Global value chains in the era of changing globalisation scenario: perspective from BRICS

Arti Yadav and Badar Alam Iqbal

International Journal of Innovation and Sustainable Development, 2024, vol. 18, issue 1/2, 14-29

Abstract: The aim of the present study is to empirically examine the role of selected macro-economic variables on the global value chains participation index of BRICS countries using the Pooled Mean group Auto-Regressive Distributed Lag method. The study also highlighted the impact of the coronavirus pandemic on the global value chains (GVC). The findings show that foreign direct investment is significant in the long run as well as short-run, while real effective exchange rate, current account balance, trade, and gross domestic product (GDP) growth rate are significant only in the long run for BRICS economies. The study further suggests that globalisation has way more positive effects than moving away from it.

Keywords: GVC; global value chains; globalisation; BRICS; Covid-19; economic growth; backward GVC; forward GVC; foreign direct investment; trade openness; current account balance. (search for similar items in EconPapers)
Date: 2024
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