Foreign direct investment (FDI) outflows from Türkiye have increased significantly in African nations over the last two decades. This increasing trend of Turkish investment on the continent of Africa needs a thorough assessment of how FDI affects the economic growth of African nations. To address this issue, our study looks at the impact of Turkish outward FDI on the growth of selected African countries during the period spanning from 2005 to 2021. To investigate the question, we use the Pooled Mean Group (PMG) estimator in our analysis. According to the study's findings, Turkish outward FDI has a significant and positive effect on the economic growth of selected African countries. In addition, our research identifies two additional key drivers of economic growth within these selected African nations: the labor force and the shadow economy. These factors, too, exhibit a positive and significant impact on the growth paths of the countries under consideration. Based on these findings, the study recommends that it is imperative for African governments to actively encourage Turkish enterprises to expand their investment footprint across the continent. By nurturing and sustaining this positive FDI environment, African nations can harness the potential of Turkish capital to further boost their economic growth, job opportunities, and overall prosperity. ORCID NO: 0000-0001-7339-4571
Anahtar Kelimeler: Türkiye, Africa, FDI, Growth, ARDL
|
