Filiz Giray, Selim Tüzüntürk, Betül İmam

BAZI AB ÜYESİ ÜLKELERDE DOĞRUDAN YABANCI YATIRIMLAR VE KURUMLAR VERGİSİ İLİŞKİSİ: 2008 KÜRESEL FİNANSAL KRİZ ÖNCESİ VE SONRASI BULGULAR

2007 ortalarında ve 2008 içinde etkilerini göstermeye başlayan küresel finansal kriz dünya çapında 1929 krizinden sonra yaşanan en yaygın finansal krizdi. Bu küresel krizden en fazla etkilenen ülke grubu AB ülkeleri olmuştur. Bu çalışmanın amacı, bağımlı değişken doğrudan yabancı sermaye yatırımları (DYSY) ile bağımsız değişken kurumlar vergisi oranı arasındaki ilişkiyi bazı AB üyesi ülkelerde küresel finansal krizden önce ve sonra iki faklı dönemde (1995-2006 ve 2007-2014) araştırmaktır. Bağımlı değişken üzerinde etkileri olabilecek ticaret serbestliği ve gayri safi yurt içi hasıla (GSYİH) değişkenleri de modelde yer almıştır. Panel veri örneklemleri ile modeli tahmin edilerek en uygun modeller ekonometrik metodolojiye göre belirlenmiştir. Örneklem sonuçlarına göre, 1995-2006 dönemi için bütün katsayı tahminleri istatistiksel olarak anlamlı bulunmuştur ve bütün iktisadi bekleyişler sağlanmıştır. Öte yandan, model tahminlerinde 2007-2014 dönemi için iktisadi beklentileri karşılayacak şekilde sadece kurumlar vergisi oranı katsayısının istatistiksel olarak anlamlı olduğu bulunmuştur. 2007-2014 dönemi için model tahminlerinde ticaret serbestliği ve GSYİH bağımsız değişkenlerinin katsayıları istatistiksel olarak anlamsız bulunmuştur.

Anahtar Kelimeler:

Doğrudan Yabancı Yatırımlar, Kurumlar Vergisi Oranı, Küresel Finansal Kriz, Panel Veri

FOREIGN DIRECT INVESTMENTS AND CORPORATE TAX RELATIONSHIP IN SOME EU MEMBER COUNTRIES: EVIDENCE BEFORE AND AFTER THE 2007-2008 GLOBAL FINANCIAL CRISIS

The global financial crisis which started to show its effects in middle 2007 and into 2008 was the latest worst financial crisis in the world wide. The aim of this study is to examine the relationship between the dependent variable foreign direct investment and independent variable corporate tax rate in some EU member countries for two different periods (1995-2006 and 2007-2014), before and after the global financial crisis. Two important independent variables that may have effects on the dependent variable such as trade openness and gross domestic product were also included in the Panel Data Models. Several panel data models were estimated and most proper models were determined based upon the econometric methodology. Based on the sample results, all coefficients were found to be statistically significant and all economic expectations were satisfied in the model estimates for 1995-2006 periods. On the other hand, only corporate tax rate’s coefficient was found to be statistically significant and its economic expectation was satisfied in the model estimates for 2007- 2014 periods. Trade openness and gross domestic product independent variables’ coefficients were found to be statistically insignificant in the model estimates for 2007-2014 periods.

Keywords:

Foreign Direct Investment, Corporate Tax Rate, Global Financial Crisis, Panel Data,

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