Joel DEİCHMANN

7518

Türkiye'de Uluslararası Doğrudan Yatırım: Ekonomik Kalkınma Üzerindeki Etkisinin Artırılması

Bu makale, Türkiye'deki geçmiş Uluslararası Doğrudan Yatırım (UDY) ve etkileri hakkında mevcut akademik literatürün bir taramasıyla başlayarak, Türkiye Cumhuriyeti'ndeki UDY ile ekonomik kalkınma arasındaki ilişkiyi incelemektedir. UDY’nin ekonomik büyümeyi teşvik edip etmediği sorusuna, yerel firmalarla bağlantılara vurgu yapılarak özel bir önem verilmektedir. UDY politikasının önemi gibi, küreselleşmeye yönelik artan korumacılık sorunu da ele alınmaktadır. UDY’nin Türkiye'deki kalkınma üzerindeki etkisi, çok uluslu işletmelerin (ÇUİ) üretken faaliyetleri ve içselleştirme düzeyleri gibi ulusal kökenleri ile de ilgilidir. Bu makale, Invest in Turkey gibi yatırım ajanslarının öneminin altını çizmekte, bilgi transferi ve sermaye transferleri yoluyla ev sahibi ülkeye fayda sağlayacak UDY’yi teşvik etmek için bazı genel öneriler ortaya koymakta ve özellikle COVID-19 salgını sonrasında sermaye kıtlığı göz önüne alındığında politika yapıcılarını her projeyi tek tek vaka bazında değerlendirmeye teşvik etmektedir.
Anahtar Kelimeler:

Uluslararası doğrudan yatırım, Türkiye, yatırım politikası, yatırım etkileri

Foreign Direct Investment in Turkey: Enhancing its Impact on Economic Development

This paper examines the relationship between foreign direct investment (FDI) and economic development in the Republic of Turkey, beginning with a survey of existing scholarly literature on past FDI in Turkey and its effects. Special attention is paid to the question of whether FDI encourages economic growth with emphasis connections to local firms. The issue of rising protectionism toward globalization is addressed, as is the importance of FDI policy. The impact of FDI on development in Turkey is related to the national origins of multinational enterprises (MNEs) as their productive activities and level of internalization. This paper underscores the importance investment agencies such as Invest in Turkey, sets forth some general suggestions for promoting FDI to benefit the host country through knowledge transfer and capital transfers, and urges policymakers consider individual projects on a case-by-case basis, especially given the scarcity of capital in the wake of the COVID-19 pandemic.
Keywords:

Foreign direct investment, Turkey, investment policy, investment impacts,

PDF

___

  • Aizenman, J. & Noy, I. (2006). FDI and trade—Two-way linkages? The Quarterly Review of Economics and Finance, 46(3), 317-337.
  • Alfaro, L. (2017). Gains from foreign direct investment: Macro and micro approaches. The World Bank Economic Review, 30(1), S2-S15.
  • Alfaro, L. & Charlton, A. (2007). Growth and the quality of foreign direct investment: Is all FDI equal? Center for Economic Performance Discussion Paper No 830. Retrieved from https://hbswk.hbs.edu/item/growth-and-the-quality-of-foreign-direct-investment-is-all-fdi-equal.
  • Alfaro, L., Chanda, A., Kalemli-Ozcan, S. & Sayek, S. (2010). Does foreign direct investment promote growth? Exploring the role of financial markets on linkages. Journal of Development Economics, 91(2), 242-256.
  • Alfaro, L., Kalemli-Ozcan, S. & Volosovych, V. (2008). Why doesn't capital flow from rich to poor countries? An empirical investigation. The Review of Economics and Statistics, 90(2), 347-368.
  • Almfraji, M. A. & Almsafir, M. K. (2014). Foreign direct investment and economic growth literature review from 1994 to 2012. Procedia-Social and Behavioral Sciences, 129, 206-213.
  • Baldi, G. & Miethe, J, (2015). Foreign direct investment and economic growth. DIW Roundup: Politik im Fokus No. 71. Retrieved from https://www.econstor.eu/bitstream/10419/111857/1/DIW_Roundup_71_en.pdf.
  • Bermejo Carbonell, J. & Werner, R. (2018). Does foreign direct investment generate economic growth? A new empirical approach applied to Spain. Economic Geography, 94(4), 1-32.
  • Central Bank of Turkey (2018). Turkey foreign direct investment. Retrieved from https://www.ceicdata.com/en/indicator/turkey/foreign-direct-investment.
  • Cambazoglu, B. & Karaalp, H. S. (2014). Does foreign direct investment affect economic growth? The case of Turkey. International Journal of Social Economics, 41(6), 434-449.
  • Deichmann, J. (2010). Foreign direct investment in the Czech Republic: the role of origin effects and government promotion abroad. Comparative Economic Studies, 52(2), 249-272.
  • Deichmann, J., Karidis, S. & Sayek, S. (2003). Foreign direct investment in Turkey: regional determinants. Applied Economics, 35(6), 1767-1778.
  • De Mello, L. (1999). Foreign direct investment-led growth: evidence from time series and panel data. Oxford economic papers, 51(1), 133-151.
  • Dicken, P. (2015). Global Shift: Mapping the Changing Contours of the World Economy. Seventh Edition. New York: The Guilford Press.
  • Drahokoupil, J. (2008). The investment-promotion machines: the politics of foreign direct investment promotion in Central and Eastern Europe. Europe-Asia Studies, 60(2), 197-225.
  • Dunning, J. H. (1980). Toward an eclectic theory of international production: Some empirical tests. Journal of International Business Studies, 11(1), 9-31.
  • Dunning, J. H. (1988). The eclectic paradigm of international production: A restatement and some possible extensions. Journal of International Business Studies, 19(1), 1-31.
  • Dunning, J. H. (1998). Location and the multinational enterprise: a neglected factor? Journal of International Business Studies, 29(1), 45-66.
  • Enderwick, P. & Buckley, P. J. (2020). Rising regionalization: will the post-COVID-19 world see a retreat from globalization? Transnational Corporations Journal, 27(2), 99-112.
  • Ford, T., Rork, J. & Elmslie, B. (2008). Considering the source: does the country of origin of FDI matter to economic growth? Journal of Regional Science, 48(2), 329-357.
  • Gökmenoğlu, K. & Taspinar, N. (2016). The relationship between CO2 emissions, energy consumption, economic growth and FDI: the case of Turkey. The Journal of International Trade and Economic Development, 25(5), 706-723.
  • Görg, H. & Labonte, P. (2012). Trade protection during the crisis: Does it deter foreign direct investment? The World Economy, 35(5), 525-544.
  • Grigoriadis, I. & Kamaras, A. (2008). Foreign direct investment in Turkey: Historical constraints and the AKP success story. Middle Eastern Studies, 44(1), 53-68.
  • The Guardian (2018). Suffocating climate of fear' in Turkey despite end of state of emergency. Retrieved from https://www.theguardian.com/world/2018/jul/18/turkeys-state-of-emergency-ends-but-crackdown-continues
  • Invest in Turkey (2021). Foreign Direct Investment Law. Retrieved from http://www.invest.gov.tr/en- US/infocenter/publications/Documents/FDI%20Law%20in%20Turkey.pdf
  • Kalinova, B., Palerm, A. & Thomsen, S. (2010). OECD's FDI Restrictiveness Index: 2010 Update. OECD Working Papers on International Investment, No. 2010/03, OECD Publishing, Paris. Retrieved from https://doi.org/10.1787/5km91p02zj7g-en.
  • Khaliq, A. & Noy, I. (2007). Foreign direct investment and economic growth: Empirical evidence from sectoral data in Indonesia. Journal of Economic Literature, 45(1), 313-325.
  • Kılıçaslan, Y., Gürel-Üçdoruk, Y., Önder, G., & Önder-Karal, Z. (2019). Why do Turkish firms go abroad to invest? (No. 2019-001). EconWorld Working Paper Series.
  • Mallya, T., Kukulka, Z. & Jensen, C. (2004). Are incentives a good investment for the host country? An empirical evaluation of the Czech National Incentive Scheme. Transnational Corporations, 13(1), 109-148.
  • Meredith, L. & Maki, D. (1992). The United States export and foreign direct investment linkage in Canadian manufacturing industries. Journal of Business Research, 24(1), 73-88.
  • OECD (2021). FDI stocks. Retrieved from https://data.oecd.org/fdi/ DOI: 10.1787/80eca1f9-en.
  • OECD (2013). Checklist for Foreign Direct Investment Policies. Retrieved from https://www.oecd.org/investment/investment-policy/2506900.pdf Paul, J. & Benito, G. (2018). A review of research on outward foreign direct investment from emerging countries, including China: what do we know, how do we know and where should we be heading? Asia Pacific Business Review, 24(1), 90-115.
  • Paul, J. & Feliciano-Cestero, M. (2021). Five decades of research on foreign direct investment by MNEs: An overview and research agenda. Journal of Business Research, 124, 800-812. Pavlínek, P. (2004). Regional development implications of foreign direct investment in Central Europe. European Urban and Regional Studies, 11(1), 47-70.
  • Pavlínek, P. (2007). Dependent Growth: Foreign Investment and the Development of the Automotive Industry in East-Central Europe. Cham, Switzerland: Springer. Reuters (2021). Erdogan says Turkey remains committed to full EU membership. Retrieved from https://www.reuters.com/world/middle-east/erdogan-says-turkey-remains-committed-full-eu-membership-2021-04-13/
  • Sharma, B. (2021). Covid-19 and recalibration of FDI regimes: convergence or divergence? Transnational Corporations Review, 13(1), 62-73.
  • Smarzynska Javorcik, B. (2004). Does foreign direct investment increase the productivity of domestic firms? In search of spillovers through backward linkages. American Economic Review, 94(3), 605-627.
  • Smarzynska Javorcik, B. & Spatareanu, M. (2011). Does it matter where you come from? Vertical spillovers from foreign direct investment and the origin of investors. Journal of Development Economics, 96(1), 126-138.
  • Temiz, D. & Gökmen, A. (2014). FDI inflow as an international business operation by MNCs and economic growth: an empirical study on Turkey. International Business Review, 23(1), 145-154.
  • Thomsen, S. & Mistura, F. (2017). Is investment protectionism on the rise? In Evidence from the OECD FDI Regulatory Restrictiveness Index. Global Forum on International Investment. Paris, March.
  • UNCTAD (United Nations Conference on Trade and Development) (2017). FDI to developing Asia fell 15% in 2016. Retrieved from https://unctad.org/press-material/foreign-direct-investment-developing-asia-fell-15-2016-yet-china-became-worlds.
  • UNCTAD (United Nations Conference on Trade and Development) (2018). World Investment Report 2018. Retrieved from https://unctad.org/en/PublicationsLibrary/wir2018_en.pdf
  • UNCTAD (United Nations Conference on Trade and Development) (2020). World Investment Report 2020. Retrieved from https://unctad.org/webflyer/world-investment-report-2020.
  • UNCTAD. (United Nations Conference on Trade and Development) (2021). Global foreign direct investment fell by 42% in 2020; outlook remains weak. https://unctad.org/news/global-foreign-direct-investment-fell-42-2020-outlook-remains-weak.
  • Washington Post (2018). Turkey’s currency crisis is really a banking crisis. But the country isn’t doing anything about it. Retrieved from https://www.washingtonpost.com/business/2018/09/21/turkeys-currency-crisis-is-really-banking-crisis-country-isnt-doing-anything-about-it/
  • WAIPA (World Association of Investment Promotion Agencies) (2021). The General Reference Point for FDI. Retrieved from http://www.waipa.org/members.htm.
  • World Bank (2020). Overview: Republic of Turkey. Retrieved from http://www.worldbank.org/en/country/turkey/overview. (2018)
  • Yavan, N. (2010). The location choice of foreign direct investment within Turkey: an empirical analysis. European Planning Studies, 18(10), 1675-1705.
  • Yavan, N. (2011a). The impact of investment incentives on regional economic growth: An empirical analysis. Ekonomik Yaklasim, 22(81), 65-104.
  • Yavan, N. (2011b). The locational determinants of Turkish outward FDI in Eurasian Countries." In ERSA conference papers, no. ersa10p684. European Regional Science Association.
  • Zhan, J. (2020). Covid-19 and investment--an UNCTAD research round-up of the international pandemic's effect on FDI flows and policy. Transnational Corporations, 27(1), 1-3.
Ekonomi-tek-Cover
  • ISSN: 2146-6173
  • Yayın Aralığı: Yılda 3 Sayı
  • Başlangıç: 2012
  • Yayıncı: Türkiye Ekonomi Kurumu Vakfı
Arşiv
Sayıdaki Diğer Makaleler

Uluslararası Doğrudan Yatırım, Teknoloji ve Ekonomik Büyüme: Veriler Ne Söylüyor?

Antonio MARASCO

Türkiye’ye Gelen Uluslararası Doğrudan Yatırımları Belirleyici Faktörlerin Zaman Serisi ve Çekim Modeli Kullanılarak Açıklanması

Murat ŞENZEYBEK

Türkiye'de Uluslararası Doğrudan Yatırım: Ekonomik Kalkınma Üzerindeki Etkisinin Artırılması

Joel DEİCHMANN