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EXAMINATION OF THIRLWALL’S LAW FOR BRIC-T COUNTRIES

Authors: Sönmez, Filiz Erataş; Sağlam Liman, Yağmur;

EXAMINATION OF THIRLWALL’S LAW FOR BRIC-T COUNTRIES

Abstract

According to the Thirlwall’s Law, the main factor which restricts the economic growth in an open economy isthe balance of payments. The aim of this study is to investigate the validity of the Thirlwall Law for BRIC-T(Brazil, Russi India, China, Turkey) countries for the period between 2000 and 2015. Panel data analysis hasbeen used in the empirical part of the study. Heterogeneity (vice versa) and cross-sectional dependency ofthe variables are examined with some preliminary tests. Respectively, Delta test and CDlm test have beenapplied. After proving the stability of the variables with second generation panel unit root tests, the long-termcointegration relationship is estimated by Westerlund Durbin-H test. According to the results, Thirlwall’s Lawis not valid for BRIC-T economies.

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Turkey
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selected citations
These citations are derived from selected sources.
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
0
Average
Average
Average
Green