Abstract
<jats:p>This study examines the structural constraints surrounding the enhancement of Turkey's resilience. The study first addresses those factors that pose a risk of diminishing resilience. In this context, the importance of three key factors – insufficient savings, the current account deficit, and financial and trade imbalances – is emphasized. Following this, the study analyzes models that use output volatility as a resilience indicator. It then explores whether interest rate and exchange rate volatility can be considered a resilience indicator. Finally, the performance of Turkey and the BRICS countries during the global financial crisis and the COVID-19 pandemic experienced by the world economy in recent years is comparatively analyzed, using it as a resilience barometer.</jats:p>