Türkiye'den Çıkan Doğrudan Yatırımları Belirleyen Etmenler, 1992-2005

Translated title of the contribution: Factors determining the direct investment from Turkey, 1992-2005

Mehtap Hisarciklilar, Saime Suna Kayam

Research output: Contribution to journalArticlepeer-review


In this study, we examine the determinants of outward direct investment from Turkey to eleven countries which constitute the bulk of outward stock in the period 1992-2005. A gravity model is estimated by random effects modeling considering factors such as bilateral trade, economic stability, and productivity as well as the basic gravity variables of gross domestic product per capita for both the source and destination countries, the distance between them, and population. The evidence shows that Turkish outward direct investments are mainly market oriented / horizontal FDI and are positively related to distance and to Turkish exports to the destination country. An interesting finding reveals that Turkish outward investments are negatively related to both the source and destination country's gross domestic product per capita.
Translated title of the contributionFactors determining the direct investment from Turkey, 1992-2005
Original languageTurkish
Pages (from-to)47-70
Number of pages24
Journalİktisat, İşletme ve Finans
Issue number280
Publication statusPublished - 1 Jul 2009


  • Foreign direct investment
  • gravity model
  • panel data econometrics
  • Turkey


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