Journal of Current Research on Social Sciences (JoCReSS) - ISSN: 2547-9644

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Abstract


Innovation of Foreign Direct Investments of OECD Countries

Domestic and international savings are needed to finance investments. Foreign savings are needed at the point where domestic savings are insufficient. In this case, the cost of borrowing may decrease the disposable income of the citizens of the country in the next period and cause decrease of the national welfare. On the other hand, foreign direct investment can be considered as a factor, which contributes to increase in domestic investments and thus economic growth develop without incurring borrowing costs. At the same time, one of the important determinants is the difference of development and economic growth between countries. At this point, it can be said that the level of technological development is determined by the innovation activities, which carried out in the countries. For this reason, in this study, it is aimed to investigate whether direct foreign capital inflows to OECD countries, for the period 1984-2017, are innovative in the long term. For this purpose, net inflows of foreign direct investments to OECD countries, patent applications indicators of residents and non-residents were taken as proxy variables, and the relationship between these variables was investigated by Westerlund panel cointegration analysis method. According to the results obtained in the implementation, there is a relationship between foreign capital inflows to OECD countries and patent applications in the long term. Therefore, it can be said that direct foreign capital inflows to OECD countries affect innovation activities.



Keywords
Foreign Direct Investment, Patents, Panel Data Analyses



Kaynakça

Gelişmiş Arama


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