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Yilmaz, Emre, and Shakir Husain. "Hitting a BRIC Wall : MIST countries becoming the new BRICs?" Thesis, Södertörns högskola, Institutionen för samhällsvetenskaper, 2012. http://urn.kb.se/resolve?urn=urn:nbn:se:sh:diva-18374.
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The purpose of this study is to examine a completely new phenomenon called the MIST, by two portfolios: the Goldman Sachs Next 11 equity fund, and the Goldman Sachs BRIC fund, in order to establish whether or not the MIST countries are a better investment decision in terms of risk, return and growth. Furthermore, the study examines in which form these emerging markets lies in terms of market efficiency, and if the random walk theory is present. The opportunities and challenges for Mexico, Indonesia, South Korea and Turkey are also brought upon to determine whether these countries have the potential to exhibit the same success as the BRIC countries did for a decade. Since the growth of the BRIC countries are slowing down, Jim O’Neill, the same founder of the term BRIC, coined the nations MIST. The BRIC countries are facing several difficulties and have led investors to draw out from these countries stocks. Investors that were pouring in money to the BRIC countries during the period 2001-2009, have from 2011, withdrawn 15 billion dollars from the BRIC stocks. Mexico, Indonesia, South Korea and Turkey. Derived from the next eleven countries, these countries have a major effect on the global economy due to their economical and political circumstances. For many investors, the MIST countries that are growing faster than the BRIC are regarded to be the new biggest emerging markets. Investing in BRIC funds are stated to be a disaster today, while on the other hand, the MIST countries are growing and outpacing the BRIC fund. The methodology used was to compare two different portfolios, Goldman Sachs N-11 equity fund in the period 2011-2013 against the Goldman Sachs BRIC fund in two different periods, 2011-2013 and 2006-2008 with S&P 500 as the market index. In addition, a hypothesis test was carried out for this period to observe whether or not to reject the null hypothesis. The results of this study shows that the null hypothesis was rejected and that the N-11 equity fund is a better investment decision, in terms of risk, return and growth today. These emerging markets are under the weak form market efficiency and the random walk theory is present in the N-11 equity fund. This makes the authors’ results more of a speculation than a definite conclusion about the future, as one cannot "beat the market".
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Kotze, Klaus. "BRICS: strategies of persuasion." Doctoral thesis, Faculty of Law, 2018. http://hdl.handle.net/11427/30014.
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This dissertation explores the strategic communications of the BRICS (Brazil, Russia, India, China and South Africa) intergovernmental platform. BRICS is a recent addition to the growing array of international organisations. Though BRICS consists of significant emerging and re-emerging states, it remains poorly perceived and obscure. Previous analyses that have examined BRICS as an aggregation of its member states or distinguished it simply as a slogan designed by Goldman Sachs have failed to discern it for the rhetorical, strategic entity that it is. This dissertation focuses on BRICS’ essence and intent, its strategic communications. It analyses BRICS’ narrative and scenario, examining its rhetorical appeals, its strategies and tactics of persuasion. The study employs a critical rhetorical analysis to explore publically available primary documentation emanating from high-level BRICS meetings. Three analytical chapters assess this corpus, conceptually distinguished as programmatic (Memoranda of Understanding, agreements and treaties), organic (summit Declarations) and opportunistic (Statements) documents. This analysis expediently takes from disciplines and schools of thought to qualitatively and inductively assess strategic style and agency. It applies theoretical and conceptual tools to examine claims that emerge from the texts. BRICS’ documents present organisational strategy and articulate its appeals. These are rhetorically explored to discern BRICS, per se. BRICS’ rhetoric motions towards its aims. Its strategic means, ways and ends are closely assessed. The dissertation finds that BRICS is an informal intergovernmental regime towards engendering reform inside of the normative international order. Its claims indirectly shape global governance according to its interests. BRICS is a process-driven advocacy mechanism that brings states together as nodes in a state-centric intergovernmental style. It rhetorically steers towards its aspired outcomes without taking considerable action. It does so to avoid responsibility. It rhetorically performs the principles and norms of the legitimate international order under the United Nations, in order to substantiate its form of multilateralism; to actualise reform while maintaining structure. By employing its principles and norms, BRICS embodies and therefore territorialises the multilateral order. BRICS’ strategic communications develop an alternative narrative towards steering international cooperation and exchange. Its articulation of the international order confronts dictated hegemonic conceptions, asserting that no unilateral interpretation holds an absolute truth. Sovereign states are not circumscribed by other states but only by legitimate international law and order. In doing so BRICS pursues international recognition for its member states, disrupts what it perceives to be hegemonic inertia and redefines global governance. BRICS illustrates a significant modality to assess the contemporary international order and the recent developments in global power. Its indirect form, a procedural and fluid platform for extra-Western sovereign states to pursue influence and execute wills, proposes the evolution of international power in the 21st century. BRICS actively employs a hybrid (both-and) strategy to lead toward a reformed global order based on a greater balance of powers (multipolarity). The development of BRICS and BRICS Plus presents compelling cases for further, critical studies.
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Wilson, Peter Antony. "'BRICS' and international tax law." Thesis, Queen Mary, University of London, 2017. http://qmro.qmul.ac.uk/xmlui/handle/123456789/24872.
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This Thesis studies a new and evolving area of international tax law, namely, the international tax law of Brazil, Russia, India, China and South Africa, the 'BRICS', and concludes that the thrust of their divergences from the developed world's international tax law evolves from the necessity to counter the significant illicit outflow of funds while not disturbing inbound FDI or, in recent times, their outbound FDI while ensuring profits are taxed where created. The design of the divergences reflects more on the initial limited manpower capacity of their emerging tax authorities to deal with the complex international tax law issues and politically encouraged policy cooperation amongst the BRICS than it does of actual tax authority cooperation although not wishing to underestimate the importance of that cooperation. Relevant to my conclusions are the published positions of international governance organisations and financing institutions, BRICS tax administrations, scholars and precedent, and I have used that information, both for and against, to arrive at the most rational conclusions. While economic theories may be relevant, they are not relevant to this study. My research questions include what is the basis of the BRICS approach to core international tax law, in what way has their approach to defining evasion and avoidance been driven by the magnitude of profits shifted offshore and particularly to tax havens and whether their divergences from the developed world's approach to countering thin capitalisation, transfer pricing and controlled foreign companies have been fashioned by the necessity for countering the elevated level of abuse. My conclusions also reflect my research on whether the divergences have been designed to counter treaty abuse affiliated with the transactions implemented by MNEs intending to shift the profits offshore or the accumulation of passive income in tax havens and, on whether were the BRICS to localise the BEPS recommendations, would their capacity to counter this abuse be improved. My research also considers whether resolving the disputation arising from the increasing level of tax authority cross border audits and investigations can be facilitated through the adoption of alternative dispute resolution procedures. I also study whether the BRICS' response to the world's growing information exchanging architecture reflects their elevated necessity for gathering information to be used to stem illicit flows, countering international evasion and avoidance and ensuring profits are taxed where created. I conclude the study with recommendations for the BRICS Heads of Revenue to include in a Communique for updating their tax law and procedures which counter the abuse and assist in dispute resolution.
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Farias, Carlos Eduardo dos Santos. "BRICS : emergência dos arranjos informais." Universidade Católica de Santos, 2015. http://biblioteca.unisantos.br:8181/handle/tede/2422.
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This research paper proposes an analysis of the emergence of informal arrangements as a new form of multilateralism, pointing out the historical evolution of international organizations as institutions representing multilateralism in practice. The crisis in classical multilateralism is unequivocal, for the world has been conferring a new shape to international relationships among its actors: less bureaucratic, less institutionalized, more efficient and effective. Informal arrangements bring in themselves cooperation as element of order, leaving the idea of ¿power for power¿ behind, in which the rich exploited the poor in compliance with military forces. BRICS is an example of a successful informal arrangement, that puts together such different countries with an only purpose in mind: development of participants based on the idea of cooperation. Times have changed, and international relationships must now adapt to this new world order.
O presente trabalho propõe a análise do surgimento dos arranjos informais como uma nova forma de multilateralismo, destacando a evolução histórica das organizações internacionais, como instituições que representam o multilateralismo na prática. A crise do multilateralismo clássico é evidente, pois o mundo está formatando uma nova roupagem para as relações internacionais de seus atores, menos burocrática, menos institucionalizada, mais eficiente e eficaz. Os arranjos informais trazem consigo a cooperação como elemento de ordem, deixando para traz a ideia do poder pelo poder, onde os ricos exploravam os pobres, através da imposição da força militar. O BRICS é o exemplo de arranjo informal que vem dando certo, e que fez juntar países tão diferentes, em prol de um único propósito, o desenvolvimento de seus integrantes, baseado na ideia de cooperação. Os tempos mudaram e as relações internacionais estão sendo obrigadas a se moldarem a esta nova ordem mundial.
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Kurucová, Ivana. "Juhoafrická republika medzi krajinami BRICS." Master's thesis, Vysoká škola ekonomická v Praze, 2011. http://www.nusl.cz/ntk/nusl-201634.
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This thesis deals with motives of the South Africa's inclusion to BRIC countries and examines the impact of this inclusion on South Africa. It explores the question whether South Africa "deserves" the inclusion to BRIC countries and what characteristics connect it with these economies. The thesis also analyzes the BRICS bloc, the current situation in these economies, their cooperation and performing on the global scene.
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Santos, Renato Xavier [UNESP]. "BRICS e as contingências do discurso." Universidade Estadual Paulista (UNESP), 2017. http://hdl.handle.net/11449/150620.
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Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)
O objetivo do trabalho é analisar o papel do discurso na formação do BRICS. A hipótese é que os discursos possibilitaram a aproximação entre os cinco países e forjaram uma identidade contingencial entre Brasil, Rússia, Índia, China e, posteriormente, África do Sul. Para testar a hipótese, será utilizado o referencial teórico pós-estruturalista de Laclau e Mouffe (1985), bem como o dos teóricos das Relações Internacionais que trabalham com identidade e discurso nos estudos de política externa. Como metodologia, foram eleitos 22 discursos proferidos pelos líderes dos países BRICS no âmbito da Assembleia Geral das Nações Unidas, com um recorte temporal de 2002 a 2009. Além disso, será analisado o documento resultante da I Reunião de Cúpula do BRIC, em 2009. Com isso, pretende-se testar alguns elementos discursivos presentes no BRICS para demonstrar a formação do arranjo a partir de uma identidade contingencial. Os elementos discursivos a serem investigados são os seguintes: (1) contingência do discurso; (2) identidade relacional; (3) pratica articulatória; (4) discurso hegemônico. O discurso é um complexo de elementos dados a partir de um conjunto de relações. No âmbito das relações internacionais, as interações acontecem em diversos campos da política. Particularmente, a Organização das Nações Unidas é uma importante arena de embate político, mas também de cooperação entre as nações. Por aglutinar diversas demandas específicas, a Organização das Nações Unidas é um dos principais espaços de interação social, no qual os Estados e outros agentes sociais procuram representar, significar e ressignificar as relações sociais. As relações diplomáticas também são capazes de criar novas percepções sobre o mundo. Dessas interações, novas identidades são construídas ou reconstruídas e interpretadas à luz da linguagem discursiva.
The objective of this work is to analyze the role of discourse in the formation of BRICS. The hypothesis is that the discourses made possible the approximation between the five countries and forged a contingent identity between Brazil, Russia, India, China and South Africa. To test the hypothesis, we will use the post-structuralist theoretical framework of Laclau and Mouffe (1985), as well as that of International Relations theorists who work with identity and discourse in foreign policy studies. In terms of methodology, it will be analyzed 22 speeches delivered by the leaders of BRICS countries at General Assembly of the United Nations from 2002 to 2009. In addition, the document resulting from the I BRIC Summit, in 2009, will be studied. Therefore, we intend to test some discursive elements present in the BRICS to demonstrate the formation of the arrangement from a contingencial identity. The discursive elements to be investigated are the following: (1) contingency of discourse; 2) relational identity; (3) articulatory practice; (4) hegemonic discourse. Discourse is a complex of elements given from a set of relations. In the context of international relations, interactions take place in various fields of politics. In particular, the United Nations is an important arena of political struggle, but also of cooperation among nations. Because it brings together several specific demands, the United Nations is one of the main spaces of social interaction, in which States and other social agents seek to represent, signify and re-signify social relations. Diplomatic relations are also capable of creating new insights about the world. From these interactions, new identities are constructed or reconstructed and interpreted in the light of discursive language.
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Santos, Renato Xavier. "BRICS e as contingências do discurso /." Marília, 2017. http://hdl.handle.net/11449/150620.
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Orientador: Suzeley Kalil MathiasCo-orientador: Carlos Eduardo Ferreira de Carvalho
Banca: Marco Aurélio Nogueira
Banca: Ramon Garcia Fernandez
O Programa de Pós-Graduação em Relações Internacionais é instituído em parceria com a Unesp/Unicamp/PUC-SP, em projeto subsidiado pela CAPES, intitulado "Programa San Tiago Dantas"
Resumo: O objetivo do trabalho é analisar o papel do discurso na formação do BRICS. A hipótese é que os discursos possibilitaram a aproximação entre os cinco países e forjaram uma identidade contingencial entre Brasil, Rússia, Índia, China e, posteriormente, África do Sul. Para testar a hipótese, será utilizado o referencial teórico pós-estruturalista de Laclau e Mouffe (1985), bem como o dos teóricos das Relações Internacionais que trabalham com identidade e discurso nos estudos de política externa. Como metodologia, foram eleitos 22 discursos proferidos pelos líderes dos países BRICS no âmbito da Assembleia Geral das Nações Unidas, com um recorte temporal de 2002 a 2009. Além disso, será analisado o documento resultante da I Reunião de Cúpula do BRIC, em 2009. Com isso, pretende-se testar alguns elementos discursivos presentes no BRICS para demonstrar a formação do arranjo a partir de uma identidade contingencial. Os elementos discursivos a serem investigados são os seguintes: (1) contingência do discurso; (2) identidade relacional; (3) pratica articulatória; (4) discurso hegemônico. O discurso é um complexo de elementos dados a partir de um conjunto de relações. No âmbito das relações internacionais, as interações acontecem em diversos campos da política. Particularmente, a Organização das Nações Unidas é uma importante arena de embate político, mas também de cooperação entre as nações. Por aglutinar diversas demandas específicas, a Organização das Nações Unidas é um dos principai... (Resumo completo, clicar acesso eletrônico abaixo)
Abstract: The objective of this work is to analyze the role of discourse in the formation of BRICS. The hypothesis is that the discourses made possible the approximation between the five countries and forged a contingent identity between Brazil, Russia, India, China and South Africa. To test the hypothesis, we will use the post-structuralist theoretical framework of Laclau and Mouffe (1985), as well as that of International Relations theorists who work with identity and discourse in foreign policy studies. In terms of methodology, it will be analyzed 22 speeches delivered by the leaders of BRICS countries at General Assembly of the United Nations from 2002 to 2009. In addition, the document resulting from the I BRIC Summit, in 2009, will be studied. Therefore, we intend to test some discursive elements present in the BRICS to demonstrate the formation of the arrangement from a contingencial identity. The discursive elements to be investigated are the following: (1) contingency of discourse; 2) relational identity; (3) articulatory practice; (4) hegemonic discourse. Discourse is a complex of elements given from a set of relations. In the context of international relations, interactions take place in various fields of politics. In particular, the United Nations is an important arena of political struggle, but also of cooperation among nations. Because it brings together several specific demands, the United Nations is one of the main spaces of social interaction, in which States and other... (Complete abstract click electronic access below)
Mestre
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Abbas, Haitham, and Edon Saliju. "FDI Determinants : The case of BRICS." Thesis, Internationella Handelshögskolan, Jönköping University, IHH, Nationalekonomi, 2020. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-50430.
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One of the major factors that affect economic growth is FDI - Forgein Direct Investment. BRICS is a newly formed trade bloc that includes 5 of the largest, most heavily populated, and most emerging economies in the world, their economies share various characteristics, yet they also have various differences. The purpose of the thesis is to find the determinants of FDI in this trade bloc. Those determinants were specifically chosen based on multiple accredited previous literature. In this thesis a panel data regression is performed for these 5 partners with data ranging from 1995 to 2018. The results of the thesis were both predicted and surprising, as two determinants were in accordance with the past literature, however the other two determinants had other results, both of these variables had opposite signs compared to their predicted signs that were expected from the chosen previous literature. Our research tries to answer the question of how do these determinants affect FDI inflows, in order for countries to make strategies to attract it.
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Kaucká, Kristýna. "Česká ekonomická diplomacie v zemích BRICS." Master's thesis, Vysoká škola ekonomická v Praze, 2012. http://www.nusl.cz/ntk/nusl-142086.
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The first chapter of my thesis decribes definitions, tools and structure of economic diplomacy. History of economic diplomacy in the Czech Republic within last 20 years is also mentioned. My aim si to decribe BRICS countries as a subject of an essential interest for czech economic diplomacy.
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Mišendová, Zuzana. "The economic position of China within the group "BRICS"." Master's thesis, Vysoká škola ekonomická v Praze, 2011. http://www.nusl.cz/ntk/nusl-165373.
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The aim of the thesis is to discuss the position of China within the "BRICS" economies (Brazil, Russia, India, China and South Africa). China is the strongest member of the group, which is shortly introduced from the economic point of view in comparison to each other. China managed to keep high paces og economic growth even in times of global economic downturn caused by the global financial crisis. Based on it's economic strength, China gains more and more influence in the global economy and international affairs. China is also a dominant member of the grouping. The thesis analyses the position of China within BRICS and in the broader context of the global economy at the same time. It contains a complex analysis of the economic reforms and structural changes, which led to the shift of China's position towards becoming a world economic power. It also contains an analysis of the impacts of the world crises on the group and compares, how the members dealt with it. It also tries to answer the question if the crisis could cause a change in the existing global economic order in favour of China.
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Lima, Ana Paula Alves de. "Dois estudos sobre as economias dos BRICS." reponame:Repositório Institucional da UnB, 2012. http://repositorio.unb.br/handle/10482/13885.
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Dissertação (mestrado)—Universidade de Brasília, Faculdade de Economia, Administração, Contabilidade e Ciência da Informação e Documentação, Departamento de Economia, 2012.Submitted by Alaíde Gonçalves dos Santos (alaide@unb.br) on 2013-08-06T10:16:21Z No. of bitstreams: 1 2012_AnaPaulaAlvesdeLima.pdf: 1501781 bytes, checksum: 5ce2255f1e4230d585f3a2eb4a5773a3 (MD5)
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Esta dissertação está dividida em dois estudos. Primeiramente foi feita uma análise descritiva de algumas características econômicas e sociais dos países que compõem os BRICS (Brasil, Rússia, Índia, China e África do Sul). O objetivo desta primeira análise foi mostrar a importância que esse grupo vem alcançando a nível mundial, ressaltando suas características similares e desafios comuns a perseguir. Na segunda parte do trabalho, buscou-se analisar a taxa de câmbio, variável de grande importância na estratégia de crescimento desses países. Como suporte a essa análise utilizou-se a abordagem monetária de determinação da taxa de câmbio com preços flexíveis. A constatação empírica é de que os sinais dos coeficientes estimados das variáveis determinantes da taxa de câmbio estão de acordo com o que a teoria sugere e são estatisticamente significantes quando se considera o grupo como um todo. Visto que esta hipótese é muito restritiva, foi feita uma nova estimativa considerando tanto os interceptos como os coeficientes específicos para cada país. Assim, foi possível observar que, para o caso dos BRICS, as variáveis reais explicaram mais as variações na taxa de câmbio estimada que as variáveis monetárias. Isto quer dizer que o modelo monetário com preços flexíveis não é válido em sua totalidade para o caso em questão, mas também não pode ser totalmente refutado. _______________________________________________________________________________________ ABSTRACT
The present work is divided between two studies. In the first part, we do a descriptive analysis of some economical and social caracteristics of BRICS countries (Brazil, Russia, India, China and South Africa). The goal of this first analysis is to show the importance that this group has been acheiving in a global scale, focusing in their similar caracteristics and common challenges to be pursued. In the second part, we analise the exchange rates, a variable that plays a key role in BRICS`s growth strategy. As a support to this analysis a monetary approach method to the determination of exchange rates with flexible prices is used. The empirical findings are that the signals of the estimated coeficients for the determining variables to the exchange rate are accordingly to the theory and are statisticaly significants when the group is taken as a hole. Seen as a very restrictive hipotesis, a new estimative is done considering the intercepts and the specific coeficients for each country separately. Under this new view, it is possible to observe that, for the BRICS, the real variables explain more the variation in the estimated exchange rates than the monetary variables. This means that the monetary model with flexible prices is not valid as a hole to this case, but can`t be totally refuted as well.
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Beleščák, Dušan. "Ambície, (ne)úspechy a perspektívy krajín BRICS." Master's thesis, Vysoká škola ekonomická v Praze, 2013. http://www.nusl.cz/ntk/nusl-201933.
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The primary objective of this work is to comprehensively evaluate the capacity of the BRICS to achieve its objectives by mutual cooperation, based on the confrontation of the declared aims of the group itself during its annual summits with real achievements. The secondary aim of the study is to estimate the direction in which the cooperation between the BRICS will be heading in the future and to define possible challenges threatening its success. The thesis is divided into three parts. In the first part the author describes the genesis of the term "BRICS", and then continues by describing the essential characteristics of individual BRICS countries and their mutual similarities and differences. In the second, main part, the author evaluates the extent of fulfillment of individual goals set during the BRICS summits, taking place annually since 2009. The author evaluates seven selected key goals by analyzing the reasons for their implementation, proposed methods of implementation, the steps taken for their fulfillment, the effectiveness of these steps and the current status. Subsequently, in a similar manner author evaluates several sub-targets. In the third part, the author presents the expectations for the forthcoming BRICS summit, outlines possible directions that will be taken by BRICS in the future and identifies the weaknesses threatening their successful cooperation.
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Almeida, Miguel Barata Garcia. "A ascenção dos BRICS: fim do momento unipolar?" Master's thesis, Faculdade de Ciências Sociais e Humanas, Universidade Nova de Lisboa, 2011. http://hdl.handle.net/10362/7163.
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Dissertação de Mestrado em Relações InternacionaisA ordem internacional atual é substancialmente distinta da ordem que surgiu com o colapso da União Soviética, em 1991. Se, por um lado, deixou de ser totalmente correto classificar a ordem atual como exclusivamente unipolar, por outro lado é igualmente prematuro classificá-la como multipolar. Ora, os BRICS – enquanto maiores representantes do protagonismo das potências emergentes – constituem um dos principais fatores que contribuíram para esta modificação, em especial durante a década de 2000 a 2010. A razão fundamental já não é o desenvolvimento militar ou a ameaça nuclear, mas sobretudo a força da economia e da geoeconomia. O colossal crescimento económico está, portanto, na base de todo o protagonismo dos BRICS. De um modo geral, os BRICS são representativos de seis perspetivas fundamentais: (1) Surgiram a partir de um conceito criado pelo mundo económico e financeiro (a Goldman Sachs), o que prova que os mercados, a geoeconomia e, cada vez mais, a geofinança influenciam crescentemente a geopolítica dos Estados. (2) Representam o desenvolvimento crescente do regionalismo enquanto característica marcante da ordem internacional atual. A entrada da África do Sul é exemplo disto mesmo. (3) Não atuam enquanto um bloco coeso e com uma estratégia comum, mas antes baseados em acordos esporádicos e objetivos muito concretos, como a alteração de regras em organizações como o Banco Mundial, o FMI e a ONU, ou a defesa de um mundo multipolar. (4) Possuem graves constrangimentos regionais, desde Taiwan, passando por Caxemira, até à Tchetchénia, que constituem uma desvantagem considerável em relação aos EUA. (5) São essencialmente fortes em hard power (sobretudo na capacidade económica e na massa crítica), mas ainda muito fracos em soft power, justamente a vertente que versa sobre o desenvolvimento social, os direitos humanos, o regime político e a capacidade de atrair e persuadir os Estados e a opinião pública mundial a seguir o seu modelo de organização social e cultural. (6) E, por fim, não são ainda sociedades pós-industriais, mas os dados indicam que, assim que atingirem este patamar, têm todas as potencialidades para atingir o nível dos EUA. Em suma, a superpotência continua a ser apenas uma – os EUA – mas já não se trata do mesmo conceito de superpotência que surgiu no final da Guerra Fria. A presente dissertação avalia o poder atual dos EUA – e a sua evolução ao longo da última década – face ao poder crescente dos BRICS, tanto na vertente de hard power como de soft power.
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Freire, José Nantala Bádue. "BRICs: análise comparativa da arbitragem comercial internacional institucional." Universidade de São Paulo, 2014. http://www.teses.usp.br/teses/disponiveis/2/2135/tde-21012015-081650/.
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O presente trabalho tem como objetivo estudar o tratamento dado à arbitragem comercial institucional internacional pelas leis de Brasil, Rússia, Índia e China. A aproximação entre estes países, deflagrada principalmente após a criação do grupo BRIC, culminou num aumento considerável das suas relações comerciais. O aumento das relações pressupõe, também, um aumento na possibilidade da ocorrência de conflitos. Pela arbitragem ser, reconhecidamente, o meio de solução de controvérsias mais adequado e mais utilizado em litígios internacionais, a informação sobre como este instituto é regulado pelos sistemas jurídicos dos BRICs pode ser útil àqueles que tenham interesse em atuar nos mercados destes países. Utilizando-se dos postulados do Direito Comparado, o presente trabalho compara o padrão internacional de regulação da arbitragem comercial, consubstanciado nos textos da Lei Modelo da UNCITRAL e na Convenção de Nova Iorque de 1958, com as leis de arbitragem instituídas em cada um dos BRICs, para verificar eventuais similaridades e diferenças relevantes. A metodologia é a pesquisa comparada, em que se comparam as leis, dotrinas e decisões judiciais relevantes sobre o tema, em cada um dos sistemas jurídicos estudados. Os resultados apontam para o fato de que o padrão internacional é, em linhas gerais, seguido por todos os BRICs, embora os sistemas chinês e russo sejam menos liberais, no que diz respeito à influência estatal na efetividade da arbitragem comercial internacional. Por fim, sugere-se uma maior aproximação entre os sistemas jurídicos destes quatro países, mas que os próprios também fomentem, nos foros multilaterais, que a comunidade internacional discuta mais o tema e promova, se necessário, eventuais reformas ao padrão adotado atualmente, para que sua aceitação e implementação sejam amplas entre as nações.This work studies the treatment given by Brazilian, Russian, Indian and Chinese laws to international commercial arbitration. Mainly triggered after the creation of the BRICs, these countries proximity ended up by significantly increasing their commercial relations. This increase in commercial relations also implies an increase in the possibility of conflicts. Because arbitration is recognized as the most suitable and used means of conflict resolution in international litigations, the information on how it is regulated by the BRICs legal systems may be useful to those interested in operating in these countries markets. By using the fundamental principles of comparative jurisprudence, this work compares the international standard of regulation of commercial arbitration, set forth in UNICITRAL Model Law and in the 1958 New York Convention, to arbitration laws established in each country composing the BRICs, aiming at identifying any relevant similarities and differences. The methodology used is compared research, in which laws, relevant precedents and jurisprudence are compared within the legal systems studied in this work. The results show that the international standard is, at least in general, followed by all BRICs, although Chinese and Russian systems are less liberal, concerning public influence on the effectiveness of international commercial arbitration. Finally, it is presented a suggestion to enclose the regulation of international commercial arbitration among those four countries, but also indicating that this movement shall be made within the multilateral system, promoting the discussion with tha international community, in order to review, if necessary, the legal standard in force, aiming it´s major acceptance and implementation by other nations worldwide.
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Herclíková, Marcela. "Analýza ekonomického vývoje a následná komparace zemí BRICS." Master's thesis, Vysoká škola ekonomická v Praze, 2013. http://www.nusl.cz/ntk/nusl-196544.
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The diploma thesis is focused on the analyses of the Economic development and the subsequent comparison of the BRICS countries. The thesis is especially focused on Brazil, Russia, India, China and South Africa. The first chapter is dedicated to characterization of the BRICS countries. The second chapter deals with the basic characteristics of the BRICS countries. Next chapters are focused on PEST analysis of these concrete countries. The third chapter deals with political and legal environment. Moreover, the fourth chapter focuses on the economic analysis of these countries. The aim of the fifth chapter is an analysis of technological development of the BRICS countries and their mutual comparison. Finally, last chapter is focused on the evaluation of concrete markets using SWOT analysis.
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Sopkin, Artem. "Cooperation of Russia and BRICs countries: Russian opportunities." Master's thesis, Vysoká škola ekonomická v Praze, 2015. http://www.nusl.cz/ntk/nusl-207067.
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Internationalization of energy resources has led to a problem of the smooth functioning of the global energy industry , and now this problem has a greater influence on the entire system of international economic relations. One of the key instruments of the country under such circumstances becomes a foreign policy aimed at providing leadership and competitiveness in the world. The Russian Federation has a unique geographical and strategic position in Eurasia , the largest reserves of primary energy resources on the planet, has a well developed industrial infrastructure and a significant intellectual potential .
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Landim, Alexandre Lacerda. "Competitividade Brasil: uma análise face às nações BRICs." reponame:Repositório Institucional do FGV, 2007. http://hdl.handle.net/10438/8022.
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Este estudo objetiva uma contextualização, no cenário global, do papel representado por quatro grandes países emergentes: Brasil, Rússia, índia China. Ainda que haja muito se discutir respeito da ligação entre estas economias quanto guarda de parceria e quanto de concorrência fato que, recentemente, elas passaram ser tratadas como participantes de um mesmo fenômeno; constituem epicentro de uma mudança que poderá alterar quadro mundial de forças em um futuro não muito distante. conceito de 'competitividade das nações' norteia estudo. análise do desempenho de cada país tem por substrato definição de prosperidade como integração multifatorial em grande escala, envolvendo economia, política, sociedade, meio-ambiente, instituições públicas, performance da classe empresária, capacidade de inovação dos meios científicos cultura. trabalho revelou, especificamente com relação estrutura econômica brasileira, sérias assimetrias que limitam as possibilidades de crescimento do país. Percebe-se que os fundamentos sócio-econômicos políticos apresentam lacunas importantes, que deixam descoberto setores como qualificação profissional, gestão pública e a regulação das atividades produtivas. Não obstante, foi possível ao Brasil alcançar altos níveis de desenvolvimento em várias áreas, partir da atuação de agentes privados que conseguem fazer frente um ambiente de negócios temerário. Neste ponto formaliza-se uma dicotomia entre papel tíbio ou ineficaz dos entes públicos, que não conseguem qualificar gestão institucional, uma notável capacidade empresarial para desenvolver processos sofisticados inovadores gerar resultados positivos. Faz-se urgente reparo desse desequilíbrio, com vistas participação eqüitativa de todos os setores da sociedade no desenvolvimento do potencial competitivo do país.
This study aims to contextualize the role played by the four most important under developed countries in global scenario: Brazil, Rússia, índia and China. Although the topic has been discussed extensively on the possible linkages between these economies in matter of partnership and/or concurrency, recently they have been treated as important participants in the same phenomenon; the epicenter of global scale market changing which might modify the economic hierarchical scheme in not too distant future. The nation competitive concept guides the whole study. The analysis of each country performance underlies on prosperity definition as multifactorial integration in large scale, involving economy, politics, society, natural environment, public institutions, business performance, culture and the scientific capacity of innovation. The study has revealed specifically relating to the Brazilian economic structure, serious asymmetric relation which may restrict the country's growing possibilities. The social and economic aspects present major gaps leaving important sectors without any attention as professional qualification, public management and the regulation of productive activities. On the other hand, due to the private commercial agents, Brazil has reached high leveis of development in several fields, in consistent effort of managing to make business in nonreliable environment. At this point it can be noticed an undeniable dichotomy among the inefficient role played by the public agents who are unable to qualify the institutional management and distinguished business ability to develop sophisticated processes to generate positive results. An urgent repair is requested to bring some balance to this asymmetry, focusing an equitable participation among ali sectors of society in the development of the country's competitive potential.
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Barile, Nicole J. "Rethinking the cultures of the BRICs : an intercultural perspective." Scholarly Commons, 2011. https://scholarlycommons.pacific.edu/uop_etds/774.
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This thesis examines the cultural characteristics of Brazil, Russia, India, and China (the BRIC countries), and the United States, in order to assess what these characteristics mean for U.S. Americans doing business with the BRICs. An in-depth review of the literature, both academic and popular materials, was conducted in order to analyze what is currently being said about the cultures of these countries. Country profiles are created that summarize the existing literature. These profiles are analyzed to see what themes, patterns, differences, and relationships may exist both within the cultures of the BRICs and as compared to the United States. It is discovered that the BRICs are becoming more Western in their values, behaviors, and beliefs, due to increased exposure to Western societies.
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Carvalho, Anderson de Souza. "Decoupling e integração entre os mercados acionários dos BRICS." Universidade de São Paulo, 2013. http://www.teses.usp.br/teses/disponiveis/12/12136/tde-02092013-194049/.
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Com o crescimento do comércio entre os países emergentes na última década, um aumento do fluxo de capitais entre esses países tem sido observado, o que defende a hipótese de integração financeira crescente entre esses países e seus respectivos mercados acionários. Ao mesmo tempo, essa categoria de comércio tem gerado um fator grupo que tem explicado parte da diferença significativa de desempenho econômico entre os países emergentes e os desenvolvidos, conhecida como decoupling. Esta pesquisa pretende investigar se existe um fenômeno de decoupling entre os mercados acionários dos BRICS e dos EUA e se esse fenômeno pode ser explicado pela integração entre os mercados dos BRICS de 2003 a outubro de 2012. Foram analisados modelos em que a variável dependente é a diferença absoluta de desempenho entre um portfólio com índices dos mercados acionários dos BRICS e o índice S&P500 do mercado norte-americano. A variável independente consistiu de proxies para integração entre os mercados acionários dos BRICS. Os modelos foram analisados antes e depois da crise financeira de 2008. Adicionalmente, foram gerados modelos sem a inclusão do mercado chinês para verificar seu impacto na relação entre as variáveis estudadas. Entre os resultados, foram encontradas evidências de: (i) um possível decoupling entre os desempenhos dos mercados dos BRICS e dos EUA, principalmente de 2003 a 2006; (ii) uma influência significativa da integração dos mercados acionários dos BRICS no decoupling identificado; (iii) um impacto relevante do mercado chinês nos fenômenos analisados; e (iv) mudanças importantes nos resultados antes e depois da crise financeira de 2008. Esses resultados suportam a hipótese de que a recente interação entre os mercados emergentes tem produzido um fator grupo que tem gerado desempenhos significativamente diferentes dos mercados desenvolvidos, tendo implicações importantes para a teoria da diversificação internacional de portfólios.With the growth of the trade between emerging countries in the last decade, an increase in the capital flow between these countries has been observed, which defends the hypothesis of rising financial integration between these countries and their respective stock markets. At the same time, this category of trade has generated a group factor that has explained part of the significant difference of economic performance between emerging and developed countries, known as decoupling. This research aims to investigate if there is a decoupling phenomenon between the BRICS stock markets and the US market and if this phenomenon can be explained by the integration between the BRICS markets from 2003 to October of 2012. I analyzed models in which the dependent variables is the absolute difference of performance between a portfolio with indexes of BRICS stock markets and the S&P500 index of the north american market. The independent variable consisted of proxies to the integration of the BRICS stock markets. I analyzed the models before and after the financial crisis of 2008. Additionally, models were generated without the inclusion of the chinese market in order to verify its impact on the relation between the studied variables. Among the results, I found evidences of: (i) a possible decoupling between the performances of BRICS and US markets, mainly from 2003 to 2006; (ii) a significant influence of the integration between BRICS markets and on the identified decoupling; (iii) a relevant impact of the chinese market on the analyzed phenomena; and (iv) important changes on the results before and after the financial crisis of 2008. These results support the hypothesis that the recent interaction between the emerging markets has produced a group factor that has generated performances significantly different from the developed countries, having important implications to the theory of international diversification of portfolios.
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Arnoldová, Barbora. "Role BRICS v koncepcích a realitě vnějších vztahů EU." Master's thesis, Vysoká škola ekonomická v Praze, 2012. http://www.nusl.cz/ntk/nusl-199931.
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The topic of this diploma thesis is the role of BRICS in the conceptions and reality of the external relations of the EU. The goal of this diploma thesis is to analyse the mutual relations of the EU and BRICS, based on a comparison of the workings and factual bases of their relations and to deduce possibilities for further progress in their cooperation. The EU develops relations with BRICS countries mostly on a bilateral level. Since the announcement of their strategic partnerships, cooperation between them has grown rapidly. Because bilateral agreements don't reflect actual needs anymore, there are ongoing negotiations about their new form which should enable further deepening of their cooperation. The first chapter describes the position of BRICS countries in the external relations of the EU, the development of the legal-institutional framework of relations between the EU and individual countries and the objectives for further deepening of cooperation. The second chapter analyses trade, flows of foreign direct investments and other areas influencing the mutual relations between these entities. The third chapter offers possibilities for further development of cooperation between the EU and BRICS countries.
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Hossain, Md Zakir. "Impending Effects of Basel III in the BRICS Economies." Thesis, Curtin University, 2016. http://hdl.handle.net/20.500.11937/48481.
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This thesis addresses the concerns whether the universal rules of Basel III would be able to protect banks and ensure macroeconomic benefits in the BRICS economies. The empirical evidence shows that the Basel III regulation is effective in increasing the resilience of banks. The regulation increases GDP albeit with some macroeconomic costs. However, the net benefits are positive. Thus, it seems worthwhile to adopt and implement the Basel III regulation in the BRICS economies.
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Makhalova, Evgeniya. "BRIICS: unilaterální nebo multilaterální cesta politického a ekonomického vzestupu." Master's thesis, Vysoká škola ekonomická v Praze, 2011. http://www.nusl.cz/ntk/nusl-113611.
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The main goal of this thesis is to identify position of the group BRIICS on the international arena and to determine whether the economic and political rise of concerned economies is potentially hidden in a closer multilateral cooperation or in the separate influences on the world. Moreover, this work aims to answer the question if the BRIICS countries have the potential to dictate their conditions to the international organizations and world public. It also describes the developing countries, their basic categorization and after all the fastest growing economies (emerging markets) are singled out. This paper also examines the impact of the internal social, demographic and political problems on the existence of the organization.
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Ziegler, Thomas Ulrich. "Immobilieninvestitionen in Brasilien, Russland, Indien und China Growing with BRICs? /." St. Gallen, 2008. http://www.biblio.unisg.ch/org/biblio/edoc.nsf/wwwDisplayIdentifier/02606739002/$FILE/02606739002.pdf.
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Jaiswal, Umesh Kumar, and Victoria Voronina. "Relationship between Gold and Stock Returns: Empirical evidence from BRICs." Thesis, Umeå universitet, Handelshögskolan vid Umeå universitet (USBE), 2012. http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-53355.
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The purpose of this study was to investigate the relationship between gold and stock returns with evidence from BRIC countries during 2001-2010. The importance of this topic is caused by instability in the world economy and stock markets, and due to this instability, there is a growing interest in gold from investors and the current bull market of gold. Considering that gold is independent from most of the macroeconomic factors we believe that it therefore should be independent from or low correlated with stock, which makes this metal useful for portfolio diversification. Based on previous studies, we also believe that gold can be used to predict, to some degree, the stock market trend. The force behind such stable price growth of gold is sustained by demand from emerging countries such as BRICs. Moreover, there is lack of research on this topic from the perspective of different economic sectors. These facts determined the choice of countries along with their economic sectors. The research was designed in the frame of quantitative method. The types of relationship that were investigated are correlation and spillover effects. In order to examine these relationships we have utilized secondary data, which are gold prices and stock indices turned into returns. The Pearson’s correlation and diagonal BEKK GARCH were applied to test the correlation and spillover effects between returns of gold and stock, respectively. The results of the study showed that gold and stock returns are correlated, however to a low degree. Additionally, correlation varies across countries and their economic sectors over time, which may influence investors’ decision in choice of allocation of investments. The other findings showed the existence of mean spillover effects, both unidirectional and bidirectional, and volatility spillover effects between gold and stock returns. The principal conclusions were that gold is an efficient portfolio diversifier, which also plays a role of a hedge and a safe haven. Similarly, taking into account an existence of spillover effects, gold can be helpful in terms of stock prediction and vice versa. Further, another important finding was that not all of the economic sectors had mean spillover with gold, but in terms of volatility, every sector had a certain relationship with gold.
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Yao, Ning. "BRICS cooperation mechanism and its impacts on global economic governance." Thesis, University of Macau, 2015. http://umaclib3.umac.mo/record=b3335238.
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Oganesyan, Mariam. "Carbon Emissions, Energy Consumption and Economic Growth in the BRICS." Thesis, Internationella Handelshögskolan, Högskolan i Jönköping, IHH, Nationalekonomi, 2017. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-35891.
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This thesis investigates the environmental Kuznets curve (EKC) and the link between carbon emissions, energy use and economic growth in the BRICS countries within 1980-2013. The reason for analysing a sample of energy-intensive developing countries (the BRICS) is that these nations are of major concern for the global environmental challenge. The results of panel cointegration relationship estimation do not support the EKC. The estimated elasticity of carbon dioxide emissions to energy use is 0.60%, while the elasticity of economic growth to energy consumption is 1.74%. Moreover, the causality tests indicate that energy use Granger-causes carbon emissions, while economic growth, in turn, Granger-causes energy use. This thesis adds to the existing literature and can have policy relevance for the BRICS countries. Based on the results of this study, the overall recommendation is to prioritize increase in energy efficiency through technological development and use of cleaner resources of production.
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Kambourova, Tzveta. "Trendy v obchodní politice zemí BRICS a jejich vzájemném obchodu." Master's thesis, Vysoká škola ekonomická v Praze, 2011. http://www.nusl.cz/ntk/nusl-142290.
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BRICS Countries belong to dynamically evolving developing countries and some of them aspire to reach the position of a new world economic power, especially since the time when the economic crises hit the world economy and developed countries were largely economically weakened by the crisis. The objective of this thesis is to identify principal trends in the trade policy of BRICS countries, especially in the mutual trade which is characterized by a specific commodity structure and to exemplify these trends on trade and trade policy of the two largest trade partners within BRICS countries - China and India.
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Miggiano, Lorenzo. "La politica energetica nei paesi emergenti (Brics): il caso India." Master's thesis, Alma Mater Studiorum - Università di Bologna, 2013. http://amslaurea.unibo.it/6449/.
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Bassetti, Diogo Ribas. "Mapping-out export opportunities for Brazilian products to the BRICS." reponame:Repositório Institucional do FGV, 2017. http://hdl.handle.net/10438/18821.
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This study aims to identify export opportunities for Brazilian products to other countries of the BRICS. It utilized the Decision Support Model (DSM), created by Cuyvers et al (1995), with the intent of assisting policy makers and instituitions by identifying and filtering foreign markets and as a result detecting export opportunities. This is the first application of the DSM to Brazil, therefore the literature has no history about Brazilian export opportunities in reference of this model. The analysis made had as input the HS 6-digit level of disaggregation of products, being able to retain a high level of depth regarding the right selection of products in the BRICS’ import market, aside from Brazil. The overall analysis was made between 2011 and 2015. The results of the model showed 1,113 products which can be successfully exported to Russia, China, India and South Africa, evaluated as realistic export opportunities, and following a Marketshare analysis, between 80% and 95% of those products, with small variations from year to year, are not explored or explored very little by Brazil’s exporters. The model also exposed 292 products in which Brazil already has or had expertise in exporting. Also, it was calculated the potential value of those exports: the year of 2014 a total US$ 136.9 billions of dollars; for the year of 2015, 101.7 billions of dollars; and considering products selected by Brazil’s export capacity, for 2014, 62.3 billions of dollars; for 2015, 43 billions of dollars.
Este estudo tem como objetivo identificar oportunidades de exportação de produtos brasileiros para outros países do BRICS. Utilizou o Decision Support Model (DSM), criado por Cuyvers et al (1995), com a intenção de auxiliar políticos e instituições, identificando e filtrando mercados externos e, como resultado, detectando oportunidades de exportação. Esta é a primeira aplicação do DSM para o Brasil, portanto, a literatura não tem história sobre as oportunidades de exportação brasileiras em referência a este modelo. A análise realizada teve como entrada o nível de desagregação de produtos de 6 dígitos do HS, podendo manter um alto nível de profundidade em relação à seleção correta de produtos no mercado de importação do BRICS, além do Brasil. A análise geral foi feita entre 2011 e 2015. Os resultados do modelo mostraram 1.113 produtos que podem ser exportados com sucesso para a Rússia, China, Índia e África do Sul, avaliados como oportunidades de exportação realistas e, após uma análise da Marketshare, entre 80% e 95 % desses produtos, com pequenas variações de ano para ano, não são explorados ou explorados muito pouco pelos exportadores brasileiros. O modelo também expôs 292 produtos em que o Brasil já possui ou tem experiência em exportar. Além disso, foi calculado o valor potencial dessas exportações: o ano de 2014 totalizou 136,9 bilhões de dólares; para o ano de 2015, 101,7 bilhões de dólares; e considerando produtos selecionados pela capacidade de exportação do Brasil, para 2014, 62,3 bilhões de dólares; para 2015 43 bilhões de dólares.
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Yamane, Daniela Fernanda. "Padrões de especialização e competitividade externa nos BRICS no período 2000-2012." Universidade Federal de Uberlândia, 2014. https://repositorio.ufu.br/handle/123456789/13572.
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Coordenação de Aperfeiçoamento de Pessoal de Nível SuperiorThe present work aims, at first, to determine the relationship between export basket and income per capita worldwide, seeking to understand if what a country exports is relevant to its economic performance. For this, it has been used the calculation of PRODYX index and the results obtained shows that exports of different products have different associated average income per capita, corroborating with the hypothesis that what a country produces and exports is important for its economic performance. In a second moment, this work aims to monitor and characterize quantitatively and qualitatively, the evolution of trade flows of the countries members of BRIC in the 2000s. For this, it has been analyzed the growth, the relative composition and the trade balance of the commercial flows of BRIC, and calculated the indicators of external trade (Market-Share, Revealed Comparative Advantages, Index of Contribution to the Trade Balance and Index of Intra-Industry Trade) and the obtained results were that, on the one hand, Brazil and Russia not only maintained a pattern of rigid specialization, keeping with the existing pattern in the early 2000s, but also deepened this pattern, with an increase in the dynamics of primary products and intensives in natural resources. On the other hand, India and mainly China showed changes in the period, converging to a pattern of specialization based on products with higher added value and greater diversification.
O presente trabalho busca, em um primeiro momento, averiguar a relação entre pauta exportadora e renda per capita mundial, visando compreender se o que um país exporta é relevante para o seu desempenho econômico. Para isso, utiliza-se o cálculo do índice PRODYX e os resultados obtidos comprovam que as exportações de diferentes produtos apresentam renda média per capita associada diferentes, corroborando a hipótese de que o que um país produz e exporta é importante para o seu desempenho econômico. Em um segundo momento, o trabalho busca acompanhar e caracterizar, quantitativa e qualitativamente, a evolução dos fluxos de comércio nos anos 2000 dos países integrantes do BRIC. Para isso, analisa-se o crescimento, a composição relativa e o saldo comercial dos fluxos de comércio do BRIC e calculam-se os indicadores de comércio exterior (Market-Share, Vantagens Comparativas Reveladas, Índice de Contribuição ao Saldo Comercial e Índice de Comércio Intraindustrial) e os resultados gerados foram que, por um lado, o Brasil e a Rússia não apenas mantiveram um padrão de especialização rígido, com continuidade do padrão existente no inicio dos anos 2000, como também se aprofundaram neste padrão, com aumento do dinamismo em produtos primários e intensivos em recursos naturais. Por outro lado, a Índia e, principalmente, a China apresentaram modificações no período, convergindo para um padrão de especialização pautado em produtos de maior valor agregado e com maior diversificação.
Mestre em Economia
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Sousa, Melissa Rejane Grangeiro de. "O Banco Mundial, o Banco do BRICS e a perspectiva de mudança à luz da governança econômica global." Universidade Estadual da Paraíba, 2015. http://tede.bc.uepb.edu.br/tede/jspui/handle/tede/2544.
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CAPES
This master thesis aims to discuss the changes in global economic governance through the analysis of the Voice Reforms in the World Bank and the creation of the BRICS Bank. Through an exploratory, bibliographical and documentary research, it analyzes how the countries are represented in the World Bank decision-making process, the performance of this international institution on the political scene, as well as what represents the creation of a new economic institution by a group of emerging countries. In the first chapter, the concept of global governance will be discussed from its emergence and consolidation in the study of international relations and how it was an important ally to understand the changes in the global order, especially in the economic area, including at this time the global economic governance. Then, in the second chapter, the World Bank will be examined from the point of view of its origin, its political structure and the reform to which it was subjected. Finally, the third chapter analyzes the impact of the Voice Reform - which was an initiative led by developing and emerging countries to achieve a series of changes in the composition of the World Bank shares- and then evaluates its main outcomes. Also in this chapter, the emergence of the BRICS will be presented, the Bank created by this group, the New Development Bank, and the prospects and challenges that a change in Bank policy composition can bring both to their internal organization as to its performance in the current international order. As a conclusion of this study, there is a need to implement effective reforms in the global economic governance that can promote the democratic participation of countries and then the international institution will effectively make its role in the new world order. The demand for a more equitable participation in the economic scenario explains the creation of the Bank of the BRICS, which is therefore a moment for reflection about the current power structures that dominate the international economic area and that do not reflect the economic weight of the countries that compose.
Essa dissertação tem como objetivo discutir as alterações da governança econômica global a partir da análise das reformas de voz do Banco Mundial e da criação do Banco dos BRICS. Por meio de uma pesquisa exploratória, bibliográfica e documental, será analisada a forma como os países estão representados nas instâncias decisórias do Banco Mundial e a atuação dessa instituição na cena política internacional, bem como o que representa a criação de uma nova instituição econômica por parte de um grupo de países emergentes. No primeiro capítulo, o conceito de governança global será discutido a partir do seu surgimento e consolidação no estudo das relações internacionais e como ele foi um importante aliado na compreensão das mudanças da ordem global, sobretudo na seara econômica, abrangendo assim a governança econômica global. Em sequência, no segundo capítulo, o Banco Mundial será analisado do ponto de vista da sua origem, da sua estrutura política e da reforma a que foi submetido. Por fim, o terceiro capítulo aborda o impacto do Voice Reform, isto é, uma iniciativa liderada por países em desenvolvimento e emergentes buscando uma série de mudanças na composição das cotas do Banco, e avalia os seus principais resultados. Ainda neste capítulo, será apresentado a emergência dos BRICS e do Banco lançado por esse grupo, o New Development Bank, bem como as perspectivas e desafios que uma alteração na composição política do Banco Mundial poderá trazer tanto para a sua organização interna como para sua atuação na atual ordem internacional. Como conclusão deste estudo, constata-se a necessidade de implementar reformas efetivas na governança econômica global para que assim seja possível a participação democrática dos países e para que dessa forma uma instituição internacional possa cumprir de maneira eficaz o seu papel na nova ordem mundial. A demanda por uma participação mais equitativa no cenário econômico explica a criação do Banco dos BRICS, sendo este, portanto, um momento de reflexão das atuais estruturas de poder que dominam a seara econômica internacional e que não refletem o peso econômico dos países que a compõe.
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Santana, Carlos Henrique Vieira. "Trajetórias de reformas e mudanças institucionais na semiperiferia : abertura financeira e capacidades estatais no Brasil e India." Universidade do Estado do Rio de Janeiro, 2012. http://www.bdtd.uerj.br/tde_busca/arquivo.php?codArquivo=5640.
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A presente tese se empenha na análise comparada de corte polanyiano da trajetória de liberalização econômica do Brasil e Índia. O objetivo é compreender os padrões de mudança
institucional que organizam as reformas orientadas para o mercado. Para isso empregou uma análise que combina modelos de coalizão de interesse, dependência de trajetória e
comunidades epistêmicas empregados de forma interdependente para entender as adaptações ao cenário de globalização financeira. Os mecanismos de fertilização mútua
dessas variáveis causais desempenham um papel analítico crucial porque permitiu escapar de modelos monocausais que tendem a ficar presos a explicações que sobredeterminam
exclusivamente restrições externas, padrões institucionais domésticos ou legados institucionais estatais. Ao empregar esse instrumento, a tese procura mostrar as diferenças no
grau de liberdade das capacidades estatais entre Brasil e Índia no contexto das reformas e as semelhanças em termos da estratégia incremental das reformas.By using the Polanyian perspective, this thesis undertakes a comparative analysis of the economic liberalization trajectories in Brazil and India. The aim is to comprehend the patterns of institutional change that organize the market-oriented reforms. For that was employed an analysis that combines in an interconnected manner the theoretical models of interest coalitions, path dependency and epistemic communities, in order to understand the adaptations to the settings of financial globalization. The mechanisms of cross-fertilization of these causal variables perform a crucial analytical role because they permit to escape from the monocausal models that tend to become prisoners of explanations that exclusively overdetermine the external restrictions, domestic institutional patters or state institutional legacies. By using this instrument, the thesis aims to show the differences in the degree of maneuver of state capacities in Brazil and India within the context of reforms and resemblances in terms of incremental reform strategies.
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Du, Plessis Jan-Adriaan. "The BRICS countries as potential destinations for multinational manufacturing enterprises (MMEs)." Diss., University of Pretoria, 2012. http://hdl.handle.net/2263/29588.
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A shift in economic power from the developed world to emerging markets has seen the BRICS countries becoming the new growth centre of the world. In 2010, half of the total global foreign direct investment (FDI) flows went to emerging economies. A large portion of these FDI flows goes to the manufacturing industry with a quarter of the global GDP being generated by the production processes of multinational manufacturing enterprises (MMEs). The challenge for the BRICS countries will be to sustain their trend in FDI inflow. Previous studies on this topic focused on the determinants of FDI at country level as opposed to an industry specific focus. The outcome of this study assists MMEs in their entering decisions and policy makers in developing policies that create an enabling environment that will attract foreign capital.This research analyses the BRICS countries as potential destinations for FDI in the manufacturing industry. The analyses followed a three phased approach. The first phase identified the potential determinants of FDI to the manufacturing industry of the BRICS countries. The second phase either validated or disproved investor perceptions about the factors that would impact on the performance of an investment. In the third and final phase of the analysis, the competitiveness of the BRICS countries in attracting FDI to the manufacturing industry was assessed.The analysis of the three hypotheses contributed to the overarching theme of evaluating the BRICS countries as potential destinations for MMEs. The outcome of the analysis highlights that countries are unique and that investor perceptions about a country’s conditions and how this will impact on the performance of an investment are not always valid. In the overall analysis of the BRICS countries as potential destinations for FDI, the majority of the BRICS countries, with the exception of South Africa, are found to be competitive destinations for attracting FDI to the manufacturing industry. On the basis of the outcome of the analysis and the methodology followed in this study, a general model that can be used in future FDI research is suggested.Dissertation (MBA)--University of Pretoria, 2012.
Gordon Institute of Business Science (GIBS)
unrestricted
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Konradsson, Richard, and Theodor Porss. "Stock market integration between the BRICS countries : Long-term investment opportunities." Thesis, Linköpings universitet, Nationalekonomi, 2019. http://urn.kb.se/resolve?urn=urn:nbn:se:liu:diva-158655.
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This paper investigates the long-term diversification opportunities that exists for global investors among the BRICS nations. It analyzes how risk-averse investors can allocate funds between the countries in order to maximize the expected return in relation to the overall risk. It utilizes an empirical cointegration approach in tandem with modern portfolio theory during the time period 1999-2019. The empirical results of cointegration that is found supports the suggestion that the BRICS markets have a stable risk-premium between each other and that they all share similar systematic risk factors. The results further support the construction of a portfolio solely compromising of stocks from four out of the five BRICS markets, since then they do not share any long-run co-movements with each other. Moreover, the markets of Brazil, India, China and South Africa are strong candidates for reducing portfolio risk without sacrificing the adjusted portfolio return. The results also indicate several causal relationships between the nations, with China as the main driving force. This suggest that shocks in the Chinese market will spread and effect the rest of the BRICS markets, either directly or through one of the other markets. This is important knowledge for global policy-makers since China could be affected by markets outside the co-operation and subsequently transfer it to the rest of the BRICS markets. Since the countries accounts approximately 25 % of the global GDP, policy-makers must act with great care before implementing economic policies against China, since the consequences can have a much larger and wider effect than they anticipate.
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Shoba, Muzi Sipho. "An assessment of South Africa’s membership in the BRICS formation in relation to IBSA and SADC." Thesis, University of Zululand, 2017. http://hdl.handle.net/10530/1580.
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A thesis submitted to the Faculty of Arts in fulfillment of the Degree of Master of Arts (Development Studies) in the Department of Anthropology and Development Studies at the University of Zululand, 2017The role and importance of the so-called BRICS and the integration of South Africa into the grouping has been debated in the parlance of international relations. Many accounts have been made on this topic focusing mainly on the question of why South Africa sought BRICS membership and why it was granted the membership. These accounts do not only ignore the questions around the benefits and constraints for South Africa, but also bypasses the critical question of the impact of the grouping on the international monetary system and international financial institutions. This study therefore has been motivated by the desire to explore the prospects and the pros and cons that befall South Africa for being a member of the BRICS grouping. The study is also driven by the need to assess (to a lesser extent) the implications of the rise of the grouping to the international financial institutions. In order to fulfil these aims, a qualitative research method has been chosen. The study is strictly based on secondary sources such as textbooks, official documents from the Department of International Relations and Cooperation of South Africa, articles, magazines and newspapers, as well as internet resources. The analysis has been made possible through the employment of two theoretical frameworks: constructivism approach and theory of regional integration, both of which underpinned the study. Through extensive engagement with the literature reviewed and the historical analysis, the study found there are more prospects than constraints for the rainbow nation. The study also argues that the BRICS grouping would not make any substantial change to the nature of the international financial system at this stage, but would only make an additional balance of payment available to the countries requiring it. Therefore as recommendation, South Africa must think outside the framework of these groupings, and rely less on them for its advancements.
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Bouabdellah, Najla. "L’impact du capital intellectuel sur la performance des entreprises : cas des pays BRICS." Thesis, Angers, 2019. http://www.theses.fr/2019ANGE0017.
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Cette thèse examine la relation entre le capital intellectuel (CI) et la performance des entreprises des pays BRICS. Au cours de la dernière décennie, plusieurs recherches ont étudié ce lien, mais ces études ont toutefois fait état de résultats divergents. La littérature attribue ces résultats divergents à un certain nombre de facteurs tels que : de petits échantillons dans les études, ou de courts intervalles de temps. Pour la réalisation de cette thèse, des données ont été collectées auprès de 218 entreprises de tous types de secteurs d’activité des pays BRICS pour la période allant de 2010 à 2014. La contribution de cette thèse a été l’utilisation d’une nouvelle méthode de mesure du CI telle que la méthode de Sydler et al (2014), ainsi, l'analyse de données provenant non seulement d'un seul pays, mais aussi d'un vaste ensemble de données des pays émergents, sans séparation de secteur d’activité, afin d'obtenir des résultats généraux. Nos résultats montrent que le CI a un impact négatif et significatif sur la performance des entreprises. Concernant les résultats des modèles de régression par pays, les entreprises chinoises ont affiché une meilleure performance en termes de variable CI, par rapport aux autres pays. En comparant les entreprises à forte intensité du CI et les entreprises à faible intensité du CI, nous constatons que les entreprises à forte intensité du CI affichent des performances nettement meilleuresThis thesis examines the relationship between intellectual capital (IC) and BRICS business performance. Over the past decade, several studies have investigated this link, but these studies have reported diverging results. The literature attributes these divergent results to a number of factors such as: small samples in studies, or short time intervals. For the realization of this thesis, data were collected from 218 companies of all types of industries of the BRICS countries for the period from 2010 to 2014. The contribution of this thesis was the use of a new measurement method of IC like the method of Sydler et al (2014), thus, the analysis of data coming not only from a single country or some industries, but also from a vast dataset of emerging countries, without separation of sector, in order to obtain general results. Our results show that IC has a negative and significant impact on business performance. With respect to the results of the country regression models, Chinese enterprises performed better in terms of the IC variable compared to other countries. Comparing IC-intensive companies and IC low-intensity firms, we find that IC-intensive firms show significantly better performance
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Silva, Juliana de Sales. "Ambiente institucional e margens extensiva e intensiva do comércio internacional do BRICS no período de 2000 a 2014." Universidade Federal de Viçosa, 2018. http://www.locus.ufv.br/handle/123456789/19846.
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Coordenação de Aperfeiçoamento de Pessoal de Nível Superior
O ambiente institucional em que um país está inserido é um importante determinante de comércio e desenvolvimento econômico. Entendem-se, como instituições, regras para regular ações econômicas, políticas e sociais. Assim, uma boa qualidade institucional pode facilitar e melhorar as relações comerciais entre grupos países pelos menores custos de transações. Nesse sentido, dado o agrupamento do Brasil, Rússia, Índia, China e África do Sul como BRICS apresentar um comércio internacional acima da média mundial, este trabalho teve por objetivo avaliar o efeito da qualidade do ambiente institucional político e econômico sobre as margens intensiva e extensiva de exportações do grupo, no período de 2000 a 2014. Especificamente, buscou-se: a) avaliar a evolução dos fluxos de comércio internacional de cada um dos países que compõem o BRICS; b) avaliar a qualidade do ambiente institucional político e econômico e identificar seus efeitos sobre o comércio internacional do grupo; c) identificar o efeito e a contribuição advinda da formação do grupo BRICS sobre as margens do comércio internacional; d) verificar o efeito do ambiente institucional de cada países do grupo sobre as margens do comércio internacional; e e) identificar os efeitos da heterogeneidade institucional sobre as margens extensiva e intensiva do comércio internacional do BRICS. O referencial teórico utilizado para fundamentar esta pesquisa se baseou na teoria do comércio internacional, teoria das instituições e no modelo gravitacional. A abordagem empírica utilizada compreendeu equações de gravidade, utilizando as variáveis dependentes valor transacionado das exportações do BRICS em US$ e margens extensiva e intensiva, calculadas com base em Hummels e Klenow (2005). A primeira equação se refere à variedade de produtos e a segunda, ao fluxo monetário. Para verificar o efeito da qualidade dos ambientes institucionais político e econômico, foram construídos dois índices com base nas variáveis de Kaufmann et al. (2004) (político) e de Bittencourt et al. (2016) (econômico). O procedimento de estimação das equações supracitadas foi um modelo em cross section repetido ao longo do tempo, com método de Seleção Amostral de Heckman por Máxima Verossimilhança (ML). A amostra utilizada no estudo considerou as exportações, desagregadas em 5.108 produtos de acordo com o sistema harmonizado em seis dígitos (SH-6), do BRICS para 54 principais parceiros comerciais no período de 2000 a 2014, totalizando uma amostra de 6.698.484 observações. De maneira geral, os resultados apontaram significante crescimento no mercado internacional do grupo, mas no que se refere à qualidade do ambiente institucional político e econômico, observou-se baixa qualidade institucional. No que se refere às margens intensiva e extensiva, notou-se que a China foi o principal país exportador (margem intensiva) e a África do Sul o país que exportou maior variedade de produtos (margem extensiva). Quanto aos resultados das equações estimadas, o agrupamento do BRICS contribuiu positivamente para as exportações do grupo, mas apenas no que se refere ao valor monetário transacionado; o ambiente institucional político do BRICS exportações indicou influência positiva sobre as em termos de fluxo de comércio e número de produtos; o ambiente institucional dos parceiros comerciais indicou que uma melhor qualidade institucional dos parceiros comerciais aumenta a variedade de produtos exportado; o ambiente institucional econômico do BRICS e dos principais parceiros comerciais indicou que uma melhor qualidade institucional econômica tende a aumentar as exportações tanto em número de produtos quanto em valor monetário; o ambiente institucional em cada país do grupo apresentou efeito positivo no Brasil, Rússia, China e Índia, comparativamente à África do Sul nos fluxos monetários e efeito negativo na gama de produtos; e a heterogeneidade institucional política e econômica mostrou que as disparidades institucionais entre os países da amostra afetam negativamente o comércio internacional do BRICS. Diante do exposto, em termos mundiais, os BRICS têm ainda baixa qualidade institucional política e econômica, apresentando estes fatores efeito positivo nas exportações do grupo. Sendo assim, buscar por melhorias nesses dois âmbitos pode melhorar as exportações desses países, seja no alcance de novos parceiros comerciais, seja no aumento do fluxo transacionado.
The institutional environment in which a country is inserted is an important determinant of trade and economic development. It is understood, as institutions, rules to regulate economic, political and social actions. Thus, good institutional quality can facilitate and improve trade relations between groups of countries by lower transaction costs. In this sense, given the grouping of Brazil, Russia, India, China and South Africa as BRICS present an international trade above the world average, this work aimed to evaluate the effect of the quality of the political and economic institutional environment on the intensive and of the group's exports, from 2000 to 2014. Specifically, it was sought to: a) evaluate the evolution of the international trade flows of each of the BRICS countries; b) assess the quality of the political and economic institutional environment and identify its effects on the international trade of the group; c) identify the effect and contribution of the BRICS group on the international trade margins; d) verify the effect of the institutional environment of each group of countries on the margins of international trade; and e) identify the effects of institutional heterogeneity on the extensive and intensive margins of BRICS international trade. The theoretical framework used to base this research was based on international trade theory, institutional theory and the gravitational model. The empirical approach used included gravity equations, using the dependent variables transacted value of BRICS exports in US $ and extensive and intensive margins, calculated based on Hummels and Klenow (2005). The first equation refers to the variety of products and the second to the monetary flow. In order to verify the quality effect of the political and economic institutional environments, two indices were constructed based on the variables of Kaufmann et al. (2004) (political) and Bittencourt et al. (2016) (economic). The estimation procedure of the above equations was a cross section model repeated over time, using the Heckman Sampling Selection by Maximum Likelihood (ML) method. The sample used in the study considered exports, broken down into 5,108 products according to the BRICS six-digit harmonized system (SH-6) for 54 major trading partners in the period from 2000 to 2014, totaling a sample of 6,698,484 observations . In general, the results showed a significant growth in the international market of the group, but with regard to the quality of the political and economic institutional environment, a low institutional quality was observed. With regard to the intensive and extensive margins, it was noted that China was the main exporting country (intensive margin) and South Africa the country that exported a greater variety of products (extensive margin). Regarding the results of the estimated equations, the BRICS group contributed positively to the group's exports, but only with regard to the monetary value transacted; the BRICS political institutional environment indicated a positive influence on exports in terms of trade flow and number of products; the institutional environment of trading partners has indicated that a better institutional quality of trading partners increases the variety of products exported; the economic institutional environment of the BRICS and the main trading partners indicated that a better institutional quality of the economy tends to increase exports in terms of both number of products and monetary value; the institutional environment in each country of the group had a positive effect in Brazil, Russia, China and India compared to South Africa in monetary flows and a negative effect on the product range; and political and economic institutional heterogeneity has shown that institutional disparities among the sample countries negatively affect BRICS international trade. In the light of the above, BRICS still has low political and economic institutional quality, and these factors have a positive effect on the Group's exports. Therefore, seeking improvements in these two areas can improve the exports of these countries, either in the reach of new trading partners, or increasing the flow of trade.
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Ruzive, Tafadzwa Mutsvedu. "The influence of financial market development on economic growth in Brics countries." Thesis, Nelson Mandela Metropolitan University, 2015. http://hdl.handle.net/10948/6594.
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The debate about the influence of financial market development on economic growth has been ongoing for more than a century. Since Schumpeter (1912) wrote about the happenings on Lombard Street, right up to the economists of today, there is growing interest into how financial market development affects economic activity and hence economic growth. With economic growth gaining prominence in respect of development discourse, inquiry into the finance-growth nexus has grown rapidly. The latest advances of the finance-growth nexus show a positive relationship between financial market development and economic growth. In this regard, little research has been done globally pertaining to most recent economic developments, especially concerning the BRICS economies. This research investigates the influence of financial market development on emerging economies, BRICS and non-BRICS and to determine whether the openness of financial markets in BRICS economies contributed to higher growth trajectories compared to their non-BRICS counterparts. The research utilises the Generalised Method of Moments and an extended endogenous growth model to estimate the influence of a set of financial market indicators. The study found that higher levels of credit to the private sector and financial depth in the BRICS economies contributed to the higher levels of economic growth experienced in the BRICS compared to non-BRICs emerging economies.
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Prado, Marcos Aparecido Rodrigues do [UNESP]. "Os BRICS na perspectiva geopolítica: uma análise cientométrica de 2001 a 2010." Universidade Estadual Paulista (UNESP), 2014. http://hdl.handle.net/11449/113868.
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000802240.pdf: 2755710 bytes, checksum: 2ac8c10da47aa1035ea2f8c6b3172a1a (MD5)O mundo contemporâneo dispõe de uma construção geopolítica em que os países de economia emergente têm se destacado na conjunção do poder global. Nesta configuração, um grupo de países se organizou e tem fortalecido sua representação no cenário internacional. Brasil, Rússia, Índia, China e África do Sul são as nações que compartilham das expectativas de um poder global caracterizado pela multipolaridade. Os governos dos quatro primeiros países mencionados articularam a formalização de um bloco geopolítico com relevância estratégica para atuação frente ao cenário internacional. Assim, o bloco BRICS foi constituído como organismo político que visa promover ações consorciadas que abrangem o desenvolvimento econômico, social e estratégico. Em 2001, o acrônimo foi cunhado pelo economista inglês Jim O’Neill como resultado de um estudo que apontou os quatro países mais promissores entre as economias emergentes. Em 2006, deu-se início a um processo de integração política entre os quatro países. O sucesso das periódicas cúpulas governamentais que se seguiram ocasionou à formalização do bloco BRICs no ano de 2009. E, em 2010, ocorreu a iniciativa de expansão do grupo com a adesão da África do Sul como membro efetivo. Desde então, o bloco passou a ser denominado oficialmente como BRICS. É com interesse em tal construção geopolítica que este estudo se baseia na cientomentria para analisar os indicadores econômicos e sociais e suas correlações com os indicadores de produção científica. Desta forma, a pesquisa objetiva levantar e analisar os dados relativos às publicações científicas indexadas na base Scopus dos quatro países que integram o genuíno grupo BRICS, ou seja, Brasil, Rússia, Índia e China. Também, compõe o escopo do estudo a apresentação dos conceitos e aplicações dos indicadores, assim como a identificação das características relevantes do cenário geopolítico e do...
The contemporary world has a geopolitical construction in which the emerging market countries have been highlighted in the conjunction of global power. In this configuration, a group of countries was organized and has strengthened its representation in the international scene. Brazil, Russia, India, China and South Africa are the countries that share the expectations of a global power characterized by multipolarity. The governments of the four first mentioned countries articulated the formalization of a geopolitical bloc with strategic relevance for action against the international scene. Thus, the BRICS bloc was formed as a political organization that seeks to promote consorted actions covering economic, social and strategic development. In 2001, the acronym was coined by the english economist Jim O'Neill English as a result of a study that showed the four most promising countries among emerging economies. In 2006 it was begun a process of political integration among the four countries. The success of periodic governmental summits that followed led to the formalization of the BRIC bloc in 2009. And in 2010, the group expanded with the accession of South Africa as a full member. Since then, the block became officially termed as BRICS. It is with interest in such a geopolitical construction that this study is based on scientometry to analyze the economic and social indicators and their correlations with indicators of scientific production. Thus, the research aims to survey and analyze the data on scientific publications indexed in Scopus basis of the four countries that make up the genuine BRICS group, Brazil, Russia, India and China. Also, the scope of the study comprises the presentation of the concepts and applications of indicators as well as the identification of relevant features of the geopolitical scenario and scientific context in which the BRICS are inserted. The method used was the comparative study between indicators raised...
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Sousa, Mariana Orsini Machado de. "A crise norte-americana do subprime: medindo o contágio para os BRICS." Universidade de São Paulo, 2011. http://www.teses.usp.br/teses/disponiveis/12/12138/tde-19092011-144700/.
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Uma característica marcante da recente crise financeira que ocorreu entre 2007 e 2009, conhecida como \"A Crise do Subprime\", foi quão rapidamente se propagou por todo o mundo. Entretanto, a maior parte da evidência empírica até o presente momento mostra que no início da crise (jun/07 - ago/08) a resposta das economias emergentes foi limitada. Este trabalho corrobora este fato, bem como a rápida saída da crise, para um grupo de países emergentes em acelerado processo de desenvolvimento: Brasil, Rússia, Índia e China, os BRICs. Encontramos ainda evidências de que a China exerceu, principalmente durante a crise, forte impacto positivo nos BRICs, o que nos levou a concluir que este foi um fator importante para que fossem menos afetados, quando comparados com economias desenvolvidas como os EUA. Também mostramos que países dentre os BRICs cuja atividade econômica apresenta maior semelhança - Brasil X Rússia e Índia X China - são afetados de modo geral de forma análoga e observamos ainda evidência de notáveis ligações financeiras entre os países do grupo. Por último, notamos que variáveis reais dos BRICs responderam com menor intensidade aos efeitos da crise quando comparadas a variáveis financeiras do próprio grupo e variáveis reais de países desenvolvidos. Para o estudo, utilizamos modelos S-VAR, VEC e testes de cointegração em painel, este último para os modelos com variáveis macroeconômicas reais. Também utilizamos um índice de propagação de calor, desenvolvido pelo Fundo Monetário Internacional (FMI), que mede a intensidade dos efeitos da crise nas variáveis para cada instante do tempo.One of the main characteristics of the recent financial crisis that took place between 2007 and 2009, known as \"The Subprime Crisis\", was how fast it spread all around the globe. Nevertheless, most empirical evidence shows that at the beginning of the crisis (Jun/07- Aug/08) emerging markets\' response was limited. This present study corroborates this idea for a fast raising group of emerging economies: Brazil, Russia, India and China, the BRICs. We show as well how rapid these economies have managed to get out of the crisis and the not negligent positive impact that China had in all of them, especially during the crisis period. We infer that China\'s booming economy must have been one of the main factors that made the crisis\' impact reduced for the BRICs when compared to developed countries such as the US. We also show that countries among the BRICs that have more similarities - Brazil X Russia and India X China - were in general affected in an analogous way and we observe that there are strong financial links between group members. Last, we find that the crisis\' effect on real BRIC\'s macroeconomic variables was not as intense as those on developed countries or on BRIC\'s financial variables. For this study, we use S-VAR, VEC and Panel Cointegration Models. This last one was used for models with real macroeconomic variables. To draw our conclusions, we also utilize a Heat Index which has been developed by the International Monetary Fund (IMF).This index is a measure of the crisis\' effects intensity on economic variables through time.
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Prado, Marcos Aparecido Rodrigues do. "Os BRICS na perspectiva geopolítica : uma análise cientométrica de 2001 a 2010 /." Marília, 2014. http://hdl.handle.net/11449/113868.
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Orientador: Ely Francina Tannuri de OliveiraBanca: Maria Cláudia Cabrini Gracio
Banca: Adilson Luiz Pinto
Resumo: O mundo contemporâneo dispõe de uma construção geopolítica em que os países de economia emergente têm se destacado na conjunção do poder global. Nesta configuração, um grupo de países se organizou e tem fortalecido sua representação no cenário internacional. Brasil, Rússia, Índia, China e África do Sul são as nações que compartilham das expectativas de um poder global caracterizado pela multipolaridade. Os governos dos quatro primeiros países mencionados articularam a formalização de um bloco geopolítico com relevância estratégica para atuação frente ao cenário internacional. Assim, o bloco BRICS foi constituído como organismo político que visa promover ações consorciadas que abrangem o desenvolvimento econômico, social e estratégico. Em 2001, o acrônimo foi cunhado pelo economista inglês Jim O'Neill como resultado de um estudo que apontou os quatro países mais promissores entre as economias emergentes. Em 2006, deu-se início a um processo de integração política entre os quatro países. O sucesso das periódicas cúpulas governamentais que se seguiram ocasionou à formalização do bloco BRICs no ano de 2009. E, em 2010, ocorreu a iniciativa de expansão do grupo com a adesão da África do Sul como membro efetivo. Desde então, o bloco passou a ser denominado oficialmente como BRICS. É com interesse em tal construção geopolítica que este estudo se baseia na cientomentria para analisar os indicadores econômicos e sociais e suas correlações com os indicadores de produção científica. Desta forma, a pesquisa objetiva levantar e analisar os dados relativos às publicações científicas indexadas na base Scopus dos quatro países que integram o genuíno grupo BRICS, ou seja, Brasil, Rússia, Índia e China. Também, compõe o escopo do estudo a apresentação dos conceitos e aplicações dos indicadores, assim como a identificação das características relevantes do cenário geopolítico e do...
Abstract: The contemporary world has a geopolitical construction in which the emerging market countries have been highlighted in the conjunction of global power. In this configuration, a group of countries was organized and has strengthened its representation in the international scene. Brazil, Russia, India, China and South Africa are the countries that share the expectations of a global power characterized by multipolarity. The governments of the four first mentioned countries articulated the formalization of a geopolitical bloc with strategic relevance for action against the international scene. Thus, the BRICS bloc was formed as a political organization that seeks to promote consorted actions covering economic, social and strategic development. In 2001, the acronym was coined by the english economist Jim O'Neill English as a result of a study that showed the four most promising countries among emerging economies. In 2006 it was begun a process of political integration among the four countries. The success of periodic governmental summits that followed led to the formalization of the BRIC bloc in 2009. And in 2010, the group expanded with the accession of South Africa as a full member. Since then, the block became officially termed as BRICS. It is with interest in such a geopolitical construction that this study is based on scientometry to analyze the economic and social indicators and their correlations with indicators of scientific production. Thus, the research aims to survey and analyze the data on scientific publications indexed in Scopus basis of the four countries that make up the genuine BRICS group, Brazil, Russia, India and China. Also, the scope of the study comprises the presentation of the concepts and applications of indicators as well as the identification of relevant features of the geopolitical scenario and scientific context in which the BRICS are inserted. The method used was the comparative study between indicators raised...
Mestre
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Gaiotto, Felipe Camargo. "Moeda, poder e rivalidade interestatal : o novo banco de desenvolvimento dos BRICS." reponame:Biblioteca Digital de Teses e Dissertações da UFRGS, 2017. http://hdl.handle.net/10183/172457.
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A crise financeira de 2007-2008 proporcionou perdas de legitimidade política e econômica aos EUA no sistema interestatal. Até então, o modelo de organização socioeconômica estadunidense era hegemônico na economia-mundo capitalista. Mas, mais do que um modelo de capitalismo, as desregulações financeiras e a defesa excessiva da austeridade orçamentária para os demais Estados foram adotadas pelos EUA com o objetivo de assegurar a emissão exclusiva da moeda internacional dos sistemas financeiro e monetário internacional. A possível substituição do dólar como fundamento do padrão monetário desses sistemas diminuiria a autonomia relativa dos EUA. Assim, eles mantiveram as vantagens políticas e econômicas propiciadas pelo poder monetário e pelo estadismo monetário e asseguraram a manutenção da configuração hierárquica favorável desse sistema interestatal. Por outro lado, essa crise estimulou a formação de novas alianças geopolíticas e novas relações de cooperação entre Estados localizados na semiperiferia e na periferia da economia-mundo. Esses Estados propõem, em maior ou menor grau, outros modelos de desenvolvimento e procuram mudar a configuração hierárquica interestatal, com uma aposta no multilateralismo. O Novo Banco de Desenvolvimento (NBD) criado pelos BRICS é uma das alternativas que surgiram como possibilidades de reordenamento hierárquico nesse sistema, começando o elo conflito em torno da moeda e das finanças. Desse modo, o objetivo geral desta tese doutoral é avaliar qual a viabilidade de possíveis mudanças nas relações de poder monetário e de estadismo monetário no sistema interestatal capitalista a partir do NBD dos BRICS. Para tanto, analisa-se de que maneira, em geral, a relação entre moeda e poder influencia na hierarquia de Estados e moedas no sistema interestatal da economia-mundo capitalista. Da mesma forma, examina-se especificamente o processo de construção do poder monetário e do estadismo monetário dos Estados Unidos a partir da construção do regime Dólar-Wall Street e de que forma essa estratégia contribuiu, de forma não intencional, para enfraquecer a própria hegemonia estadunidense no pós-crise. E, por fim, avalia-se a capacidade da influência do NBD para a reforma monetária e financeira internacional no sentido de maior multilateralismo. Nesse processo, o NBD representa uma alternativa de acesso a financiamento para a acumulação autônoma de capital e de defesa contra a manipulação monetária e financeira por parte dos Estados do núcleo orgânico desse sistema, em particular os EUA. Da mesma forma, o NBD reforça as demandas para reformar o sistema financeiro e monetário internacional, o que pode alterar a capacidade de exercício do poder monetário estadunidense e suas consequentes vantagens políticas e econômicas. Assim, haveria uma mudança qualitativa na hierarquia desse núcleo orgânico. A possível substituição, ou perda de importância, do dólar diminuiria a autonomia relativa dos EUA e contribuiria para mudanças na configuração hegemônica da economia-mundo capitalista.The financial crisis of 2007-2008 has resulted in loss of political and economic legitimacy to the United States in the inter-state system. Until then, the model of US socioeconomic organization was hegemonic in the capitalist world-economy. Yet, more than a model of capitalism, financial deregulation and excessive apologizing of budgetary austerity for other states were adopted by the United States to ensure the exclusive issuance of the international currency in the international financial and monetary systems. The possible substitution of the dollar as the basis for the monetary standard of these systems would diminish the relative autonomy of the United States. Thus, they keep the political and economic advantages granted by monetary power and monetary statecraft, and ensured the maintenance of the favorable hierarchical configuration of that interstate system. On the other hand, this crisis stimulated the formation of new geopolitical alliances and new relations of cooperation between states located in the semiperiphery and in the periphery of the world-economy. These states propose, to a greater or lesser extent, other models of development, and seek to change the inter-state hierarchical configuration, with a focus on multilateralism. The New Development Bank (NDB) created by the BRICS is one of the alternatives that emerged as a possibility of hierarchical rearrangement in this system, starting with the monetary and financial conflicts. Thus, the general objective of this Ph.D. dissertation is to evaluate the viability of possible changes in the relations of monetary power and monetary statecraft in the capitalist interstate system by the creation of the BRICS’ NDB. In order to do so, it is analyzed how, in general, the relation between money and power influences the hierarchy of states and currencies in the interstate system of the capitalist world-economy. Likewise, the process of constructing monetary power and monetary statescraft in the United States starting with the construction of the Dollar-Wall Street regime, and in which way this strategy has unintentionally contributed to weaken the hegemony itself in the post-crisis period, is equally dealt with. And last, but not least, the capacity of the NDB's influence on the international monetary and financial reform towards greater multilateralism is evaluated. In this process, the NDB represents an alternative to access financing for the autonomous accumulation of capital and defense against monetary and financial manipulation by the States of the organic core of this interstate system, in particular the US. Along the same lines, the NDB reinforces the demands to reform the international financial and monetary systems, which may alter the capacity of the US to exert monetary power and receive its consequent political and economic advantages. Thus, there would be a qualitative change in the hierarchy of this organic core. The possible substitution or loss of importance of the dollar would diminish the relative autonomy of the US and contribute to changes in the hegemonic configuration of the capitalist world-economy.
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Lima, Roland Nubiga. "Sectoral dynamics of financial co-integration between BRICS and developed stock markets." Master's thesis, Faculty of Commerce, 2019. http://hdl.handle.net/11427/30774.
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This study examines the sectoral dynamics of co-integration between the BRICS (Brazil, Russia, India China and South Africa) and developed stock markets, represented by Germany, Japan, the UK and the US, during the four phases of the Global Financial Crisis (GFC), the three phases of the European Sovereign Debt Crisis (ESDC) and the UK Brexit crisis. The sample includes daily sectoral equity indices over the period January 2006 to December 2017. The study applies the ADCC GJRGARCH model to estimate the time-varying correlations across the nine countries within each sector and across sectors within each country, and assesses the conditional correlation dynamics during each of the phases of the three crisis periods. The results support the existence of financial co-integration across sectors and among all the nine countries during the GFC and ESDC. Only developed countries exhibit co-integration during the UK Brexit crisis. While some sectors were less affected during some of the crisis periods, on average, financials were the most affected during the GFC, ESDC and UK Brexit crisis. Further analysis on a crisis phase level reveals that most country pairs and sector pairs exhibit significant increases in conditional correlations in phase two of the GFC and ESDC, limiting the effectiveness of international diversification during this period. The results provide useful insights for policy makers and investors.
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Logday, Ayesha. "Space Debris and the BRICS countries: The role of international Environmental Law." University of Western Cape, 2019. http://hdl.handle.net/11394/7579.
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Magister Legum - LLMEnvironmental Law is at the forefront of the global community and environmental protection and conservation is regarded as of the utmost importance.1 Outer Space is a unique, limited, and valuable resource. Outer space allows states to utilise thousands of satellites for research, national defence, and communications. At the inception of space law, only a few states dominated space activities and all human space activities were so challenging that nearly any method seemed acceptable for placing objects in outer space, currently more countries have space industries and launch capabilities
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Ndione, Mamadou. "Déterminants de la performance des institutions de micro-crédits : UEMOA et BRICS." Thesis, Bourgogne Franche-Comté, 2019. http://www.theses.fr/2019UBFCG001.
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La microfinance est un outil destiné aux pauvres et se définit comme la fourniture de services financiers à une partie de la population exclus du système formel des banques par défaut de garanti pouvant entrainer des risques d'impayés. A cet effet, pour continuer de manière durable leurs activités tout en restant pérennes, les IMF doivent s'assurer une performance économique ou financière tout en respectant leurs objectifs sociaux, c'est-à-dire toucher un maximum de pauvres. Dès lors se posent les questions de la performance économique, financière et sociale des organisations de microcrédit. La performance économique se définit comme la rentabilité de l'actif économique (capitaux propres et dettes financières), la performance financière s'intéresse à la rentabilité des fonds propres alors que la performance sociale s’appréhende en termes de portée de l'offre de crédit. Ces performances sont étudiées à travers des variables qui sont d'ordres économiques et sociaux. La recherche a porté sur l'UEMOA et les BRICS (à l'exception de la Russie), et elle a couvert une période de 16 ans. Les données sont traitées par le logiciel Stata 11 en utilisant l'économétrie en données de Panel. Suite aux différentes régressions, il convient de signaler qu’il existe une corrélation entre la performance sociale et les variables endettements (positive), fonds propres (positive), la qualité de portefeuille (négative) et la performance économique (négative). La performance financière est corrélée positivement avec la clientèle active, le volume d’épargne, et les subventions et elle est corrélée négativement avec le portefeuille à risque et le volume de la dette. La performance économique est corrélée avec la clientèle active (positivement), le volume des subventions (positivement) et le portefeuille à risque (négativement). Suite à ces résultats, des suggestions ont été faites afin de permettre aux IMF d’atteindre les objectifs fixésMicrofinance is a way for helping poor people and it is used to give financial services to a part of the population excluded from formal bank system, short of guarantee that may lead to risk of default. To this end, to continue their activities in a sustainable way the MFI must ensure economic or financial performance while respecting their social objectives to grant loans to the greatest number of poor. In this way, the questions about economical, financial and social performance of microcredit organization are essential. The economic performance is the profitability of economic asset (equity and financial debt); the financial performance focuses on the return on equity, while social performance is understood in terms of supply credit. The research has concerned WAEMU and BRICS (with exception of Russia) during a period of 16 years. The data is processed by the Stata11 software using panel data econometrics. Following the different regressions we get a correlation between social performance and debt variable (positive), equity (positive), portfolio quality (negative) and economic performance (negative).The financial performance is positively correlated with active customers, the saving volume and subsidies and is negatively correlated with portfolio at risk. The economic performance is correlated with the active customers (positively), the volume of subsidies (positively) and the portfolio at risk (negatively). Following these results, suggestions were done to permit MFI to achieve the set objectives
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Gerber, Marcel. "Alternative dispute resolution in the BRICS nations: A comparative labour law perspective." University of the Western Cape, 2019. http://hdl.handle.net/11394/6996.
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Magister Legum - LLMAlternative dispute resolution refers to forms of dispute resolution, other than traditional and formal court based litigation. A notable benefit of alternative dispute resolution is that different processes are available for resolving a particular dispute in the most effective and efficient manner possible. Alternative dispute resolution includes but is not limited to arbitration, mediation, negotiation, conciliation and facilitation. The Constitution of the Republic of South Africa, 1996, lists human dignity, equality and the advancement of human rights and freedoms as the founding values of the Republic of South Africa. In terms of section 9(1) of the Constitution everyone is regarded as equal before the law and has the right to equal protection and benefit of the law in South Africa. Often it is however argued that traditional court based litigation hinders the full enjoyment of these rights by individuals. Consequently, alternative dispute resolution is attractive as an alternative to court based litigation as it is regarded as less expensive, more time effective and results in less conflict when it comes to resolving disputes in the most accessible, effective and efficient manner possible, in both developed and developing countries. The study will first focus on the pitfalls to traditional court based litigation in South Africa. The relevant legislation and processes which provide for alternative dispute resolution processes in South Africa, with specific focus on alternative dispute resolution in labour disputes, will be considered. Consideration will be given to the provision of alternative dispute resolution as contained in the Constitution, the Labour Relations Act 66 of 1995, the Rules for the Conduct of Proceedings before the CCMA of 2003 and the Arbitration Act 42 of 1965. The study will thereafter proceed to consider the use of alternative dispute resolution in labour disputes in Brazil, Russia, India and China, who, together with South Africa, are collectively referred to as BRICS. These five nations are considered the world’s leading emerging economies, with similar economic capabilities and demographics.
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Msoni, Malindi. "The impact of quantitative easing on capital flows to the BRICS economies." University of the Western Cape, 2018. http://hdl.handle.net/11394/6475.
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Magister Economicae - MEconA possible effect of quantitative easing (QE) undertaken by the United States of America (USA) Federal Reserve Bank (Fed) may have been an increase in capital flowing into emerging market economies (EMEs). The 2008 global financial crisis created an environment in which traditional monetary policies – cutting policy rates – became ineffective in stimulating growth. Faced with this policy environment, several high-income countries including the USA resorted to unconventional monetary policies notably QE, to grow their economies. While QE was effective in lowering interest rates in high-income countries, some argued that investors switched to higher yielding assets, mostly EME assets. Therefore, QE is perceived to have increased capital flows into EMEs. Using a dynamic panel data model with fixed effects this mini-thesis investigates empirically whether QE worked through unobservable channels to increase gross private capital inflows to Brazil, Russia, India, China and South Africa (BRICS) in the period 2000-2015. The study finds evidence in support of the view that QE increased capital inflows to EMEs. The results reveal that gross private capital inflows to the BRICS increased during the QE intervention period and that the increase was higher in the first period of QE than in subsequent QE periods. The empirical results also reveal differences in the way types of capital flows responded to QE; portfolio flows, and in particular equity flows were the most responsive to QE.
2018-12-14
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Mukherjee, S. (Shreya). "The efficiency of foreign exchange markets in emerging economies:evidence in BRICS countries." Master's thesis, University of Oulu, 2018. http://urn.fi/URN:NBN:fi:oulu-201811283117.
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This thesis investigates whether the foreign exchange markets are efficient in the emerging economies. The emerging economies include Brazil, China, India, Russia, and South Africa. The motivation behind this research is to provide an insight to the investor whether it is a worthwhile decision to invest in the foreign exchange markets. In order to prove the efficiency of the foreign exchange markets, three hypotheses were tested — the uncovered interest rate parity (UIP) condition, the unbiased forward rate hypothesis (UFH)/rational expectations hypothesis (REH) and the efficient market hypothesis (EMH).
The examination is performed using various econometric tools. These include the OLS, VAR, VECM and the Johansen cointegration test. The time-series data used for this research was obtained from the Thompson Reuters Datastream, the website of Federal Reserve Bank of St. Louis (FRED) and the website of the Organization for Economic Co-operation and Development (OECD). The time period for this research was from 31st March 2004 to 30th April 2018.
We find that the UIP condition does not hold for any of the BRICS countries. The forward rates are not the unbiased predictors of the spot rate for any of the BRICS countries. The spot and forward rates were cointegrated for the Brazilian real, the Chinese yuan and the Russian ruble. Whereas, the spot and forward rates were not cointegrated for the Indian rupee and the South African rand. The rate of depreciation and the forward rate premium for India and South Africa are cointegrated but the same for the Chinese yuan are not cointegrated.
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Benavides, Cortés Francisca Javiera, and Mauro Fancisca Javiera Reyes. "Análisis de estrategias de sustentabilidad medioambiental para empresas relacionadas a las industrias de extracción y procesamiento de recursos naturales de países pertenecientes al BRICS." Tesis, Universidad de Chile, 2013. http://www.repositorio.uchile.cl/handle/2250/114998.
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Seminario para optar al grado de Ingeniero Comercial, Mención AdministraciónHace más de 3 décadas un grupo de científicos informaba al mundo la devastadora responsabilidad que ha tenido el hombre en los procesos asociados al cambio climático. El aumento de las temperaturas y los cambios en la biodiversidad, provocados por la emisión CO2, han despertado el interés no solo de ambientalistas sino también de las organizaciones, tanto públicas como privadas, de generar estrategias que permitan no solo garantizar el uso de estos recursos para las actuales generaciones, sino también para las futuras. Por otro lado, la importancia que han adquirido los países del BRICS durante las últimas décadas y sus altas tasas de crecimiento económico obliga al mundo a preguntarse a qué costo se está generando este desarrollo. El objetivo del presente estudio se basa en determinar si todas las empresas abordan de igual manera las temáticas medioambientales o depende del nivel de desarrollo económico presente en cada uno de estos países. Por otro lado, el análisis se centra en las industrias de extracción y procesamiento de recursos naturales, lo cual permitirá determinar si, a su vez, existen diferencias dentro de estas industrias al momento de establecer las estrategias de sustentabilidad que tendrá cada una de las empresas pertenecientes a los países del BRICS. Para esto, se realiza un estudio cualitativo de análisis de contenido de respuesta que permite comparar las estrategias de sustentabilidad presentes en la encuesta desarrollada por “Carbon Disclosure Project” (CDP), la cual para el año 2010 recopiló información asociada al desempeño medioambiental de 1505 empresas de todo el mundo. Los principales resultados obtenidos en este estudio señalan que a pesar de que temas como la emisión de gases efecto invernadero o la optimización de procesos son comunes para países pertenecientes al BRICS como aquellos desarrollados, estos últimos centran sus preocupaciones en el desempeño corporativo a nivel mundial, plasmando estos temas en sus estrategias de sustentabilidad. Por otro lado, el estudio releva que existen diferencias en las estrategias de sustentabilidad dependiendo del tipo de industria que predomine en el país. Por ejemplo, para el caso de Brasil, el cual es el mayor productor de energía de los denominados países del BRICS, centra sus preocupaciones medioambientales en tópicos como la eficiencia energética y el uso de energía renovables en sus procesos. Es relevante recordar la importancia que tiene el presente estudio, debido a que éste permite generar hipótesis a utilizar en un próximo estudio con características cuantitativas, el cual permita determinar si los resultados obtenidos para estos países se extrapolan a todos los sectores de la economía, integrando así a China al análisis.
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Valjalo, Tamsin Farren. "Is South Africa worthy of it's Bric in Brics?" Diss., 2018. http://hdl.handle.net/10500/25547.
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'BRIC' is an acronym created by Jim O’Neil to describe some of the world’s leading emergingeconomies, namely Brazil, Russia, India, and China. During 2010, the members of the group included South Africa and 'BRIC' was renamed 'BRICS'. The primary objective of this study was to investigate whether South Africa should be included in BRICS, taking into account that the country represents the whole of Africa. Data was collected by means of self- administered questionnaires and face-to-face semi-structured interviews. The results suggest that South Africa should be included in BRICS as it is depicted as the regional leader and gateway to the continent. This is demonstrated by its global economic prominence especially through multilateral organisations such
as SADC, AU, and it is the only African country in the G20. It is recommended that South Africa should work together with other African countries and encourage their inclusion in achieving common economic goals.Business Management
M. Com. (Business Management)