| Abstract | The idea of institutional factors may play a crucial role in the development process. Also, it can
be important for the economic success of countries. The Institutional Quality Index has been extensively
considered by economic literature. In this study, the Institutional Quality Index of BRICS-T countries
(Brazil, Russia, India, China, South Africa, Turkey) were calculated by Principal Component Analysis
using 16 variables for the period 1995-2017. In the first stage, 16 variables have been split up into three factors
as economic, social, and political by Principal Component Analysis. In the second stage, The Institutional
Quality Index was computed for each country for the period 1995-2017. The results show that while
South Africa has the highest Institutional Quality Index value, Turkey has the smallest value. |
