The effects of foreign direct investment,external debt and trade openness on economic growth: evidences from ottoman empire 1881-1913
The 19th century marked tremendous changes to the Ottoman economy in many ways. The substantial amount was transferred from Europe to the Ottoman Empire in the form of an external loan or foreign investment. More important, substantial amounts were given as a result of the ongoing process of reforms...
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Universiti Sains Islam Malaysia |
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English |
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Investments Foreign economic growth Investments |
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Investments Foreign economic growth Investments Lotfi Demikha The effects of foreign direct investment,external debt and trade openness on economic growth: evidences from ottoman empire 1881-1913 |
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The 19th century marked tremendous changes to the Ottoman economy in many ways. The substantial amount was transferred from Europe to the Ottoman Empire in the form of an external loan or foreign investment. More important, substantial amounts were given as a result of the ongoing process of reforms and modernization that the Ottoman Empire engaged attempting to establish a western-style army. Hence, the flow of funds helped the European power to obtain commercial privileges or concessions to undertake a significant investment project. More importantly, the exchange of goods was in favour of imported ones relative to exports, and this was residing mainly on the fact that these European products enjoyed the exemption from taxes. Three main issues are addressed in this thesis. Firstly, the potential macroeconomic determinants for FDI in OE. The second matter is the external debt which is largely relevant to the financial control of European powers who tried to intervene into the domestic affairs. The third key issue is pertained to investigating the influence of foreign direct investment, external debts, and trade openness on the economic growth of Ottoman Empire. The existing literature lacks a comprehensive quantitative analysis of this pattern. Indeed, a great focus was given to the Ottoman Empire history, but minimal attention was directed to the financial performance of the Ottoman economy during the last quarter of the 19th century. Thus, the tales behind the scene remained blur, and the most plausible explanation lies in the book of history, and leaves a vacuum in term of econometric analysis. Therefore, this study is a response to such a shortage in this field. This study utilizes the time-series technique “Autoregressive Distributed Lag Model” (ARDL) on macroeconomic data for the period 1881-1914. The study reveals a significant positive effect of external debt, trade openness, and government expenditure on economic growth. The obtained results also highlight the fact that foreign direct investment and inflation showed a significant negative impact on economic growth. Our findings recommend on focusing on adopting economic policies that promote generating funds using local sources instead of relying on external funders to boost economic development. |
| format |
Thesis |
| author |
Lotfi Demikha |
| author_facet |
Lotfi Demikha |
| author_sort |
Lotfi Demikha |
| title |
The effects of foreign direct investment,external debt and trade openness on economic growth: evidences from ottoman empire 1881-1913 |
| title_short |
The effects of foreign direct investment,external debt and trade openness on economic growth: evidences from ottoman empire 1881-1913 |
| title_full |
The effects of foreign direct investment,external debt and trade openness on economic growth: evidences from ottoman empire 1881-1913 |
| title_fullStr |
The effects of foreign direct investment,external debt and trade openness on economic growth: evidences from ottoman empire 1881-1913 |
| title_full_unstemmed |
The effects of foreign direct investment,external debt and trade openness on economic growth: evidences from ottoman empire 1881-1913 |
| title_sort |
effects of foreign direct investment,external debt and trade openness on economic growth: evidences from ottoman empire 1881-1913 |
| granting_institution |
Universiti Sains Islam Malaysia |
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my-usim-ddms-133012024-05-29T20:04:41Z The effects of foreign direct investment,external debt and trade openness on economic growth: evidences from ottoman empire 1881-1913 Lotfi Demikha The 19th century marked tremendous changes to the Ottoman economy in many ways. The substantial amount was transferred from Europe to the Ottoman Empire in the form of an external loan or foreign investment. More important, substantial amounts were given as a result of the ongoing process of reforms and modernization that the Ottoman Empire engaged attempting to establish a western-style army. Hence, the flow of funds helped the European power to obtain commercial privileges or concessions to undertake a significant investment project. More importantly, the exchange of goods was in favour of imported ones relative to exports, and this was residing mainly on the fact that these European products enjoyed the exemption from taxes. Three main issues are addressed in this thesis. Firstly, the potential macroeconomic determinants for FDI in OE. The second matter is the external debt which is largely relevant to the financial control of European powers who tried to intervene into the domestic affairs. The third key issue is pertained to investigating the influence of foreign direct investment, external debts, and trade openness on the economic growth of Ottoman Empire. The existing literature lacks a comprehensive quantitative analysis of this pattern. Indeed, a great focus was given to the Ottoman Empire history, but minimal attention was directed to the financial performance of the Ottoman economy during the last quarter of the 19th century. Thus, the tales behind the scene remained blur, and the most plausible explanation lies in the book of history, and leaves a vacuum in term of econometric analysis. Therefore, this study is a response to such a shortage in this field. This study utilizes the time-series technique “Autoregressive Distributed Lag Model” (ARDL) on macroeconomic data for the period 1881-1914. The study reveals a significant positive effect of external debt, trade openness, and government expenditure on economic growth. The obtained results also highlight the fact that foreign direct investment and inflation showed a significant negative impact on economic growth. Our findings recommend on focusing on adopting economic policies that promote generating funds using local sources instead of relying on external funders to boost economic development. Universiti Sains Islam Malaysia 2020-10 Thesis en https://oarep.usim.edu.my/handle/123456789/13301 https://oarep.usim.edu.my/bitstreams/8b1e44f4-337c-423f-8139-5cb9c9047a1a/download 8a4605be74aa9ea9d79846c1fba20a33 https://oarep.usim.edu.my/bitstreams/334c0473-fa8e-4c7c-bfa8-88d653b01e2c/download 010686b6d092eb98bd3f3201e691ddf7 https://oarep.usim.edu.my/bitstreams/f1400074-d55e-4c56-af53-fc464986c81b/download ffdc23a5fbeb95bf1ee3f9b4d27ceffa https://oarep.usim.edu.my/bitstreams/07d677f0-3a24-441d-84fa-4b32b060913c/download a60758a050c51b21e3bef8fce8fb5bfe https://oarep.usim.edu.my/bitstreams/edd238d5-2269-4ab1-86d1-bae47b13b86c/download 5e1a3dd78a09eb8d138e5c981e2520ce https://oarep.usim.edu.my/bitstreams/10af20b5-451c-4cbe-a83f-9c362b38a23a/download 08b0edbf7c9c42f772c9f1da4ae7b221 https://oarep.usim.edu.my/bitstreams/0a0aae01-467c-45ec-abd0-50b2fa21a3c6/download d7e62ee6aa3eb577694184b5d20e46a4 https://oarep.usim.edu.my/bitstreams/b83269e2-3a4b-45bc-8e7c-305469860196/download a68ee0327597d7acd2b1f25f651ee3b0 https://oarep.usim.edu.my/bitstreams/c41ef52d-2749-4e68-b42b-1983c7f956ee/download c15000f8c6cc7987edfef9c156763b5b https://oarep.usim.edu.my/bitstreams/5b3066c2-e005-4ba6-b8f9-a069419b6d02/download a61ad5a40c74ac1b35dc2de44bd30ea5 https://oarep.usim.edu.my/bitstreams/cc0d7efc-3dd5-4f4b-9b8c-a215b813543d/download 850812aec76d66e01d38a62074537781 https://oarep.usim.edu.my/bitstreams/f4bbaad9-96a2-4f45-a0f4-9817badeee9c/download d5f06ba53ab59cec01e0c852c2af4766 https://oarep.usim.edu.my/bitstreams/4f750112-3c3e-428b-aad9-4466967cec94/download 72da8feffa83f3a4b0672f65c5f91cbb https://oarep.usim.edu.my/bitstreams/f77dd06f-fc39-4aae-af24-2dd50c857a3a/download eb6dc3324d3a60a2a3bd4d76107a6d55 https://oarep.usim.edu.my/bitstreams/05b48c9c-1b8c-4098-ae33-15948165eadc/download 523cd09e8be8a6ff844b42ed8609c24d https://oarep.usim.edu.my/bitstreams/2a993dec-83b3-4adc-8087-df8c479dad85/download 8b9478e5136a4498b921daf4085b6ce7 https://oarep.usim.edu.my/bitstreams/6fd45bf9-1eb4-4b81-8e39-14d771161d3b/download 2ea3055cb32242cde60a4d03d81511c9 https://oarep.usim.edu.my/bitstreams/155ab3cd-0548-4db4-aaa0-7b01a141508c/download e0425b1ef37fbc5f47b97e33851f8469 https://oarep.usim.edu.my/bitstreams/03cebc3d-7e67-4999-8ebe-5f64bf887a5f/download 19d80ac39446f73a1d0a91376110eccb Investments Foreign economic growth Ottoman Empire, case study |