Hüseyin Safa ÜNAL, Jülide YALÇINKAYA KOYUNCU

Kurumsal Çevre Doğrudan Yabancı Yatırım Çıkışlarını Etkiler mi?: Panel Veri Çalışması

Bu çalışma, 1990-2011 yıllarını kapsayan dönem için kurumsal yapı ile doğrudan yabancı yatırım (DYY) çıkışı arasında bir ilişki olup olmadığını incelemektedir. Bu amaçla, üç farklı kurumsal yapı göstergesinden yararlanılmıştır. İfade ve basın özgürlüğü, din özgürlüğü ve seçimlerde kendi kaderini tayin hakkının kurumsal yapıyı gösterdiği düşünülmektedir. Rassal etkiler modelinin kullanıldığı çalışmada, dışarıya yönelik DYY ile kurumsal yapının kalitesi arasında negatif yönlü bir ilişki olduğu tespit edilmiştir. Dışa açıklık ve beşeri sermaye yatırımları kontrol değişkenler olarak modellere eklendiğinde seçimlerle kendi kaderini tayin etme indeksi istatistiksel anlamlılığını yitirmektedir. Ancak bu durumda dahi diğer ampirik bulgular hala geçerliliğini korumaktadır.

Anahtar Kelimeler:

DYY Stoku Çıkışı, DYY Akışı, Özgürlük, Kurumlar, Rassal Etkiler Modeli

Does Institutional Environment Affect Outward Foreign Direct Investment?: Panel Study

This study is an attempt to find if there is any association between institutional environment and outward foreign direct investment (FDI) for the period between 1990 and 2011. For this aim three different institutional structure indicators are utilized. Freedom of speech and press, religion freedom and electoral self-determination are put into use. There is a negative linkage between outward FDI and the quality of institutional structure using random effects model (REM). Although electoral self-determination loses its statistical significance, empirical findings still hold even if the openness and human capital investment proxies are added to the models as control variables.

Keywords:

Outward FDI Stock, Outward FDI Flow, Freedom, Institutions, Random Effects Model,

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