How can foreign protectionism affect local FDI
A protectionist policy in other countries could take the form of providing more incentives for companies to invest domestically instead of abroad. For example, U.S. companies face penalties if they invest abroad compared to investing in the U.S. or they have more benefits from investing in the U.S. now compared to before. Anyhow, companies outside of Turkey could have more inventives to invest in their own countries, which in turn means they have less incentives to invest abroad, which in turn means they have less incentives to invest in Turkey, which in turn means they invest less in Turkey.