Integration effects in exports induced economic growth: evidence from extended ELG model in BRICS

T.G. Saji

International Journal of Trade and Global Markets, 2021, vol. 14, issue 3, 304-324

Abstract: This research aims to assess the competitiveness of BRICS nations and to investigate its effects on their export performance and economic growth. Our fixed-effects panel regression procedure proves the competitiveness effects on export performance, where the influence of terms of trade and relative profitability of exports are dominant. The export-led-growth (ELG) model seems to be valid in estimating BRICS growth and the inclusion of inward foreign direct investment (FDI) and real effective exchange rate (REER) variables in the model as additional predictors enhance the robustness in forecasting. The study suggests that the multifaceted and interlinked dimensions of competitiveness are crucial to further enhancement in competitiveness and to ensure the even spread of growth and development in the partnership.

Keywords: BRICS; Brazil; Russia; India; China; and South Africa; ELG model; competitiveness; panel regression; foreign direct investments. (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:ids:ijtrgm:v:14:y:2021:i:3:p:304-324

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