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    Do human capital and governance thresholds matter for the environmental impact of FDI? The evidence from MENA countries
    (Springer Heidelberg, 2023) Tasdemir, Fatma; Ozcelik, Seda Ekmen
    This paper studies whether foreign direct investment (FDI)-CO2 emissions relationship may change depending on the data-driven estimated threshold levels for the country characteristics (CC) including human capital and governance in a sample of 13 Middle East and North Africa (MENA) economies during the 1996-2019 period. Our results strongly suggest that endogenously estimated CC thresholds matter for the impact of FDI on CO2 emissions. The pollution haven hypothesis, which maintains that FDI is associated with higher levels of pollution, appears to be valid for economies with weak CC. In addition to this, the pollution halo argument suggesting FDI lowers the emissions appears to be hold in countries with strong CC. The results in this study may indicate that policies aiming to improve human capital and governance may be expected not only to increase the economic benefits of FDI in terms of growth but also mitigate the negative environmental impacts of FDI in the MENA region.
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    Öğe
    Globalisation, Financialisation and Endogenous Thresholds for Premature Deindustrialisation
    (Wiley, 2024) Ozcelik, Seda Ekmen; Ozmen, Erdal; Tasdemir, Fatma
    We investigate the pattern and determinants of premature deindustrialisation (PD) for a large panel of advanced, emerging and developing economies. We consider the impacts of international financial integration (de facto financial globalisation), capital account openness (de jure financial globalisation) and financialisation which are often neglected by the literature along with the conventional determinants of industrialisation. The recent literature often employs conventional fixed-effects panel data estimation procedures to estimate and test the postulated inverted-U relationship between manufacturing value-added share in GDP and real income. We employ non-parametric kernel regression to identify the pattern between these variables. In addition, this study analyses the determinants of industrialisation not only by employing the generalised method of moments procedure but also the recent methods allowing to estimate endogenous thresholds. In this context, we also examine whether income and globalisation provide endogenous thresholds for the effect of income on the processes of industrialisation and PD for our samples.