DOĞRUDAN YABANCI YATIRIMLARIN FİNANSAL KAPSAYICILIK ÜZERİNE ETKİSİ ÜZERİNE AMPİRİK BİR ARAŞTIRMA

Authors : Shabeer KHAN, Hakan ASLAN, Ayan OMER

Pages : 479-494

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Publication Date : 2023-03-01

Article Type : Research Paper

Abstract :Many studies discuss the result of foreign direct investment on the financial development and economic growth of different countries, but the FDI\`s effect on financial inclusion is considered understudied and not yet subjected to proper empirical evaluation. Therefore, this paper empirically examines the impact of foreign direct investment insert ignore into journalissuearticles values(FDI); on financial inclusion corresponding to its different quantiles for a maximum sample of 99 countries over the period 2005- 2016 by using the non-parametric analysis, namely the non-parametric quantile regression approach with Markov Chain Monte Carlo insert ignore into journalissuearticles values(MCMC); optimization that allows examining the impact of FDI on financial inclusion at a different level of financial inclusion. The results suggest that the impact of FDI on financial inclusion varies across countries based on the level of financial inclusion. Specifically, the FDI has a positive and statistically significant association with financial inclusion in all quantiles indicating that FDI does increase financial inclusion regardless of having low, medium, or high levels of financial inclusion. The study recommends that decision-makers need to consider FDI while developing policies for the improvement of financial inclusion.
Keywords : Panel Kantil Regresyon, Finansal Kapsayıcılık, Doğrudan Yabancı Yatırımları, MCMC Optimizasyon Yaklaşımı