How Regional Integration and Transnational Energy Networks Have Boosted FDI in Turkey (and May Cease to Do So) : A Case Study--How Geo-Political Alliances and Regional Networks Matter
Turkey has historically struggled to attract foreign investors. This paper argues that not only macroeconomic and political stability, but also regional integration explains the upsurge in foreign direct investment observed since 2005. The analysis...
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| Format: | Policy Research Working Paper |
| Language: | English en_US |
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World Bank Group, Washington, DC
2014
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| Online Access: | http://documents.worldbank.org/curated/en/2014/07/19877174/regional-integration-transnational-energy-networks-boosted-fdi-turkey-may-cease-so-case-study-geo-political-alliances-regional-networks-matter http://hdl.handle.net/10986/19354 |
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okr-10986-19354 |
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oai_dc |
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Digital Repository |
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Foreign Institution |
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Digital Repositories |
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World Bank Open Knowledge Repository |
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World Bank |
| language |
English en_US |
| topic |
ACCESSION NEGOTIATIONS ACCESSION NEGOTIATIONS BALANCE OF PAYMENTS BALANCE OF PAYMENTS CRISIS BALANCE OF PAYMENTS BILATERAL TRADE BILATERAL TRADE FLOWS BUSINESS ENVIRONMENT BUSINESS ENVIRONMENT CAPITAL FLOWS CAPITAL ACCOUNT LIBERALIZATION CAPITAL ACCOUNT OPENING CAPITAL CONTROLS CAPITAL FLOWS CAPITAL MARKET CAPITAL MARKET REFORMS CAPITAL MARKETS CAPITAL MOBILITY CAPITAL MOVEMENTS CAPITAL OUTFLOWS COAL COMMERCIAL POLICY COMMERCIALIZATION COMMON MARKET COMMON CUSTOMS COMMON CUSTOMS TARIFF COMMON EXTERNAL TARIFF COMMON MARKET COMPETITION LAW COMPETITION POLICY COMPUTATIONAL ECONOMICS CORPORATE GOVERNANCE COUNTRY OF ORIGIN CROSS-COUNTRY REGRESSION CURRENT ACCOUNT DEFICIT CUSTOM UNION CUSTOMS CUSTOMS UNION CUSTOMS UNION AGREEMENT CUSTOMS DUTIES CUSTOMS TARIFF CUSTOMS UNION CUSTOMS UNION AGREEMENT CUSTOMS UNIONS DEBT STOCK DIRECT INVESTMENT DIRECT INVESTMENT DIRECT INVESTMENT INFLOWS DOMESTIC INVESTMENT DOMESTIC MARKET DOMESTIC ONES DOMESTIC REFORMS ECONOMIC COMMUNITY ECONOMIC COMMUNITY ECONOMIC COOPERATION ECONOMIC INTEGRATION ECONOMIC LIBERALIZATION EXPORT PERFORMANCE EXTERNAL TARIFF FACTOR ANALYSIS FDI FOREIGN OWNERSHIP FOREIGN DIRECT INVESTMENT FOREIGN INVESTMENT FOREIGN INVESTMENTS FOREIGN INVESTORS FOREIGN CAPITAL FOREIGN COMPANIES FOREIGN DIRECT INVESTMENT FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN INVESTMENT FOREIGN INVESTMENT FLOWS FOREIGN INVESTOR FOREIGN INVESTORS FOREIGN OWNERSHIP FOREIGN TRADE FOSTERING TRADE FREE MOVEMENT OF CAPITAL FREE MOVEMENT OF CAPITAL FREE TRADE AGREEMENT FREE TRADE AGREEMENTS FULL CAPITAL MOBILITY GAS GLOBAL CAPITAL FLOWS HOST COUNTRY HOST ECONOMY HUMAN CAPITAL IMPORT QUOTAS IMPORT TARIFFS INFORMATION SOCIETY INTELLECTUAL PROPERTY INTELLECTUAL PROPERTY RIGHTS INTELLECTUAL PROPERTY INTELLECTUAL PROPERTY LAW INTELLECTUAL PROPERTY RIGHTS INTEREST GROUPS INTERNAL MARKET INTERNATIONAL TRADE INTERNATIONAL INVESTMENT INTERNATIONAL INVESTORS INTERNATIONAL TRADE INVESTMENT CLIMATE INVESTMENT FLOWS INVESTMENT CLIMATE INVESTMENT FLOWS INVESTMENT INCENTIVES INVESTMENT POLICY INVESTMENT PROTECTION JOINT VENTURE JOINT VENTURE KNOWLEDGE THEORY LIBERALIZED MARKET MACROECONOMIC STABILITY MARKET ACCESS MARKET ORIENTATION MARKET SIZE MOVEMENT OF CAPITAL MOVEMENT OF CAPITAL MULTINATIONAL ENTERPRISES NEIGHBORING COUNTRIES OIL OIL PRICES OPEN ECONOMY PETROLEUM GAS PETROLEUM MARKET POSITIVE EXTERNALITIES PROTECTION OF INTELLECTUAL PROPERTY RIGHTS PROTECTIONIST MEASURES REGIONAL INTEGRATION REGIONAL AGREEMENTS REGIONAL INITIATIVES REGIONAL INTEGRATION REGIONAL INTEGRATION AGREEMENT REGIONAL INTEGRATION AGREEMENT REGIONAL INTEGRATION AGREEMENTS REGIONAL INTEGRATION INITIATIVES REGIONAL SCIENCE REGIONALISM REGULATORY REFORM SHORT-TERM CAPITAL SPATIAL ORGANIZATION STATE OWNED ENTERPRISES SUBSIDIARIES TECHNICAL STANDARDS TECHNOLOGY TRANSFER TRADE FLOWS TRADE PREFERENCES TRADE TREATIES TRANSNATIONAL CORPORATIONS TRANSNATIONAL CORPORATIONS |
| spellingShingle |
ACCESSION NEGOTIATIONS ACCESSION NEGOTIATIONS BALANCE OF PAYMENTS BALANCE OF PAYMENTS CRISIS BALANCE OF PAYMENTS BILATERAL TRADE BILATERAL TRADE FLOWS BUSINESS ENVIRONMENT BUSINESS ENVIRONMENT CAPITAL FLOWS CAPITAL ACCOUNT LIBERALIZATION CAPITAL ACCOUNT OPENING CAPITAL CONTROLS CAPITAL FLOWS CAPITAL MARKET CAPITAL MARKET REFORMS CAPITAL MARKETS CAPITAL MOBILITY CAPITAL MOVEMENTS CAPITAL OUTFLOWS COAL COMMERCIAL POLICY COMMERCIALIZATION COMMON MARKET COMMON CUSTOMS COMMON CUSTOMS TARIFF COMMON EXTERNAL TARIFF COMMON MARKET COMPETITION LAW COMPETITION POLICY COMPUTATIONAL ECONOMICS CORPORATE GOVERNANCE COUNTRY OF ORIGIN CROSS-COUNTRY REGRESSION CURRENT ACCOUNT DEFICIT CUSTOM UNION CUSTOMS CUSTOMS UNION CUSTOMS UNION AGREEMENT CUSTOMS DUTIES CUSTOMS TARIFF CUSTOMS UNION CUSTOMS UNION AGREEMENT CUSTOMS UNIONS DEBT STOCK DIRECT INVESTMENT DIRECT INVESTMENT DIRECT INVESTMENT INFLOWS DOMESTIC INVESTMENT DOMESTIC MARKET DOMESTIC ONES DOMESTIC REFORMS ECONOMIC COMMUNITY ECONOMIC COMMUNITY ECONOMIC COOPERATION ECONOMIC INTEGRATION ECONOMIC LIBERALIZATION EXPORT PERFORMANCE EXTERNAL TARIFF FACTOR ANALYSIS FDI FOREIGN OWNERSHIP FOREIGN DIRECT INVESTMENT FOREIGN INVESTMENT FOREIGN INVESTMENTS FOREIGN INVESTORS FOREIGN CAPITAL FOREIGN COMPANIES FOREIGN DIRECT INVESTMENT FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN INVESTMENT FOREIGN INVESTMENT FLOWS FOREIGN INVESTOR FOREIGN INVESTORS FOREIGN OWNERSHIP FOREIGN TRADE FOSTERING TRADE FREE MOVEMENT OF CAPITAL FREE MOVEMENT OF CAPITAL FREE TRADE AGREEMENT FREE TRADE AGREEMENTS FULL CAPITAL MOBILITY GAS GLOBAL CAPITAL FLOWS HOST COUNTRY HOST ECONOMY HUMAN CAPITAL IMPORT QUOTAS IMPORT TARIFFS INFORMATION SOCIETY INTELLECTUAL PROPERTY INTELLECTUAL PROPERTY RIGHTS INTELLECTUAL PROPERTY INTELLECTUAL PROPERTY LAW INTELLECTUAL PROPERTY RIGHTS INTEREST GROUPS INTERNAL MARKET INTERNATIONAL TRADE INTERNATIONAL INVESTMENT INTERNATIONAL INVESTORS INTERNATIONAL TRADE INVESTMENT CLIMATE INVESTMENT FLOWS INVESTMENT CLIMATE INVESTMENT FLOWS INVESTMENT INCENTIVES INVESTMENT POLICY INVESTMENT PROTECTION JOINT VENTURE JOINT VENTURE KNOWLEDGE THEORY LIBERALIZED MARKET MACROECONOMIC STABILITY MARKET ACCESS MARKET ORIENTATION MARKET SIZE MOVEMENT OF CAPITAL MOVEMENT OF CAPITAL MULTINATIONAL ENTERPRISES NEIGHBORING COUNTRIES OIL OIL PRICES OPEN ECONOMY PETROLEUM GAS PETROLEUM MARKET POSITIVE EXTERNALITIES PROTECTION OF INTELLECTUAL PROPERTY RIGHTS PROTECTIONIST MEASURES REGIONAL INTEGRATION REGIONAL AGREEMENTS REGIONAL INITIATIVES REGIONAL INTEGRATION REGIONAL INTEGRATION AGREEMENT REGIONAL INTEGRATION AGREEMENT REGIONAL INTEGRATION AGREEMENTS REGIONAL INTEGRATION INITIATIVES REGIONAL SCIENCE REGIONALISM REGULATORY REFORM SHORT-TERM CAPITAL SPATIAL ORGANIZATION STATE OWNED ENTERPRISES SUBSIDIARIES TECHNICAL STANDARDS TECHNOLOGY TRANSFER TRADE FLOWS TRADE PREFERENCES TRADE TREATIES TRANSNATIONAL CORPORATIONS TRANSNATIONAL CORPORATIONS Sanchez Martin, Miguel Eduardo Escribano Frances, Gonzalo de Arce Borda, Rafael How Regional Integration and Transnational Energy Networks Have Boosted FDI in Turkey (and May Cease to Do So) : A Case Study--How Geo-Political Alliances and Regional Networks Matter |
| geographic_facet |
Europe and Central Asia Turkey |
| relation |
Policy Research Working Paper;No. 6970 |
| description |
Turkey has historically struggled to
attract foreign investors. This paper argues that not only
macroeconomic and political stability, but also regional
integration explains the upsurge in foreign direct
investment observed since 2005. The analysis draws from a
qualitative framework. It discusses how, contrary to the
Customs Union Treaty for industrial products with the
European Union, the official start of the European
Union's accession to negotiations in 2005 encompassed a
wide set of reforms in several chapters directly or
indirectly affecting the business climate. The reforms
helped to enhance foreign direct investment attraction in
Turkey. However, it seems that the global economic slowdown
starting in 2009 and increasing Euro-skepticism have already
started to erode this effect. Only large foreign investment
in the energy sector observed in 2009-13, explained by the
energy security strategy of the European Union and the
privatization agenda, has prevented the collapse of foreign
direct investment inflows to Turkey. |
| format |
Publications & Research :: Policy Research Working Paper |
| author |
Sanchez Martin, Miguel Eduardo Escribano Frances, Gonzalo de Arce Borda, Rafael |
| author_facet |
Sanchez Martin, Miguel Eduardo Escribano Frances, Gonzalo de Arce Borda, Rafael |
| author_sort |
Sanchez Martin, Miguel Eduardo |
| title |
How Regional Integration and Transnational Energy Networks Have Boosted FDI in Turkey (and May Cease to Do So) : A Case Study--How Geo-Political Alliances and Regional Networks Matter |
| title_short |
How Regional Integration and Transnational Energy Networks Have Boosted FDI in Turkey (and May Cease to Do So) : A Case Study--How Geo-Political Alliances and Regional Networks Matter |
| title_full |
How Regional Integration and Transnational Energy Networks Have Boosted FDI in Turkey (and May Cease to Do So) : A Case Study--How Geo-Political Alliances and Regional Networks Matter |
| title_fullStr |
How Regional Integration and Transnational Energy Networks Have Boosted FDI in Turkey (and May Cease to Do So) : A Case Study--How Geo-Political Alliances and Regional Networks Matter |
| title_full_unstemmed |
How Regional Integration and Transnational Energy Networks Have Boosted FDI in Turkey (and May Cease to Do So) : A Case Study--How Geo-Political Alliances and Regional Networks Matter |
| title_sort |
how regional integration and transnational energy networks have boosted fdi in turkey (and may cease to do so) : a case study--how geo-political alliances and regional networks matter |
| publisher |
World Bank Group, Washington, DC |
| publishDate |
2014 |
| url |
http://documents.worldbank.org/curated/en/2014/07/19877174/regional-integration-transnational-energy-networks-boosted-fdi-turkey-may-cease-so-case-study-geo-political-alliances-regional-networks-matter http://hdl.handle.net/10986/19354 |
| _version_ |
1764443811504717824 |
| spelling |
okr-10986-193542021-04-23T14:03:51Z How Regional Integration and Transnational Energy Networks Have Boosted FDI in Turkey (and May Cease to Do So) : A Case Study--How Geo-Political Alliances and Regional Networks Matter Sanchez Martin, Miguel Eduardo Escribano Frances, Gonzalo de Arce Borda, Rafael ACCESSION NEGOTIATIONS ACCESSION NEGOTIATIONS BALANCE OF PAYMENTS BALANCE OF PAYMENTS CRISIS BALANCE OF PAYMENTS BILATERAL TRADE BILATERAL TRADE FLOWS BUSINESS ENVIRONMENT BUSINESS ENVIRONMENT CAPITAL FLOWS CAPITAL ACCOUNT LIBERALIZATION CAPITAL ACCOUNT OPENING CAPITAL CONTROLS CAPITAL FLOWS CAPITAL MARKET CAPITAL MARKET REFORMS CAPITAL MARKETS CAPITAL MOBILITY CAPITAL MOVEMENTS CAPITAL OUTFLOWS COAL COMMERCIAL POLICY COMMERCIALIZATION COMMON MARKET COMMON CUSTOMS COMMON CUSTOMS TARIFF COMMON EXTERNAL TARIFF COMMON MARKET COMPETITION LAW COMPETITION POLICY COMPUTATIONAL ECONOMICS CORPORATE GOVERNANCE COUNTRY OF ORIGIN CROSS-COUNTRY REGRESSION CURRENT ACCOUNT DEFICIT CUSTOM UNION CUSTOMS CUSTOMS UNION CUSTOMS UNION AGREEMENT CUSTOMS DUTIES CUSTOMS TARIFF CUSTOMS UNION CUSTOMS UNION AGREEMENT CUSTOMS UNIONS DEBT STOCK DIRECT INVESTMENT DIRECT INVESTMENT DIRECT INVESTMENT INFLOWS DOMESTIC INVESTMENT DOMESTIC MARKET DOMESTIC ONES DOMESTIC REFORMS ECONOMIC COMMUNITY ECONOMIC COMMUNITY ECONOMIC COOPERATION ECONOMIC INTEGRATION ECONOMIC LIBERALIZATION EXPORT PERFORMANCE EXTERNAL TARIFF FACTOR ANALYSIS FDI FOREIGN OWNERSHIP FOREIGN DIRECT INVESTMENT FOREIGN INVESTMENT FOREIGN INVESTMENTS FOREIGN INVESTORS FOREIGN CAPITAL FOREIGN COMPANIES FOREIGN DIRECT INVESTMENT FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN INVESTMENT FOREIGN INVESTMENT FLOWS FOREIGN INVESTOR FOREIGN INVESTORS FOREIGN OWNERSHIP FOREIGN TRADE FOSTERING TRADE FREE MOVEMENT OF CAPITAL FREE MOVEMENT OF CAPITAL FREE TRADE AGREEMENT FREE TRADE AGREEMENTS FULL CAPITAL MOBILITY GAS GLOBAL CAPITAL FLOWS HOST COUNTRY HOST ECONOMY HUMAN CAPITAL IMPORT QUOTAS IMPORT TARIFFS INFORMATION SOCIETY INTELLECTUAL PROPERTY INTELLECTUAL PROPERTY RIGHTS INTELLECTUAL PROPERTY INTELLECTUAL PROPERTY LAW INTELLECTUAL PROPERTY RIGHTS INTEREST GROUPS INTERNAL MARKET INTERNATIONAL TRADE INTERNATIONAL INVESTMENT INTERNATIONAL INVESTORS INTERNATIONAL TRADE INVESTMENT CLIMATE INVESTMENT FLOWS INVESTMENT CLIMATE INVESTMENT FLOWS INVESTMENT INCENTIVES INVESTMENT POLICY INVESTMENT PROTECTION JOINT VENTURE JOINT VENTURE KNOWLEDGE THEORY LIBERALIZED MARKET MACROECONOMIC STABILITY MARKET ACCESS MARKET ORIENTATION MARKET SIZE MOVEMENT OF CAPITAL MOVEMENT OF CAPITAL MULTINATIONAL ENTERPRISES NEIGHBORING COUNTRIES OIL OIL PRICES OPEN ECONOMY PETROLEUM GAS PETROLEUM MARKET POSITIVE EXTERNALITIES PROTECTION OF INTELLECTUAL PROPERTY RIGHTS PROTECTIONIST MEASURES REGIONAL INTEGRATION REGIONAL AGREEMENTS REGIONAL INITIATIVES REGIONAL INTEGRATION REGIONAL INTEGRATION AGREEMENT REGIONAL INTEGRATION AGREEMENT REGIONAL INTEGRATION AGREEMENTS REGIONAL INTEGRATION INITIATIVES REGIONAL SCIENCE REGIONALISM REGULATORY REFORM SHORT-TERM CAPITAL SPATIAL ORGANIZATION STATE OWNED ENTERPRISES SUBSIDIARIES TECHNICAL STANDARDS TECHNOLOGY TRANSFER TRADE FLOWS TRADE PREFERENCES TRADE TREATIES TRANSNATIONAL CORPORATIONS TRANSNATIONAL CORPORATIONS Turkey has historically struggled to attract foreign investors. This paper argues that not only macroeconomic and political stability, but also regional integration explains the upsurge in foreign direct investment observed since 2005. The analysis draws from a qualitative framework. It discusses how, contrary to the Customs Union Treaty for industrial products with the European Union, the official start of the European Union's accession to negotiations in 2005 encompassed a wide set of reforms in several chapters directly or indirectly affecting the business climate. The reforms helped to enhance foreign direct investment attraction in Turkey. However, it seems that the global economic slowdown starting in 2009 and increasing Euro-skepticism have already started to erode this effect. Only large foreign investment in the energy sector observed in 2009-13, explained by the energy security strategy of the European Union and the privatization agenda, has prevented the collapse of foreign direct investment inflows to Turkey. 2014-08-15T14:59:36Z 2014-08-15T14:59:36Z 2014-07 http://documents.worldbank.org/curated/en/2014/07/19877174/regional-integration-transnational-energy-networks-boosted-fdi-turkey-may-cease-so-case-study-geo-political-alliances-regional-networks-matter http://hdl.handle.net/10986/19354 English en_US Policy Research Working Paper;No. 6970 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Group, Washington, DC Publications & Research :: Policy Research Working Paper Publications & Research Europe and Central Asia Turkey |