Turkish outward direct investment: a historical and spatial perspective

Studies on foreign direct investment (FDI) in Turkey have historically been focused on inward FDI rather than outward FDI. Yet, recently the activities of Turkish firms have fostered an impressive outflow of direct investment abroad. In this way, this paper examines the sectoral characteristics and...

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Bibliographic Details
Published in:Bilig (Ankara) 2012-10, Vol.63, p.237-270
Main Author: Yavan, Nuri
Format: Article
Language:eng ; tur
Subjects:
Foreign direct investment
Globalization
International investment
Internationalization
Investment analysis
Multinational enterprises
Turkey
Online Access:Get full text
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Summary:Studies on foreign direct investment (FDI) in Turkey have historically been focused on inward FDI rather than outward FDI. Yet, recently the activities of Turkish firms have fostered an impressive outflow of direct investment abroad. In this way, this paper examines the sectoral characteristics and spatial distribution of Turkish outward FDI in the world from a historical and geographical perspective. Using secondary data from various sources, the paper provides a historical and evolutionary framework for examining the emergence and growth of Turkish outward FDI. The paper contributes to the literature in four ways: First, outward FDI by Turkish firms can be traced back to the Early Republican Period. Second, there are six key turning points in the historical development of Turkish Outward FDI. Third, more than two-thirds of Turkish outward FDI has gone to banking, manufacturing, trade and energy activities. Fourth, the location of Turkish firms has been heavily concentrated on Western Europe, the Central Asia, Balkans, and Eastern Europe. As a result, Turkey has become a significant outward FDI investor at the regional level. Reprinted by permission of Ahmet Yesevi University
ISSN:1301-0549