Publication: Employment and export effects of foreign direct investments: the case of Turkey
Abstract
Gelişmekte olan ülkeler için, güvenilir bir dış kaynak olarak görülen doğrudan yabancı sermaye yatırımları, Türkiye’nin de ekonomik politika kararlarının gündemindedir. Türkiye Cumhuriyeti tarihi boyunca, akademisyenler, politik karar mekanizmaları ve halk tarafından doğrudan yabancı sermaye odaklı tartışmalar süre gelmiştir. Fakat, her ne kadar doğrudan yabancı sermaye yatırımları liberal kanunlarla desteklenmiş olsa da, 2000’li yıllara kadar yeterli sermaye akışı gerçekleşmemiştir. 2000 yılı öncesi doğrudan yabancı sermaye akımlarının miktarı, diğer gelişmekte olan ülkelerle ve Türkiye için beklentilerle karşılaştırıldığında oldukça önemsiz miktarda kalmaktadır. 2003 yılında, 4875 sayılı ‘Yabancı Sermaye Kanunu’nun kabulu ve hızlanan özelleştirme çalışmaları ile, Türkiye, şimdiye dek sahip olmadığı büyüklükte doğrudan yabancı sermaye çekmeye başlamıştır. Bu yüksek lisans tezinde, doğrudan yabancı sermaye yatırımlarının Türkiye’de istihdam ve ihracat etkisinin zaman serisi yöntemi ile analiz edilmesi amaçlanmıştır. Ayrıca konunun teorik altyapısı özetlenmiş, Türkiye’de doğrudan yabancı sermaye yatırımlarının ekonomi politiği tarihsel bir süreçte anlatılmıştır. Çalışma sonucunda, ekonometrik analizin sonuçları da göstermiştir ki, doğrudan yabancı sermaye yatırımları, Türkiye’nin ekonomik kalkınmasında oldukça önemli yere sahiptir. Bu nedenle, ekonomik politikaların oluşturulmasında, doğrudan yabancı sermaye yatırımlarının istihdam ve ihracatı artırıcı etkisi göz önünde bulundurulmalıdır.
Foreign direct investments (FDI), which are thought a reliable external source especially for developing countries, are one of the current issues of economic policy decisions in Turkey. During the history of the Turkish Republic, discussions, which are focused on FDI, have been going on both among the academicians, policy makers and public. However, in spite of the fact that it was supported by liberal laws, there was no enough FDI inflow occurred until 2000s. Compare to other developing countries and expectations of academicians, amount of FDI inflow in Turkey was insignificant levels before 2000s. After the acceptance of Law No. 4875 named ‘Foreign Direct Investment Law’ in 2003 and with the acceleration of privatization activities, Turkey has started to attract the highest amounts of FDI that she has ever got. In this master thesis, it is aimed to analyze the employment and export effects of FDI in Turkey with time series method. Also, theoretical framework under that subject is summarized. Moreover, political economy of FDI in Turkey is surveyed in a historical context. The results of the time series analysis show that FDI is very important variable for the economic development of Turkey. Therefore, in the economic policy design, economic decision makers should consider the importance of FDI on increasing export and employment levels.
Foreign direct investments (FDI), which are thought a reliable external source especially for developing countries, are one of the current issues of economic policy decisions in Turkey. During the history of the Turkish Republic, discussions, which are focused on FDI, have been going on both among the academicians, policy makers and public. However, in spite of the fact that it was supported by liberal laws, there was no enough FDI inflow occurred until 2000s. Compare to other developing countries and expectations of academicians, amount of FDI inflow in Turkey was insignificant levels before 2000s. After the acceptance of Law No. 4875 named ‘Foreign Direct Investment Law’ in 2003 and with the acceleration of privatization activities, Turkey has started to attract the highest amounts of FDI that she has ever got. In this master thesis, it is aimed to analyze the employment and export effects of FDI in Turkey with time series method. Also, theoretical framework under that subject is summarized. Moreover, political economy of FDI in Turkey is surveyed in a historical context. The results of the time series analysis show that FDI is very important variable for the economic development of Turkey. Therefore, in the economic policy design, economic decision makers should consider the importance of FDI on increasing export and employment levels.