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- Title
SERMAYE GİRİŞLERİNDEKİ AŞIRI ARTIŞLARIN BELİRLEYİCİLERİ: TÜRKİYE ÖRNEĞİ.
- Authors
VARLIK, Cemil
- Abstract
This article examines the determinants of the surges in gross and net capital inflows and in their components using Turkish monthly data over the period 1997:12-2019:12. Probit model estimates suggest that both domestic and global factors are important for portfolio and other investment inflow surges, while domestic variables have higher explanatory power for total and foreign direct investment inflow surges. According to the findings, gross capital inflows data provide more significant results than net inflows data. In addition, increases in domestic industrial production, real exchange rate, global growth and global liquidity raise the probability of surges in the components of capital inflows excluding foreign direct investment. The responses of surges in foreign direct investment inflows to the certain domestic and global variables are quite different from those of the other components. Additionally, surges in gross portfolio inflows are more susceptible to financial fragility, while surges in gross foreign direct investment and gross other investment inflows are more responsive to macroeconomic instability.
- Publication
Kafkas University, Journal of Economics & Administrative Sciences Faculty / Kafkas Üniversitesi Iktisadi ve Idari Bilimler Fakültesi Dergisi, 2020, Vol 11, Issue 22, p1048
- ISSN
1309-4289
- Publication type
Article
- DOI
10.36543/kauiibfd.2020.045