT OF FOREIGN DIRECT INVESTMENTS ON THE ECONOMIC GROWTH OF THE MEDITERRANEAN COUNTRIES: CASE OF TURKEY AND MOROCCO. Turkish Studies (Elektronik). 2018; 13(14): 67 - 82. 10.7827/TurkishStudies.13511 |
| Vancouver | Ersoy A,AALIOUA M THE EFFECT OF FOREIGN DIRECT INVESTMENTS ON THE ECONOMIC GROWTH OF THE MEDITERRANEAN COUNTRIES: CASE OF TURKEY AND MOROCCO. Turkish Studies (Elektronik). 2018; 13(14): 67 - 82. 10.7827/TurkishStudies.13511 |
| IEEE | Ersoy A,AALIOUA M "THE EFFECT OF FOREIGN DIRECT INVESTMENTS ON THE ECONOMIC GROWTH OF THE MEDITERRANEAN COUNTRIES: CASE OF TURKEY AND MOROCCO." Turkish Studies (Elektronik), 13, ss.67 - 82, 2018. 10.7827/TurkishStudies.13511 |
| ISNAD | Ersoy, Ahmet Yağmur - AALIOUA, Mohamed. "THE EFFECT OF FOREIGN DIRECT INVESTMENTS ON THE ECONOMIC GROWTH OF THE MEDITERRANEAN COUNTRIES: CASE OF TURKEY AND MOROCCO". Turkish Studies (Elektronik) 13/14 (2018), 67-82. https://doi.org/10.7827/TurkishStudies.13511 |
