Özet:

The balance of payments is summary table of a country`s international trade with other countries. It has four main parts that are current account, capital account, net errors and omissions and reserve assets. Basically the current account is consider as a country`s international trade because it contains import and export data. In this paper, current account data of Turkish balance of payments is regressed with inflation, exchange rate and gross domestic product (GDP) for 1998M01-2010M12 period. When crises are analyzed during this period, findings of chow test and dummy variable approach show that the crises cause structural breaks on the model. When the effects of crises are taken into account, robust estimation results have been obtained.

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