DYY KALKINMA İÇİN HER ŞARTTA YARARLI MIDIR: YEŞİLALAN VE KAHVERENGİALAN YATIRIMLARI ARASINDA AMPİRİK BİR KARŞILAŞTIRMA
Literatürde, ekonomik kalkınmaya yararlı olması amacıyla DYY’nin “niceliği”nden çok “niteliği”ne odaklanılmaya başlanmıştır. DYY’nin niteliğinin bir göstergesi olarak DYY’nin “giriş şekli” yeşil alan ya da kahverengi alan yatırımları kabul edilmektedir. Çalışma, yatırım kanalıyla doğrudan olumlu etkisine sahip olmak amacıyla yeşilalan yatırımının kalkınma için daha yararlı olduğunu savunmaktadır. Çalışma bunu ampirik olarak bir yatay kesit veri analizi ile araştırmaktadır. Ana sonuçlar bu argümanı desteklemektedir. Aynı zamanda bulgular kahverengi alan yatırımının insan sermayesinin gelişimi ile ilişkili olarak uzun vadede kalkınma için yararlı olabildiği argümanını da desteklemektedir
IS FDI BENEFICIAL FOR DEVELOPMENT IN ANY CASE: AN EMPIRICAL COMPARISON BETWEEN GREENFIELD AND BROWNFIELD INVESTMENTS
In literature, the “quality” of FDI rather than its “quantity” was started to be focused on in order to be beneficial for economic development. One of the indicators of FDI’s “quality” is accepted as its “mode of entry”, greenfield or brownfield investments. The paper argues that greenfield investment is more useful for development in order to have its direct positive impact through investment. The paper empirically investigates this by a cross-section data analysis. The main findings support this argument. Findings also back the argument that brownfield can be beneficial for development in the long-run in relation with human capital development.
___
- AGOSIN, M.R., RICARDO, M. (2000). Foreign investment in developing countries: does it crowd in domestic investment. UNCTAD discussion paper 146. Geneva: UNCTAD.
- ADENIYI, O., OMISAKIN, O., EGWAIKHIDE, F., OYINLOLA, A. (2012). Foreign direct investment, economic growth and financial sector development in small open developing economies. Economic Analysis and Policy (EAP), Queensland University of Technology (QUT), School of Economics and Finance, 42(1), pp.105-127.
- BALASUBRAMANYAM, V.N., SALISU, M., SAPSFORD, D. (1996). Foreign direct investment and growth in EP and IS countries. The Economic Journal, 106(434), pp.92-105.
- BARRO, R.J. (1991). Economic growth in a cross-section of countries. Quarterly Journal of Economics, 5, pp.181-189.
- BHAGWATI, J. N. (1978). Anatomy and consequences of exchange rate regimes. NBER Studies in International Economic Relations 10, New York: NBER.
- BORENSZTEIN, E., GREGORIO, J.D., LEE, J.-W. (1998). How does foreign direct investment affect economic growth. Journal of International Economics, 45, pp.115-135.
- CALDERÓN, C., LOAYZA, N., SERVÉN, L. (2002). Greenfield FDI vs. mergers and acquisitions: Does the distinction matter. Central Bank of Chile Working Papers 173, [Available at]: , [Accessed: 10.03.2012].
- CARKOVIC, M.V., LEVINE, R. (2005). Does foreign direct investment accelerate economic growth. T.H. MORAN, E.M. GRAHAM, M. BLOMSTRÖM (ed.) Does foreign direct investment promote development, Washington DC, USA: Institute for International Economics and Centre for Global Development, [Available at]: , [Accessed: 10.03.2012].
- CHUDNOVSKY, D., LOPEZ, A. (1999). Globalisation and developing countries: FDI and growth and SHD, [Available at]: , [Accessed: 10.03.2012].
- DUNNING, J. (1994). Re-evaluating the benefits of foreign direct investment. Transnational Corporations, 3(1), pp.23-52.
- DUNNING, J. (1997). A business analytic approach to governments and globalization. J.H. DUNNING (ed.) Governments, globalization and international business, Oxford: Oxford University Press.
- EASTERLEY, W., LEVINE, R. (1997). Africa’s growth tragedy: Policies and ethnic divisions. Quarterly Journal of Economics, 112 (4), pp.1203-1250.
- FINDLAY, R. (1978). Relative backwardness, direct foreign investment and the transfer of technology, a simple dynamic model. Quarterly Journal of Economics, 92, pp.1-16.
- FREEMAN, C., HAGEDOORN, J. (1989). New technology and catching up. European Journal of Development Research, 1(1), pp.53-67.
- GLOBERMAN, S., SHAPIRO, D. (2004). Assessing international mergers and acquisitions as a mode of foreign direct investment. The Conference on Multinationals, Growth and Governance, in Honor of A. Edward Safarian, Toronto, Ontario, April 24-25 2004, [Available at]: , [Accessed: 10.03.2012].
- GORE, C. (2000). The rise and fall of the Washington consensus as a paradigm for less developed countries. World Development, 28 (5), pp.789-804.
- GREENAWAY, D., MORGAN, W., WRIGHT, P. (2002). Trade liberalization and growth in developing countries. Journal of Development Economics, 67, pp.229-244,.
- HERMES, N., LENSINK, R. (2003). Foreign direct investment, financial development and economic growth. The Journal of Development Studies, 40(1), pp.142-163.
- LALL, S. (2000). FDI and development: research issues in the emerging context. Policy discussion papers 0020, Centre for International Economic Studies, University of Adelaide.
- LALL, S., NARULA, R. (2004). Foreign direct investment and its role in economic development: Do we need a new agenda. The European Journal of Development Research, 16 (3), pp.447-464.
- LONDON ECONOMICS (2010). Analysis of developments in the fields of direct investment and M&A . 2010 Report, [Available at]: , [Accessed: 10.03.2012].
- MILBERG, W. (1999). Foreign direct investment and development: Balancing costs and benefits. International Monetary and the Financial Issues for the 1990s, XI, pp.99-116.
- MORTIMORE, M., VERGARA, S. (2004). Targeting winners: can foreign direct investment policy help developing countries industrialize. The European Journal of Development Research, 16 (3), pp.499-530.
- MOSLEY, P. (2004). Institutions and politics in a Lewis-type growth model. The Manchester School, 72 (6), pp.751-773.
- NARULA, R. (2004). Understanding absorptive capacities in an innovation system context: Consequences for economic and employment growth. Maastricht Economic Research
- Institute on Innovation and Technology (MERIT) Research Memorandum 2004-003. Maastricht: MERIT.
- NARULA, R., DUNNING, J. (2000). Industrial development, globalization and multinational enterprises: New realities for developing countries. Oxford Development Studies, 28(2), pp.141-167.
- NARULA, R., MARIN, A. (2003). FDI spillovers, absorptive capacities and human capital development: evidence from Argentina. MERIT Research Memorandum 2003-16. Maastricht: MERIT.
- OZAWA, T. (1992). Cross-Investments between Japan and the EC: Income similarity, technological congruity and economies of scope. J. CANTWELL (ed.) Multinational investment in modern Europe: Strategic interaction in the integrated community, Aldershot: Edward Elgar.
- PEREZ, C., SOETE, L. (1988). Catching-up in technology: entry barriers and windows of opportunities. G. DOSI, C. FREEMAN, R. NELSON, G. SILVERBERG, L. SOETE (ed.) Technical change and economic theory, New York: Columbia University.
- SACHS, J. D. (1997). Fundamental sources of long run growth. American Economic Review, 87, pp.184-188.
- SAMIMI, A. J., REZANEJAD, Z., ARIANI, F. (2010). Growth and FDI in OIC Countries. Australian Journal of Basic and Applied Sciences, 4(10), pp.4883-4885.
- SARIALIOGLU HAYALI, A. (2009). Is it possible to develop within the MAI? Akademik Sight (Akademik Bakış), 17, pp.1-28.
- SARIALIOGLU HAYALI, A. (2013). A comparative analysis of FDI in terms of “Quantity” and “Quality”: Turkish Case. Germany: Lambert Academic Publishing.
- SINGH, A. (2005a). FDI, globalization and economic development: Towards reforming national and international rules of the game. Working paper series 304. Cambridge: University of Cambridge.
- SINGH, A. (2005b). Globalization and the regulation of FDI: New proposals from the European community and Japan. Contributions to Political Economy, 24, pp.99-121.
- SMARZYNSKA, B. K. (2002.) The composition of foreign direct investment and protection of intellectual property rights in transition economies. World Bank Policy Research Working Paper 2786. Washington: World Bank.
- STOPFORD, J. (1997). Implications for national governments. J.H. DUNNING (ed.) Governments, globalization and international business, Oxford: Oxford University Press.
- UNCTAD (2000). World Investment Report 2000: Cross-border mergers and acquisitions and development . Geneva: UNCTAD.
- XU, B. (2000). Multinational enterprises, technology diffusion, and host country productivity growth. Journal of Development Economics, 62, pp.477-493.