KISA VADELİ YABANCI SERMAYE AKIMLARI VE EKONOMİK BÜYÜME: YÜKSELEN PİYASA EKONOMİLERİ ÜZERİNE BİR İNCELEME.

In paper, the relationship between short-term foreign capital flows and economic growth is empirically investigated for the total 26 emerging market economies that are classified as the lower opening level and the higher opening level at 2004-2014 period. In investigating this relationship, System Generalized Method of Moments, which is one of autoregressive panel data estimators and produced by Arellano and Bover / Blundell and Bond is used. When investigated 2004-2014 period, it is maked out that the rise in the share of short-term capital flows into gross domestic product positively affects economic growth for both of country group on this period. The results obtained are paralleled the argument about short-term capital flows and the literature. Accordingly, short-term capital outflows in case cause the recession and the financial crisis, whereas short-term capital inflows cause booming on economic growth. [ABSTRACT FROM AUTHOR]