Diğer
BibTex RIS Kaynak Göster

THE EFFECTS OF FDI AND REMITTANCES ON THE ECONOMIC GROWTH OF SELECTED SAARC COUNTRIES

Yıl 2021, Cilt: 3 Sayı: 2, 66 - 76, 31.12.2021

Öz

Foreign direct investment (FDI) contributes to the economic development of a country via technology spillovers, the production of human capital, and the integration of international commerce. Remittances are a well-known useful source of revenue for developing nations, and they are growing in popularity. Increased GDP, funding of investments and the reduction of poverty are all advantages for economies. In this study, we examined the impact of FDI and remittances on the economies of the five selected SAARC countries, consisting of Afghanistan, Bangladesh, India, Sri Lanka, and Pakistan. The data was used for the period of 2008-2020. For the mentioned study, co-integrating regression was used to investigate the long-run association between these variables. In order to know the impact of the independent variables on the dependent variables, we used the Fully Modified Ordinary Least Square and Dynamic Ordinary Least Square regression tests which are used for co-integrating and non-stationary data. The results suggested that foreign direct investment (FDI) and remittances have positive effects on the economic growth of the panel nations. Furthermore, we conducted the Granger causality test, and the findings revealed that remittances and economic growth are both influenced by each other in a bidirectional way and no causality relationship between FDI and economic growth.

Kaynakça

  • Alfieri, A. Havinga, I. (2006, 2 24). Definition of Remittances. Retrieved 9 21, 2021, from https://unstats.un.org/unsd/tradeserv/tsg3-feb06/tsg0602-14.pdf
  • Ayanwale, A. B. (2007). FDI and Economic Growth. Nairobi: The African Economic Research Consortium.
  • Bende-Nabende, A., and J.L Ford. (1998). FDI, Policy Adjustment and Endogenous Growth:Multiplier Effects from a Small Dynamic Model for Taiwan 1959–1995. World Development, 26(7), p. 1315–1330.
  • Comes, C.-A., Bunduchi, E., Vasile, V., and Stefan, D. (2018). The Impact of Foreign Direct Investments and Remittances on Economic Growth: A Case Study in Central and Eastern Europe. Sustainability, 10(1), p. 238.
  • Dahal, P. (2014). The Impact of Remittances on Economic Growth in Nepal: An Analysis of a Significant Basis of Development. Asia Pacific Journal of Public Administration, 36(4), p. 261-282.
  • De Gregorio, J. (2003). The Role of Foreign Direct Investment and Natural Resources in Economic Development. Working Paper No 196. Santiago: Central Bank of Chile.
  • Eftimoski, D., and Josheski, D. (2020). Reopening The Debate on The Relationship Among Remittances, Household Consumption Stability and Economic Growth in Emerging Markets. International Journal of Emerging Markets, ahead-of-print (ahead-of-print), ahead-of-print .
  • Elboiashi, H. A. (2011). The Effect Of FDI and other Foreign Capital Inflows on Growth and Investment in Developing Economies (Phd Theses). Department of Economics, University of Glasgow. Fayissa, B., & Nsiah, C. (2010). The Impact of Remittances on Economic Growth and Development in Africa. The American Economist, 55(2), p. 92–103.
  • Ferdaous, J. (2016). Impact of Remittances and FDI on Economic Growth: A Panel Data Analysis. Journal of Business Studies Quarterly, 8(2), p. 8-77.
  • Golitsis, P., Avdiu, K., and Szamosi, Leslie T. (2018). Remittances and FDI Effects on Economic Growth: A VECM and GIRFs for the Case of Albania. Journal of East-West Business, 24(3), p. 188-211.
  • J, D. J. (2014). Exogenous and Endogenous Growth, University of Pretoria ETD.
  • Lopez, H., Molina, L., and Bussolo, M. (2007). Remittances and The Real Exchange Rate. Policy Research Working Paper; No. 4213. Washington DC: World Bank.
  • Mahembe, E., and Odhiambo, NM. (2014). Foreign Direct Investment and Economic Growth: A Theoretical Framework. Journal of Governance and Regulation, 3(2).
  • Makun, K. (2018). Imports, Remittances, Direct Foreign Investment And Economic Growth in Republic of The Fiji Islands: An Empirical Analysis Using ARDL Approach. Kasetsart Journal of Social Sciences, 39(3), p. 439-447.
  • Mansoor, A., and Quillin, B. (2007). Migration and Remittances: Eastern Europe and the Former Soviet Union. Washington DC: World Bank.
  • Migration Data. (2021, June 03). Remittances. Retrieved Sep 22, 2021, from Migration Data Portal: https://www.migrationdataportal.org/themes/remittances
  • Mint. (2020, Aug 7). A Remittances Crisi Facing South Asia. Retrieved Sep 23, 2021, from Live Mint: https://www.livemint.com/opinion/online-views/a-remittances-crisis-facing-south-asia-11596799996817.html
  • OECD. (2002). Foreign Direct Investment for Development Maximizing Benefits Minimizing Costs. Paris: OECD Publications Service.
  • OECD. (2020). Foreign Direct Investment. Retrieved 9 21, 2021, from OECD iLiberary: https://www.oecd-ilibrary.org/finance-and-investment/foreign-direct-investment-fdi/indicator-group/english_9a523b18-en
  • O'Neill, A. C. (2001). Emigrant Remittances: Policies to Increase Inflows and Maximize Benefits. Indiana Journal of Global Legal Studies, 9(1), p. 345-360.
  • Pradhan, Gyan., Upadhyay, Mukti., and Upadhyaya, Kamal. (2008). Remittances And Economic Growth in Developing Countries. The European Journal of Development Research, 20(3), p. 497-506.
  • Song, Y., Ummalla, M., Zakari, A., & Kummitha, H.R. (2021). The Effect of Remittances and FDI Inflows on Income Distribution in Developing Economies. Economic Analysis and Policy, 72, p. 255-265.
  • Sutradhar, S. (2020). The Impact of Remittances on Economic Growth in Bangladesh, India, Pakistan and Sri Lanka. International Journal of Economic Policy Studies, 14(1), p. 275-295.
  • The World Bank Data. (2020). Personal Remittances. Retrieved Sep 22, 2021, from The World Bank Data: https://data.worldbank.org/indicator/BX.TRF.PWKR.CD.DT?end=2020&start=1990
  • The World Bank Data. (2021, May 12). Defying Predictions, Remittance Flows Remain Strong During COVID-19 Crisis. Retrieved Sep 22, 2021, from The World Bank Data: https://www.worldbank.org/en/news/press-release/2021/05/12/defying-predictions-remittance-flows-remain-strong-during-covid-19-crisis
  • UNCTAD. (2021, June 21). Investment flows to developing Asia defy COVID-19, grow by 4%. Retrieved Sep 23, 2021, from UNCTAD: https://unctad.org/news/investment-flows-developing-asia-defy-covid-19-grow-4

DYY ve İşçi Havalelerinin Seçilmiş SAARC Ülkelerinin Ekonomik Büyümesi Üzerindeki Etkileri

Yıl 2021, Cilt: 3 Sayı: 2, 66 - 76, 31.12.2021

Öz

Doğrudan yabancı yatırım (DYY), teknoloji yayılmaları, insan sermayesi üretimi ve uluslararası ticaretin entegrasyonu yoluyla bir ülkenin ekonomik kalkınmasına katkıda bulunur. Havaleler, gelişmekte olan ülkeler için iyi bilinen yararlı bir gelir kaynağıdır ve popülaritesi artmaktadır. Artan GSYİH, yatırımların finansmanı ve yoksulluğun azaltılması ekonomiler için avantajlardır. Bu çalışmada, Afganistan, Bangladeş, Hindistan, Sri Lanka ve Pakistan'dan oluşan seçilmiş beş SAARC ülkesinin ekonomileri üzerindeki DYY ve işçi dövizlerinin etkisini inceledik. Veriler 2008-2020 dönemi için kullanılmıştır. Bahsedilen çalışma için, bu değişkenler arasındaki uzun dönemli ilişkiyi araştırmak için eşbütünleşik regresyon kullanılmıştır. Bağımsız değişkenlerin bağımlı değişkenler üzerindeki etkisini bilmek için, eşbütünleşik ve durağan olmayan veriler için kullanılan Tam Değiştirilmiş Sıradan En Küçük Kare ve Dinamik Sıradan En Küçük Kare regresyon testleri kullanılmıştır. Sonuçlar, doğrudan yabancı yatırımın (DYY) ve işçi dövizlerinin panel ülkelerin ekonomik büyümesi üzerinde olumlu etkileri olduğunu ortaya koymuştur. Ayrıca, Granger nedensellik testi gerçekleştirilmiş ve bulgular, işçi dövizlerinin ve ekonomik büyümenin birbirlerinden çift yönlü bir şekilde etkilendiğini ve DYY ile ekonomik büyüme arasında hiçbir nedensellik ilişkisi olmadığını ortaya koymuştur.

Kaynakça

  • Alfieri, A. Havinga, I. (2006, 2 24). Definition of Remittances. Retrieved 9 21, 2021, from https://unstats.un.org/unsd/tradeserv/tsg3-feb06/tsg0602-14.pdf
  • Ayanwale, A. B. (2007). FDI and Economic Growth. Nairobi: The African Economic Research Consortium.
  • Bende-Nabende, A., and J.L Ford. (1998). FDI, Policy Adjustment and Endogenous Growth:Multiplier Effects from a Small Dynamic Model for Taiwan 1959–1995. World Development, 26(7), p. 1315–1330.
  • Comes, C.-A., Bunduchi, E., Vasile, V., and Stefan, D. (2018). The Impact of Foreign Direct Investments and Remittances on Economic Growth: A Case Study in Central and Eastern Europe. Sustainability, 10(1), p. 238.
  • Dahal, P. (2014). The Impact of Remittances on Economic Growth in Nepal: An Analysis of a Significant Basis of Development. Asia Pacific Journal of Public Administration, 36(4), p. 261-282.
  • De Gregorio, J. (2003). The Role of Foreign Direct Investment and Natural Resources in Economic Development. Working Paper No 196. Santiago: Central Bank of Chile.
  • Eftimoski, D., and Josheski, D. (2020). Reopening The Debate on The Relationship Among Remittances, Household Consumption Stability and Economic Growth in Emerging Markets. International Journal of Emerging Markets, ahead-of-print (ahead-of-print), ahead-of-print .
  • Elboiashi, H. A. (2011). The Effect Of FDI and other Foreign Capital Inflows on Growth and Investment in Developing Economies (Phd Theses). Department of Economics, University of Glasgow. Fayissa, B., & Nsiah, C. (2010). The Impact of Remittances on Economic Growth and Development in Africa. The American Economist, 55(2), p. 92–103.
  • Ferdaous, J. (2016). Impact of Remittances and FDI on Economic Growth: A Panel Data Analysis. Journal of Business Studies Quarterly, 8(2), p. 8-77.
  • Golitsis, P., Avdiu, K., and Szamosi, Leslie T. (2018). Remittances and FDI Effects on Economic Growth: A VECM and GIRFs for the Case of Albania. Journal of East-West Business, 24(3), p. 188-211.
  • J, D. J. (2014). Exogenous and Endogenous Growth, University of Pretoria ETD.
  • Lopez, H., Molina, L., and Bussolo, M. (2007). Remittances and The Real Exchange Rate. Policy Research Working Paper; No. 4213. Washington DC: World Bank.
  • Mahembe, E., and Odhiambo, NM. (2014). Foreign Direct Investment and Economic Growth: A Theoretical Framework. Journal of Governance and Regulation, 3(2).
  • Makun, K. (2018). Imports, Remittances, Direct Foreign Investment And Economic Growth in Republic of The Fiji Islands: An Empirical Analysis Using ARDL Approach. Kasetsart Journal of Social Sciences, 39(3), p. 439-447.
  • Mansoor, A., and Quillin, B. (2007). Migration and Remittances: Eastern Europe and the Former Soviet Union. Washington DC: World Bank.
  • Migration Data. (2021, June 03). Remittances. Retrieved Sep 22, 2021, from Migration Data Portal: https://www.migrationdataportal.org/themes/remittances
  • Mint. (2020, Aug 7). A Remittances Crisi Facing South Asia. Retrieved Sep 23, 2021, from Live Mint: https://www.livemint.com/opinion/online-views/a-remittances-crisis-facing-south-asia-11596799996817.html
  • OECD. (2002). Foreign Direct Investment for Development Maximizing Benefits Minimizing Costs. Paris: OECD Publications Service.
  • OECD. (2020). Foreign Direct Investment. Retrieved 9 21, 2021, from OECD iLiberary: https://www.oecd-ilibrary.org/finance-and-investment/foreign-direct-investment-fdi/indicator-group/english_9a523b18-en
  • O'Neill, A. C. (2001). Emigrant Remittances: Policies to Increase Inflows and Maximize Benefits. Indiana Journal of Global Legal Studies, 9(1), p. 345-360.
  • Pradhan, Gyan., Upadhyay, Mukti., and Upadhyaya, Kamal. (2008). Remittances And Economic Growth in Developing Countries. The European Journal of Development Research, 20(3), p. 497-506.
  • Song, Y., Ummalla, M., Zakari, A., & Kummitha, H.R. (2021). The Effect of Remittances and FDI Inflows on Income Distribution in Developing Economies. Economic Analysis and Policy, 72, p. 255-265.
  • Sutradhar, S. (2020). The Impact of Remittances on Economic Growth in Bangladesh, India, Pakistan and Sri Lanka. International Journal of Economic Policy Studies, 14(1), p. 275-295.
  • The World Bank Data. (2020). Personal Remittances. Retrieved Sep 22, 2021, from The World Bank Data: https://data.worldbank.org/indicator/BX.TRF.PWKR.CD.DT?end=2020&start=1990
  • The World Bank Data. (2021, May 12). Defying Predictions, Remittance Flows Remain Strong During COVID-19 Crisis. Retrieved Sep 22, 2021, from The World Bank Data: https://www.worldbank.org/en/news/press-release/2021/05/12/defying-predictions-remittance-flows-remain-strong-during-covid-19-crisis
  • UNCTAD. (2021, June 21). Investment flows to developing Asia defy COVID-19, grow by 4%. Retrieved Sep 23, 2021, from UNCTAD: https://unctad.org/news/investment-flows-developing-asia-defy-covid-19-grow-4
Toplam 26 adet kaynakça vardır.

Ayrıntılar

Birincil Dil İngilizce
Bölüm Araştırma Makaleleri
Yazarlar

Burcu Güvenek 0000-0002-7159-2555

Abdul Khatir 0000-0002-3882-8204

Yayımlanma Tarihi 31 Aralık 2021
Gönderilme Tarihi 11 Ekim 2021
Yayımlandığı Sayı Yıl 2021 Cilt: 3 Sayı: 2

Kaynak Göster

APA Güvenek, B., & Khatir, A. (2021). THE EFFECTS OF FDI AND REMITTANCES ON THE ECONOMIC GROWTH OF SELECTED SAARC COUNTRIES. İktisadi Ve İdari Yaklaşımlar Dergisi, 3(2), 66-76.