Özet:

Many developing and emerging countries have relied on foreign savings to accelerate economic growth The accumulation of external debt has been a common phenomenon in developing countries especially at the stage of development where the supply of domestic savings has been low and current account deficits have been high The objective of this study is to examine the issue of Turkey’s current account deficit sustainability in the period of 1964 2003 using yearly data The examination is based on Husted’s dynamic model which taking into account the evolution of the key variables such as exports bilateral transfer and interest payments plus to imports We have tested for a long run relationship between export and analogous import measures with using some econometric tests that include Augmented Dickey Fuller ADF Unitroot Test and standard two stage Engle Granger E G Cointegration tests In the result of tests we have shown that the hypothesis of no long run relationship between exports and imports cannot be rejected The meaning of this finding is that Turkey current account deficits are not sustainable Keywords: Current Account Deficits Sustainability Engle Granger Cointegration Test ADF Unitroot Test

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