Shortly called as BRIC firstly in the early 2000s Brazil, Russia, India and China that
have common characters like wide area, big population and rapid economic growth
are accepted as the fastest growing “emerging market” in world economy (O’Neill,
2001:1-16). Total area of these countries contains more than 25% of the world area
and total population of them contains more than 40% of the world population. It is
argued that BRIC group would take G7 group’s place and get the leadership of the
world economy when the economic indicators are considered (Frank and Frank,
2010:46-54). Goldman Sachs who has studies about BRIC countries estimates that
in 2050 China will be the greatest economy in the world, India will be the third,
Brazil will be the fourth and Russia will be the sixth biggest economy. Based on
these indicators, in our study the effect of openness on economic growth will be
searched for BRIC countries and Turkey that is the most developing country after
China and has a developing economy.