Proje finansmanı ile finanse edilen yatırımların insani gelişme endeksi (İGE) üzerine etkisi

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Thesis Type: Postgraduate

Institution Of The Thesis: Istanbul University, Institute of Social Sciences, İşletme Fakültesi Bölümü, Turkey

Approval Date: 2024

Thesis Language: Turkish

Student: MELİS ŞAHİN DEMİREL

Supervisor: Burçay Yaşar Akçalı

Abstract:

This study provides a detailed analysis through an econometric model of the impact of World Bank-financed projects on the Human Development Index (HDI) in 18 countries in Europe and Central Asia and 271 projects between 1994-2022. It examines the geographical distribution, financing types, debt-to-equity ratios, and cost structures of these projects and emphasizes their strategic focus on sectors such as energy and transportation. Consistent with existing literature on project outcomes and development needs, the research reveals significant cost differences depending on type and financing mechanism. The last section, through panel data, analyzes whether there is a relationship between the expenditures related to investments financed by the World Bank and the HDI. The variables determined in the econometric model are chosen for this purpose. The variables used in the study are as follows; HDI (dependent variable), capex of projects (independent variable), total reserves (control variable), share of education expenditures in total gross domestic product (control variable), share of female employment in total employment (control variable) and life expectancy (control variable). As a result of the model, the relationship between World Bank projects and the HDI has been analyzed. This study contributes to international development finance by providing information on the effectiveness of World Bank projects. Keywords: World Bank, Project Finance, Human Development Index, Gross Domestic Product, International Development Finance, Panel Data.