Sönmez, Filiz ErataşSağlam Liman, Yağmur2025-03-232025-03-2320191307-98321307-9859https://doi.org/10.18092/ulikidince.423904https://search.trdizin.gov.tr/tr/yayin/detay/339450https://hdl.handle.net/11486/3667According 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.eninfo:eu-repo/semantics/openAccessİktisatArticle022516410.18092/ulikidince.423904339450