The Determinants Of Trade Volume Between Turkey And Bric Countries: A Gravity Model Analysis
The acronym BRIC expresses the “growth markets” which are expected to become the most powerful economies in the next 40 years. These countries are estimated to catch up with G6 countries’ economic growth figures and to become the main engine of new increase in demand and spending power to balance the slowing economic growth and population in the developed economies. The N-11 countries including Turkey are expected to have a similar economic performance of BRIC countries and to have an effect in the world economy. As a result of this, Turkey with other 3 countries, Mexico, Indonesia and South Korea, emerge as the most potential owner and promising countries in the perspective of 2050. In this content, Turkey’s position in the world economy and foreign trade with BRIC countries are becoming increasingly important. In this study, the trade volume between Turkey and BRIC countries was analyzed using panel gravity model and unlike other studies Trade Dependency Index, Import Penetration Index and Export Propensity Index is included to find out how these indices affect the Turkey’s trade with the BRIC countries.
Volume (Year): 21 (2012)
Issue (Month): 1 ()
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