Yıl 2018, Cilt 26, Sayı 37, Sayfalar 257 - 273 2018-07-31

Do Depreciations Really Trigger an Inflow of Foreign Direct Investment? The Case of Turkey
Döviz Kuru Doğrudan Yabancı Yatırım Girişini Gerçekten Tetikler mi? Türkiye Örneği

Zeynep ERÜNLÜ [1]

71 85

In this study, the relationship between real exchange rate and foreign direct investment is examined using the Logistic Smooth Transition - Autoregressive Distributed Lag (LST-ARDL) model. Analyzing the effect of real exchange rate changes on foreign direct investment is very crucial for a developing country like Turkey which has a relatively large foreign debt stock. The estimation results show that foreign direct investment inflows to Turkey increase when Turkish Lira appreciates against the US dollar. This effect is especially strong during periods of high investment inflows. Thus, for Turkey to attract productive capital flows rather than short-term rather unstable portfolio flows it has to maintain a strong currency against the US dollar.
Bu çalışmada, reel döviz kuru ile doğrudan yabancı yatırımlar arasında ilişkinin varlığı, Lojistik Yumuşak Geçişli - Otoregresif Dağıtılmış Gecikme Modeli (LST-ARDL) modeli kullanılarak incelenmiştir. Reel döviz kuru değişikliklerinin doğrudan yabancı yatırımlar üzerindeki etkisi özellikle Türkiye gibi yüksek miktarda yabancı borç stoku olan gelişmekte olan ülkeler için çok önemlidir. Tahmin sonuçları, Türk Lirasının Amerikan Doları karşısında reel olarak değer kazanmasının yabancı sermaye girişini arttırdığını ve bu etkinin özellikle yüksek sermaye girişinin olduğu dönemlerde daha yüksek olduğunu göstermiştir. Bu nedenle, Türkiye’nin istikrarsız kısa vadeli portföy akımlarından ziyade üretken sermaye akımlarını çekmesi için Amerikan dolarına karşı güçlü para birimini sürdürmesi gerekmektedir.
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Orcid: 0000-0003-0310-3403
Yazar: Zeynep ERÜNLÜ
Kurum: Department of Economics, Çankaya University, Ankara, Turkey
Ülke: Turkey


Bibtex @araştırma makalesi { sosyoekonomi418254, journal = {Sosyoekonomi}, issn = {1305-5577}, address = {Sosyoekonomi Derneği}, year = {2018}, volume = {26}, pages = {257 - 273}, doi = {10.17233/sosyoekonomi.2018.03.15}, title = {Do Depreciations Really Trigger an Inflow of Foreign Direct Investment? The Case of Turkey}, key = {cite}, author = {ERÜNLÜ, Zeynep} }
APA ERÜNLÜ, Z . (2018). Do Depreciations Really Trigger an Inflow of Foreign Direct Investment? The Case of Turkey. Sosyoekonomi, 26 (37), 257-273. DOI: 10.17233/sosyoekonomi.2018.03.15
MLA ERÜNLÜ, Z . "Do Depreciations Really Trigger an Inflow of Foreign Direct Investment? The Case of Turkey". Sosyoekonomi 26 (2018): 257-273 <http://dergipark.gov.tr/sosyoekonomi/issue/38370/418254>
Chicago ERÜNLÜ, Z . "Do Depreciations Really Trigger an Inflow of Foreign Direct Investment? The Case of Turkey". Sosyoekonomi 26 (2018): 257-273
RIS TY - JOUR T1 - Do Depreciations Really Trigger an Inflow of Foreign Direct Investment? The Case of Turkey AU - Zeynep ERÜNLÜ Y1 - 2018 PY - 2018 N1 - doi: 10.17233/sosyoekonomi.2018.03.15 DO - 10.17233/sosyoekonomi.2018.03.15 T2 - Sosyoekonomi JF - Journal JO - JOR SP - 257 EP - 273 VL - 26 IS - 37 SN - 1305-5577- M3 - doi: 10.17233/sosyoekonomi.2018.03.15 UR - http://dx.doi.org/10.17233/sosyoekonomi.2018.03.15 Y2 - 2018 ER -
EndNote %0 Sosyoekonomi Do Depreciations Really Trigger an Inflow of Foreign Direct Investment? The Case of Turkey %A Zeynep ERÜNLÜ %T Do Depreciations Really Trigger an Inflow of Foreign Direct Investment? The Case of Turkey %D 2018 %J Sosyoekonomi %P 1305-5577- %V 26 %N 37 %R doi: 10.17233/sosyoekonomi.2018.03.15 %U 10.17233/sosyoekonomi.2018.03.15
ISNAD ERÜNLÜ, Zeynep . "Döviz Kuru Doğrudan Yabancı Yatırım Girişini Gerçekten Tetikler mi? Türkiye Örneği". Sosyoekonomi 26 / 37 (Temmuz 2018): 257-273. http://dx.doi.org/10.17233/sosyoekonomi.2018.03.15