Brüt Sabit Sermaye Oluşumunun ve Doğrudan Yabancı Sermaye Yatırımlarının Ekonomik Büyüme Üzerindeki Etkisi: Türkiye Özelinde Ampirik Bir Analiz
The Effect of Gross Fixed Capital Formation and Foreign Direct Investments on Economic Growth: An Empirical Analysis in Türkiye

Summary/Abstract: The primary aim of economies classified as underdeveloped and developing countries is to bring their countries to the developed country category by implementing a sustainable growth policy. Although a century has passed since its establishment, the growth path of the Turkish economy still has not reached the developed country category. In this respect, it has become more important to understand which economic variable affects growth and how, in Türkiye, in order to determine and implement growth strategies more effectively. In this context, the aim of the study is to analyze the effects of gross fixed capital formation and foreign direct investment on economic growth in the long and short term, using the ARDL boundary test for the 1974-2021 time period, in Türkiye. The analysis findings show that there is a cointegration relationship between gross fixed capital formation and foreign direct investment and growth in Türkiye in the examined period, and the deviations from the short-term balance are eliminated in the long-term. The findings obtained as a result of the study indicate that there is a negative relationship between gross fixed capital formation and economic growth in the short run, while there is a positive relationship in the long run. When the relationship between foreign direct investments and economic growth is analyzed, the situation is reversed; While the findings indicate the existence of a short-term positive relationship, they indicate the existence of a long-term negative relationship.

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