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- Title
Doğrudan Yabancı Sermaye Yatırımları, Ekonomik Büyüme, İstihdam ve Finansal Gelişme Arasındaki Etkileşimin Analizi: OECD Ülkeleri Örneği.
- Authors
ÖZTÜRK, Ömer Faruk; BAYAR, Yılmaz
- Abstract
Foreign direct investments are important especially for the countries with insufficient savings for the sustainable economic growth and development. Furthermore, it is suggested that the capital, technology, know-how, and productivity transferred by foreign direct investments may make a contribution to the economic growth of the host countries in the context of endogenous growth theories. Foreign direct investments can be made in two types as greenfield investments or brownfield investments. The foreign direct investments in terms of greenfield investments may make a contribution to the employment directly or foreign direct investments make a contribution to the employment indirectly through enhancing the economic growth. Furthermore, on the one side, foreign direct investments can make a contribution to the development of financial sector by increasing the funds in the financial system, on the other side foreign direct investments can negatively affect the financial sector development because foreign direct investments are a competitor of financial sector. However, the investors making the foreign direct investments generally prefer a country with a certain level of economic growth, employment and financial sector development given the related literature. In this sense, a mutual interaction among foreign direct investments, economic growth, employment, and financial sector development can exist in theoretical terms. There have been significant increases in foreign direct investments through the acceleration of liberalization and globalization as of 1980s. Many countries have tried to attract foreign direct investments with institutional and financial incentives, taking into account the positive impact of foreign direct investments on economic growth and employment. In the study, the mutual interaction among foreign direct investments, economic growth, employment, and financial sector development was examined through panel causality analysis in sample of OECD countries for the period of 1995-2018. We revealed a unilateral causality from economic growth and employment to the foreign direct investments and a unilateral causality from foreign direct investments to financial development. In other words, we revealed that economic growth and employment had significant effect on foreign direct investments, but foreign direct investments had a significant effect on financial sector development.
- Subjects
FOREIGN investments; INSTITUTIONAL investments; SUSTAINABLE development; EMPLOYMENT in foreign countries; ECONOMIC expansion; MONETARY incentives
- Publication
Itobiad: Journal of the Human & Social Science Researches / İnsan ve Toplum Bilimleri Araştırmaları Dergisi, 2021, Vol 10, Issue 3, p2582
- ISSN
2147-1185
- Publication type
Article
- DOI
10.15869/itobiad.932909