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BRIC national export performance: a portfolio approach

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  • Raul Gouvea
  • Raj V. Mahto
  • M.J.R. Montoya

Abstract

The BRIC countries (Brazil, Russia, India, and China) have expanded their export sector considerably in the last two decades. Their export portfolios range from commodities to knowledge-intensive products. In this paper, we use two portfolio approaches (Markowitz and single index models) to assess export diversification strategies. The results indicate that China’s export portfolio dominates the portfolios of Brazil, India, and Russia. China has a highly diversified export profile and also expresses the highest efficiency amongst the BRIC countries. Thus, we make several conclusions about the impact of BRIC countries on the global political economy: (1) export portfolios can be used as a measure of geo-political influence, (2) BRIC countries’ export performance approximates the economic behavior of a global ‘middle class,’ and (3) China’s dominance among the BRIC countries, particularly its diverse profile, largely represents the global economy. China’s portfolio beta for export is closest to the global portfolio beta.

Suggested Citation

  • Raul Gouvea & Raj V. Mahto & M.J.R. Montoya, 2013. "BRIC national export performance: a portfolio approach," Journal of Chinese Economic and Business Studies, Taylor & Francis Journals, vol. 11(1), pages 47-58, February.
    • Handle: RePEc:taf:jocebs:v:11:y:2013:i:1:p:47-58
    DOI: 10.1080/14765284.2012.755299
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    1. Julian di Giovanni & Andrei A. Levchenko, 2012. "The Risk Content of Exports: A Portfolio View of International Trade," NBER International Seminar on Macroeconomics, University of Chicago Press, vol. 8(1), pages 97-151.
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    Cited by:

    1. Flavio Vilela Vieira & Cleomar Gomes Da Silva, 2018. "Brics Export Performance: An Ardl Bounds Testing Empirical Investigation," Anais do XLIV Encontro Nacional de Economia [Proceedings of the 44th Brazilian Economics Meeting] 101, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    2. Sharma, Piyush & Cheng, Louis T.W. & Leung, T.Y., 2020. "Impact of political connections on Chinese export firms' performance – Lessons for other emerging markets," Journal of Business Research, Elsevier, vol. 106(C), pages 24-34.
    3. 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.
    4. Adrino Mazenda & Tyanai Masiya & Norman Nhede, 2018. "South Africa-BRIC-SADC Trade Alliances and the South African Economy," International Studies, , vol. 55(1), pages 61-74, January.

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