EN
TR
Financial Compliance Assessment and Future Perspective in BRICS-T Countries
Abstract
BRICS countries are regarded as an alternative to Western nations, and by some as a complementary group, and are often described as “emerging powers.” The countries forming this group differ significantly from one another in economic and political terms over time. In terms of their structural characteristics, each country possesses economic and financial systems shaped by its own internal dynamics. When examining the level of harmony among these countries in achieving common goals, it becomes evident that differences in economic, social, and political structures can influence policy-making processes. Nevertheless, decisions taken in line with collective objectives may accelerate efforts to reduce such differences. In defining the foundational principles that bind the BRICS community together, an approach based on equal participation in the decision-making process independent of economic and military power, has been adopted. Harmony is considered a crucial criterion not only for ensuring internal sustainability, institutionalization, and competitiveness, but also for strengthening the group’s future outlook and maintaining coherence as it expands through external participation. Given their growing importance in terms of population size, natural resources, and share of the global economy, this study analyzes BRICS countries with a focus on macroeconomic stability targets. This research is supported by statistical data drawn from the existing literature. Previous studies show that various variables are taken into account when measuring economic indicators. In contrast, this study compares the indicators used in the macroeconomic stability targets of BRICS countries within the framework of fiscal adjustment criteria. The European Union’s Maastricht criteria are applied as fiscal adjustment measures. For future research, it would be valuable to examine which adjustment criteria would be most appropriate for BRICS+ countries and to assess their applicability in line with the group’s institutional framework.
Keywords
Supporting Institution
No financial support was received for the conduct of the research.
Ethical Statement
This paper complies with Research and Publication Ethics, has no conflict of interest to declare, and has received no financial support. The article has been checked for spelling and plagiarism/similarity. The article was evaluated by "at least two external referees" and "double blinding" method. The author(s) sent a signed "Copyright Transfer Form" to the journal. There is no need to obtain ethical permission for the current study as per the legislation. The "Declaration Form Regarding No Ethics Permission Required" was sent to the journal by the authors on this subject.
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Details
Primary Language
Turkish
Subjects
Financial Law
Journal Section
Research Article
Publication Date
December 31, 2025
Submission Date
November 7, 2025
Acceptance Date
December 29, 2025
Published in Issue
Year 1970 Volume: 8 Number: 4