Foreıgn dırect capıtal ınvestments and export relatıonshıp: ardl bound testing approach for the turkısh economy

In this study, the relationship between foreign direct investment inflows and exports was\rtested with the ARDL Bound Test Approach, with the help of annual data for the 1980-2020\rperiod for the Turkish economy. In the model established to determine the relationship\rbetween the variables, exports were used as the dependent variable and foreign direct\rinvestment inflows were used as the independent variable. In addition, the real effective\rexchange rate, openness and per capita GDP averages of the 20 countries to which Turkey\rexports the most are included in the model as control variables. According to the findings; in\rthe long run, foreign direct investments, real effective exchange rate, openness to foreign\rtrade, and the GDPs of the most exported countries affect exports in a positive and\rstatistically significant way. In addition to this result, it is seen that a 1% change in foreign\rdirect investments causes a 0.21% change in Turkey's exports. In addition, in the error\rcorrection model established, it has been determined that approximately 39.4% of the\rdeviations that occur in one period are stabilized in the next period