Exchange rate uncertainty and FDI inflows: the case of Turkey

被引：13

作者：

Polat, Burcak ^{[1
]}

Payaslioglu, Cem ^{[1
]}

机构：

[1] Eastern Mediterranean Univ, Dept Econ, TR-10 Mersin, Turkey

来源：

ASIA-PACIFIC JOURNAL OF ACCOUNTING & ECONOMICS | 2016年 / 23卷 / 01期

关键词：

FDI; real exchange rate; Markov switching model; volatility; GARCH; FOREIGN DIRECT-INVESTMENT; US DIRECT-INVESTMENT; RATE VOLATILITY; TIME-SERIES; IMPACT; MODELS;

D O I：

10.1080/16081625.2015.1032312

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

In this paper, using monthly data for the period of 2004-2014, we employ a Markov switching model to examine the impact of the level and volatility of real exchange rate (RER) on foreign direct investment (FDI) inflows to Turkey along with a set of control factors. Our estimation results do not support any effect of volatility or the RER. On the other hand, internal factors such as agglomeration effect, inflation, new incentive measures of 2009, and external factors such as Euro area policy interest rate and risk appetite turn out to be effective in driving FDI into the host country.

引用

页码：112 / 129

页数：18

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