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Testing the relationships between globalization, regionalization and the regional hubness of the BRICs

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  • Chen, Lurong
  • De Lombaerde, Philippe

Abstract

The BRIC economies are expected to further increase their share and importance in the world economy. Whereas their growth strategies and their integration in the world production system has been widely analyzed from different angles, it seems that there has been less attention paid to how integration in the global economy (and openness) is related to integration in the regional economy. Firstly, we will therefore propose a series of indicators to better assess the interdependence between the BRIC economies and the economies of their respective ‘regions’, be it institutionalized or de facto regions. Secondly, we will present a series of statistical tests to evaluate the relationship between globalization and regionalization. This should further clarify the implications of a scenario of sustained growth and globalization in the BRICs for the patterns and levels of production and trade in their regions of influence. Among the findings of this article, model estimations suggest that the relative globalization of the BRICs is related to more global sourcing by the BRICs, enhanced regional competitiveness of the BRICs, and more asymmetry and trade dependence from the perspective of the regional trade partners.

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  • Chen, Lurong & De Lombaerde, Philippe, 2014. "Testing the relationships between globalization, regionalization and the regional hubness of the BRICs," Journal of Policy Modeling, Elsevier, vol. 36(S1), pages 111-131.
    • Handle: RePEc:eee:jpolmo:v:36:y:2014:i:s1:p:s111-s131
    DOI: 10.1016/j.jpolmod.2013.10.011
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    Cited by:

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    2. Matthew Smith & Yasaman Sarabi, 2021. "UK trading patterns within and between regions in the automotive sector—A network analysis," The World Economy, Wiley Blackwell, vol. 44(2), pages 510-529, February.
    3. Marília Bassetti Marcato, 2023. "Regional Dynamics in Global Production Sharing: Evidence from “Factory South America”," The European Journal of Development Research, Palgrave Macmillan;European Association of Development Research and Training Institutes (EADI), vol. 35(5), pages 1173-1196, October.
    4. Azevedo, Vitor G. & Sartori, Simone & Campos, Lucila M.S., 2018. "CO2 emissions: A quantitative analysis among the BRICS nations," Renewable and Sustainable Energy Reviews, Elsevier, vol. 81(P1), pages 107-115.
    5. Flavio Vilela Vieira & Cleomar Gomes da Silva, 2021. "What drives export performance in the BRICS countries? An ARDL investigation," Economics Bulletin, AccessEcon, vol. 41(2), pages 686-695.
    6. Mikael Wigell, 2016. "Conceptualizing regional powers’ geoeconomic strategies: neo-imperialism, neo-mercantilism, hegemony, and liberal institutionalism," Asia Europe Journal, Springer, vol. 14(2), pages 135-151, June.
    7. Garzón, Jorge F., 2015. "Multipolarity and the Future of Regionalism: Latin America and Beyond," GIGA Working Papers 264, GIGA German Institute of Global and Area Studies.
    8. Economic Research Institute for ASEAN and East Asia (ERIA), 2020. "COVID-19 and Southeast and East Asian Economic Integration: Understanding the Consequences for the Future," Working Papers PB-2020-01, Economic Research Institute for ASEAN and East Asia (ERIA).
    9. Singh, Tarlok, 2023. "The sustainability of current account in the BRICS countries depends on economic policies’ support to structural adaptation," Journal of Policy Modeling, Elsevier, vol. 45(3), pages 570-591.
    10. Zhou, Jing & Latorre, María C., 2021. "FDI in China and global production networks: Assessing the role of and impact on big world players," Journal of Policy Modeling, Elsevier, vol. 43(6), pages 1225-1240.
    11. Jiang-Long Liu & Chao-Qun Ma & Yi-Shuai Ren & Xin-Wei Zhao, 2020. "Do Real Output and Renewable Energy Consumption Affect CO 2 Emissions? Evidence for Selected BRICS Countries," Energies, MDPI, vol. 13(4), pages 1-18, February.

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