Openness effect on employment: BRICS-T example

After 1980, the name "Emerging Markets" was used to refer to developing countries. The IMF's World Economic Outlook report in 2015, 23 countries involved in BRICS countries and Turkey also took place in the classification of emerging markets. The countries of Brazil, Russia, India, China and South Korea, which are called "BRICS" , attract attention with their economic success. After the BRICS countries began to converge, their economic indicators started to improve. Therefore, BRICS countries are expected to be among the major economies that shape the world economy in the future. Theoretically, globalization is expected to have positive impact on economies. In this study, during 1991-2017 the effect of trade openness on employment in Turkey and the BRICS countries were examined. Variables used in the study; unemployment, trade openness, fixed capital formation and real growth rate. Panel ARDL was used as the application method. Our analysis results showed that it does not meet the theoretical expectations. In other words, as the openness ratio increases, unemployment increases.