YABANCI PORTFÖY YATIRIMLARINI ETKİLEYEN FAKTÖRLERİN BELİRLENMESİ

Öz Bu çalışmada Türkiye için yabancı portföy yatırımlarını etkileyen faktörler ve bu faktörlerin etkilerinin belirlenmesi amaçlanmıştır. Bunun için 1999-2009 dönemi boyunca rezerv, GSYH, (Gayrisafi Yurtiçi Hasıla), cari denge, büyüme hızı, DIBS, enflasyon oranı, İMKB getiri oranı, kriz, ABDFaiz, DowJones, gelişmiş ülkelerin büyüme hızı değişkenleri ile portföy yatırımları arasındaki ilişki çoklu regresyon analizi kullanılarak belirlenmeye çalışılmıştır. Ancak orijinal değerlerle yapılan regresyon analizinde çoklu bağlantı sorunu ile karşılaşılmıştır. Faktör analizi bu soruna çözüm olarak ara bir yöntem olarak kullanılmıştır. Faktör analizi sonucu elde edilmiş türetilmiş faktörler yeni birer değişken olarak kullanılıp, çoklu regresyon analizi tekrar yapılmıştır. Analiz sonucunda enflasyon ve büyüme hızı ile İMKB ve Dow Jones endeksi etkili bulunmuştur.

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