DEMELER B LAN OSU A AMALARI TEOR S : TüRK YE RNE

It is believed that the pattern of a country’sbalance of payments is linked to level of economicdevelopment. Balance of payments stages thesisstates that the stages occur as the economy movesthorough phases growth. This paper examines theempirical relevance of the balance of paymentsstages in Turkish case. Runs up and down test showthat Turkey balance of payments has not fallowedany regular pattern. Therefore balance o paymentsstages thesis is not verified with Turkish data(1968-2004).