Can money be compared to energy? Empirical analysis of making money with the E = mc2 logic

Abstract

In this study, the E = mc 2 principle that energy can be derived from mass and energy as itself was adapted for money. In the study, it was meant to provide a natural dimension to not using money other than the intent of exchange and the necessity of earning money by producing. To this end, the effect of foreign direct investments that are representing production and portfolio investments' effects on economic growth as representing monetary activities. The findings showed that both in the long and short term, there is a positive and significant relationship between FDI and economic growth. No such relationship has been found for portfolio investments. This result coincides with the E = mc 2 relationship.