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The Relationship Between the Country Selection Decision of Foreign Portfolio Investments and the Economic Freedom Index

Author

Listed:
  • Cem Kartal

    (Sakarya University of Applied Sciences)

  • Mürüvet Acar Karaboğa

    (Zonguldak Bulent Ecevi̇t University)

Abstract

First of all, countries with a higher level of economic freedom are more attractive to foreign investors. In this study, a multiple linear regression model covering 128 countries was created and analyzed in order to investigate the effects of 2019 and 2020 components that make up the economic freedom index on foreign portfolio investment in countries. The effect of the factors discussed in the study on the country selection decision for foreign portfolio investment was investigated and the findings revealed that the effect level of each component is different.

Suggested Citation

  • Cem Kartal & Mürüvet Acar Karaboğa, 2023. "The Relationship Between the Country Selection Decision of Foreign Portfolio Investments and the Economic Freedom Index," Journal of Finance Letters (Maliye ve Finans Yazıları), Maliye ve Finans Yazıları Yayıncılık Ltd. Şti., vol. 38(120), pages 11-30, October.
    • Handle: RePEc:acc:malfin:v:38:y:2023:i:120:p:11-30
    DOI: https://doi.org/10.33203/mfy.1182652
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    More about this item

    Keywords

    Economic freedom index; Foreign portfolio investments; Variance inflation factor; Explanatory factor analysis;
    All these keywords.

    JEL classification:

    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • G17 - Financial Economics - - General Financial Markets - - - Financial Forecasting and Simulation

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