EVALUATING THE ECONOMIC PERFORMANCE OF THE BRICS-T COUNTRIES IN TERMS OF KNOWLEDGE ECONOMY: 2000-2023 PANEL DATA ANALYSIS

Year 2025, Volume: 26 Issue: 3, 446 - 468, 28.09.2025

Kerem Sezerer , Burak Arslan , Erol Kutlu

https://doi.org/10.53443/anadoluibfd.1667996

Abstract

Knowledge is vital for economic growth, so it's important to invest in research, communication, and education to make the most of it. The Knowledge Economy Index, a tool used by the World Bank, is a good way to measure this. This index employs a multifaceted approach to evaluate knowledge economies across seven key headings. For the seven subheadings, we analyze Brazil, Russia, India, China, South Africa, and Turkey for the years 2000-2023. A panel data analysis was conducted using AMG and CCEMG methods. The aim of the study is to assess Turkey and other applicant countries against the BRICS knowledge economy index and to make policy recommendations. Many studies have looked at the economic effects of knowledge economy components, but not many include Turkey or BRICS countries. In Turkey's candidacy period for BRICS full membership, the present study will significantly contribute to literature. It will provide valuable guidance for researchers and policymakers on evaluating the membership's consequences.
The analysis shows that the knowledge economy is linked to economic performance in Turkey and the BRICS countries. The CCEMG and AMG models demonstrate how regulatory quality and life expectancy after births are positive and significant, while exports to GDP and foreign direct investment are negative and significant. Service sector employees to the labor force, internet users to the total population, and GDI variables did not yield significant results. Brazil and China are more impacted by regulation than Turkey. The study shows FDI positively impacts Turkey's economic growth. Brazil's is driven mainly by GDP. Analysis reveals a big disparity in productivity between Turkey and the BRICS countries. Research indicates high quality and longevity benefit the economy.

Keywords

Common Correlated Effects Mean Group (CCEMG) Estimator , Knowledge Economy , BRICS-T Countries , Panel Data Analysis

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