@article{article_1769346, title={Sustainability of External Debts: BRICST Countries}, journal={JOEEP: Journal of Emerging Economies and Policy}, volume={10}, pages={430–449}, year={2025}, author={Gerede, Cemaleddin and Ateş, İsmet}, keywords={Global risk, Business activity, Global challenges, COVID-19}, abstract={This study investigates the sustainability of external debt in BRICST countries, a group that holds a strategic position in the global economy. For this purpose, three widely used indicators, namely Total External Debt Stock/GNI, Total External Debt Stock/Exports and Debt Service Ratio, of debt sustainability are analysed using annual data covering the period 1994–2020. The analysis employs second-generation panel unit root tests that allow for structural breaks and cross-sectional dependence, namely Carrion-i-Silvestre, Pesaran CADF, and Becker Fourier KPSS tests. The findings suggest that external debt is not sustainable in India, China, South Africa and Turkey, while it remains sustainable in Brazil and Russia.}, number={2}, publisher={Seyfettin ERDOĞAN}