Akademik Veri Yönetim Sistemi
18th International Scientific Conference on Economic and Social Development (ESD) - Building Resilient Society, Zagreb, Hırvatistan, 9 - 10 Aralık 2016, ss.612-618, (Tam Metin Bildiri)
Foreign portfolio investments (FPI) are accepted as one of the major component of capital flows. By reason of financial liberalization and globalization process, foreign portfolio investment have become crucial especially for the countries which have the gap of national saving. Although there are numerous studies which investigate the relationship between foreign portfolio investment and economic growth, limited number of studies investigate this relationship by using nonlinear time series analysis. The objective of this study is to examine the impact of foreign portfolio investment on economic growth of Turkey. For this purpose, 1998-2016 period data were considered and nonlinear co-integration test was performed. According to the co-integration and error correction analysis findings, the variables are co-integrated and there is one-way positive relationship from portfolio investment to economic growth. This finding points out the importance of the foreign portfolio investments in economic growth of Turkey.