Detailansicht

The increasing foreign direct investments in Turkey in context with the recent economic crisis

Eser Ergin

Art der Arbeit

Diplomarbeit

Universität

Universität Wien

Fakultät

Fakultät für Wirtschaftswissenschaften

Betreuer*in

Jörg Finsinger

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DOI

10.25365/thesis.4609

URN

urn:nbn:at:at-ubw:1-29891.76244.982761-1

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(Print-Exemplar eventuell in Bibliothek verfügbar)

Abstracts

Abstract

(Deutsch)

Die bevorstehende Arbeit umfasst die ausländische Direktinvestitionen in die Türkei, die wirtschaftliche Attraktivität der Türkei, und die Reformen der türkischen Regierung sowie die globale Finanzkrise.

Abstract

(Englisch)

During the 1990s, circumstances in the world economy substantially changed. Developing countries have initiated political and economical reforms in order to eliminate the barriers of trade and to encourage the FDI transactions. Together with the integration and development of transport and information technologies, the production activities of companies accelerated and became more globalized. As a result of these progresses, the world trade volume, and especially the flows of foreign direct investments, began increasing in the early 1990s. Today, the foreign direct investments have been the main and the most important instrument among the capital flows running into developing countries. Developing countries, which have recognized the beneficial points of the foreign direct investment flows, have strived to work for liberalizing their economies. Sectors such as telecommunication, transport and energy, which are rather domestically operated, have even been introduced to foreign capital. Many countries have initiated reforms and enacted laws for eliminating the bureaucratic, administrative and legislative difficulties and barriers in order to support and improve the investment environment. This competitive environment among the countries points out the benefits and positive effects of the foreign capital inflows. It is a well known fact that the foreign direct investment activities offer significant development opportunities for the developing countries. High efficiency and productivity growth, administrative and high technological know-how are to be gained through the investment flows, which the multinational enterprises realize in the economies of these countries. Foreign direct investments simultaneously increase the rate of employment, national income and export efforts. As long as the foreign direct investments are supported, the capital accumulation for the future economic growth can easily be obtained. Until 2003, Turkey indeed has not been very successful in attracting the FDI inflows among its competing countries. In 1980, the previously import oriented economy of Turkey were converted to an export-oriented one and reforms were carried out so that the foreign trade could become more liberalized. As a part of this policy, the state controls on financial markets were reduced and herewith the economy was attempted to be integrated with the global economic system. Nevertheless, the liberalization of the financial markets alone was not sufficient to solve the macroeconomic problems of Turkey. The high inflation and unemployment rates, low participation rates, economic and political instability were the main problems of Turkey which caused the economic crisis in 2001. After the crisis, the unemployment rate rose by more than 10% and the credit interest rates were more than 16 %. The Turkish government made substantial reforms to 10 improve the investment environment. With assistance of the World Bank, the “Coordination Council for the Improvement of the Investment Environment – CCIIE” (YOIKK) was established after the enactment of the Foreign Direct Investment Law in 2003. The number of foreign companies which was 6.529 in 2003 has successfully increased to 21.632 in 2008. The Turkish FDI volume increased and reached over USD 22.000 million in 2007 which was only USD 1.751 million in 2003. As a result of the recent economic crisis the world has been suffering, an overall decrease has been observed in the world FDI flows. This paper studies the attractiveness of the investment environment of Turkey, the efforts of the Turkish government for improving this investment environment, and the performance in the foreign direct investment inflows before and during the global financial crisis.

Autor*innen

Eser Ergin

Haupttitel (Englisch)

The increasing foreign direct investments in Turkey in context with the recent economic crisis

Paralleltitel (Deutsch)

Die ansteigenden ausländischen Direktinvestitionen in der Türkei im Zusammenhang mit der globalen Finanzkrise

Publikationsjahr

2009

Umfangsangabe

105 S.

Sprache

Englisch

Beurteiler*in

Jörg Finsinger

Klassifikation

85 Betriebswirtschaft > 85.00 Betriebswirtschaft: Allgemeines

AC Nummer

AC07652390

Utheses ID

4097

Studienkennzahl

UA | 157 | | |

Detailansicht

Abstracts

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