Ekonomik Özgürlüğün Doğrudan Yabancı Yatırımlar, Gayrı Safi Yurtiçi Hasıla ve Vergi Gelirleri Üzerindeki Etkisi: OECD Ülkelerinden Kanıtlar

Bu çalışmanın amacı, ekonomik özgürlüğün doğrudan yabancı yatırımlar, gayrı safi yurtiçi hasıla (GSYH) ve vergi gelirleri üzerindeki etkisini araştırmaktır. Değişkenler arasındaki ilişkinin test edilmesi için 1995-2019 dönemi temel alınarak 37 OECD ülkesinden oluşan bir veri seti kullanılmıştır. Seriler arasında eşbütünleşme ilişkisinin Banerjee ve Carrion-i-Silvestre (2017) panel eşbütünleşme testiyle incelendiği çalışmada, panelin genelinde tüm modellerde eşbütünleşme ilişkisinin olduğu belirlenmiştir. Eşbütünleşme katsayı tahmin sonuçlarına göre ekonomik özgürlük, doğrudan yabancı yatırımları negatif ve GSYH’yi pozitif yönde etkilemiştir. Ekonomik özgürlüğün vergi gelirleri üzerindeki etkisi pozitif ancak istatistiksel olarak anlamsız çıkmıştır. Konya (2006) ve Dumitrescu ve Hurlin (2012) panel nedensellik testlerine göre, OECD ülkelerinde ekonomik özgürlükten doğrudan yabancı yatırımlara, GSYH’ye ve vergi gelirlerine doğru nedensellik ilişkilerinin olduğu görülmüştür. Panelin geneli için ve bireysel olarak elde edilen bulgular, hipotezi kısmen desteklerken, bu sonuçların tüm OECD ülkeleri için genelleştirilmeyeceğini de ortaya koymuştur.

Anahtar Kelimeler:

Ekonomik Özgürlük, Doğrudan Yabancı Yatırımlar, GSYH, Vergi Gelirleri, Panel Veri Analizi

The Effect of Economic Freedom on Foreign Direct Investment, Gross Domestic Product and Tax Revenues: Evidence from OECD Countries

The aim of the study is to investigate the effect of economic freedom on foreign direct investment, gross domestic product (GDP) and tax revenues. A data set which consistf of 37 OECD countries based on the period 1995-2019 is used to examine the relationship between variables. In the research, where the cointegration relation between the series is examined with the Banerjee and Carrion-i-Silvestre (2017) panel cointegration test, it is determined that there is a cointegration relationship in all models throughout the panel. According to the cointegration coefficient estimation results, economic freedom affected foreign direct investments negatively and GDP positively. The effect of economic freedom on tax revenues is positive but statistically insignificant. According to the panel causality tests of Konya (2006) and Dumitrescu and Hurlin (2012), in OECD countries it is observed that there are causality relations from economic freedom to foreign direct investments, GDP and tax revenues. While the findings of the panel and results obtained on individual basis partially support the hypothesis, it also revealed that these results cannot be generalized to all OECD countries.

Keywords:

Economic Freedom, Foreign Direct Investment, GDP, Tax Revenues, Panel Data Analysis,

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