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The integration and investment potential of BRICS

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  • Sidorova E.A.

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.

Suggested Citation

  • Sidorova E.A., 2016. "The integration and investment potential of BRICS," World of economics and management / Vestnik NSU. Series: Social and Economics Sciences, Socionet, vol. 16(2), pages 111-122.
    • Handle: RePEc:nos:wjflnh:2016_2_10e
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    2. Stephany Griffith-Jones, 2014. "A Brics Development Bank: A Dream Coming True?," UNCTAD Discussion Papers 215, United Nations Conference on Trade and Development.
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