The Determinants of the European Union Foreign Direct Investments in Turkey

Türkiye'ye gelen dolaysız yabancı sermaye yatırımları, 1980'li yılların başında uygulanan liberalizasyon politikaları sonucunda artmaya başlamıştır. Bununla beraber, 199O'lı yıllarda yaşanan ekonomik krizler Türkiye'ye gelen dolaysız yabancı sermaye yatırımlarının yetersiz kalmasına yol açmıştır. Türkiye, dünyadan yabancı sermayeyi çekmekte başarısız olmasına rağmen, Türkiye'ye gelen yatırımların yarısından fazlası başta Hollanda ve Fransa olmak üzere Avrupa Birliği (AB) ülkelerine aittir. İş adamları ve politikacılar tarafından Türkiye-AB arasında 3 Ekim 2005'te başlayacak müzakere sürecinin Türkiye'ye yönelik yabancı sermaye yatırımlarını artırması beklenmektedir. Bu çalışma, 1991-2003 döneminde yer alan yıllara ait verileri kullanarak, panel veri analizi yöntemiyle AB'nin bütünü, Hollanda ve Fransa'dan Türkiye'ye gelen dolaysız yabancı sermaye yatırımlarını etkileyen ekonomik faktörleri ve risk faktörlerini belirlemeyi amaçlamıştır. Ampirik analizler, kişi başına gelir, uluslar arası kuruluşlardan alman krediler ve alt yapı yatırımlarının AB ülkelerinden Türkiye'ye gelen dolaysız yabancı sermaye yatırımlarını etkileyen önemli faktörler olduğunu ortaya koymuştur.

Avrupa Birliği'nin Türkiye'deki Dolaysız Yabancı Sermaye Yatırımlarının Belirleyicileri

Foreign direct investments (FDI) in Turkey started to increase at the beginning of 1980s as a result of liberalization policies. However, FDI inflow to Turkey was not sufficient during the liberalization process as a result of economic crises in 1990s. Although Turkey was not successful in attracting FDI from the world, more than fifty percents of FDI in Turkey come from the European Union (EU) countries, especially from Netherlands and France. Now, it is expected by the politicians and businessman that the commencement of the negotiations between Turkey and the EU on 3 rd October 2005 will increase this share. This study aimed to find out the economic and risk factors of total EU- as well as the Dutch and French- FDI in Turkey by using panel data analysis for the years between 1991 and 2003. Empirical results present that per capita GDP, credit from international organizations and infrastructure investments are important determinants of FDI inflow to Turkey from the EU economies.

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