The integration and investment potential of BRICS

Sidorova E.A. ()

World of economics and management / Vestnik NSU. Series: Social and Economics Sciences, 2016, vol. 16, issue 2, 111-122

Abstract: In the modern global economy international integration associations are full subjects of it. However, the changing world is changing the integration inquiry: there is the transformation of the integration processes because of globalization. A key principle of the integration process is to accelerate the economic development of the system and its individual composes through the implementation of the integration potential. In this regard, the article researches the integration potential of BRICS (an informal association consists of Brazil, Russia, India, China and South Africa) as a signifcant subject of the world economy, including it analyzes trade fows of these countries using the index method. Moreover, it researches the investment potential of BRICS as the part of the integration potential. Finally, it focuses on the association institutionalization in the monetary sphere. Research has shown that the integration potential of BRICS opens new prospects for cooperation and development of the member countries. At the same time the creation of new fnancial institutions in the framework of the association (in particular, the New Development Bank and the Contingent Reserve Arrangement) can help to strengthen the cooperation among the countries and to promote more representative global governance.

Keywords: international integration associations; the integration potential of BRICS; coeffcient of intensity of bilateral trade fows between the two countries; regional orientation index; the investment potential of BRICS; the BRICS institutionalization processes; the New Development Bank; the Contingent Reserve Arrangement (search for similar items in EconPapers)
JEL-codes: F15 (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:nos:wjflnh:2016_2_10e

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