Institutional distance and Turkey’s outward foreign direct investment

Jason Heavilin and Hilmi Songur

Research in International Business and Finance, 2020, vol. 54, issue C

Abstract: This study empirically examines the relation between institutional distance (ID) and Turkey’s outward foreign direct investment (TODI). The empirical results use panel data from 2002 to 2016 to show that TODI is attracted to countries with better institutional quality. We also find that host country political stability, government effectiveness, control of corruption, and rule of law attract TODI. We also document that TODI is positively related to cultural distance (CD) and ID is not moderated by CD.

Keywords: Institutional distance; Cultural distance; Outward foreign direct investment; Turkey; Emerging markets; Economic distance (search for similar items in EconPapers)
JEL-codes: F21 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:riibaf:v:54:y:2020:i:c:s0275531919300467

DOI: 10.1016/j.ribaf.2020.101299

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