The role of the New Development Bank on Economic growth and Development in the BRICS states

Mixo Sweetness Sithole and Nyiko Worship Hlongwane

MPRA Paper from University Library of Munich, Germany

Abstract: The purpose of this study is to analyse how the BRICS countries' New Development Bank (NDB) promotes economic growth and development. This study aims to evaluate the influence of the NDB on crucial measures of economic growth and development in the BRICS nations by a thorough review of the bank's operations, financing mechanisms, and project portfolios. The study utilized the panel data from 1997-2022 using variables such as economic growth, employment, and trade. The study deployed a PMG estimator and Granger causality model. The results revealed positive bidirectional statistically significant relationship between broad money and economic growth in BRICS. The study recommended that NDB should promote growth of broad money as it boosts economic growth.

Keywords: New Development Bank; Economic growth; BRICS; Pooled Mean Group estimator; Granger causality. (search for similar items in EconPapers)
JEL-codes: C0 C3 (search for similar items in EconPapers)
Date: 2023-07-07, Revised 2024-01-26
New Economics Papers: this item is included in nep-cis, nep-fdg and nep-gro
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:119958

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