A Comparative Analysis of BRICS Economies with Special Reference to Institutional Environment

Ms. Shilpa Garg

doi:https://doi.org/10.17492/focus.v3i2.7871

Submit Manuscript Login / Register Subscribe

Home Page

Editorial Advisory Board

Mission, Aims & Scope

Current Issue

A Comparative Analysis of BRICS Economies with Special Reference to Institutional Environment

Shilpa Garg

Vol 3, Issue 2, July - December 2016 | Pages: 116-134 | Research Paper

Article has been added to the cart.View Cart (0)

https://doi.org/10.17492/focus.v3i2.7871

Published Online: December 03, 2016

Author Details ( * ) denotes Corresponding author

1. * Shilpa Garg, Ph. D. research scholar, Department of Commerce, Delhi School of Economics, University of Delhi, Delhi, India (shilpa9711@yahoo.com)

This paper attempts a systematic analysis of BRICS economies in terms of their demographic features, economic characteristics, FDI and institutional environment. The analysis shows the availability of large markets, labour forces, skilled workforce, but lack of proper institutional framework in BRICS. We also find that though the improvements in institutions and governance have lagged in these countries, it does not seem to hinder the growth of FDI in these economies. This is because a large amount of FDI coming into BRICS economies is mainly market-seeking and resource-seeking.

Keywords

BRICS; Culture; Demography; FDI; Freedom; Institutions

Global Competitiveness Reports (GCR), World Economic Forum.
Hofstede, G. (2001). Culture's consequences: Comparing values, behaviors, institutions and organizations across nations (2nd ed.). Thousand Oaks, CA: Sage Publications.
Hofstede, G., Hofstede, G. J., & Minkov, M. (2010). Cultures and organizations: Software for the mind. revised and expanded (3rd ed.). New York, NY: McGraw-Hill.
I. M. F. (1999). World Economic Outlook.
I. M. F. (2014). World Economic Outlook. Recovery strengthens, remains uneven.
IMF-Working Group of Capital Markets Consultative Group (CMCG), (2003). Foreign direct investment in emerging market countries. Retrieved from http://www.imf.org/external/np/cmcg/2003/eng/091803.pdf
Index of Economic Freedom (IEF). The Heritage Foundation and the Wall Street Journal. Retrieved from https://en.wikipedia.org/wiki/Index_of_Economic_Freedom
Kaufmann, D., Kraay, A., & Mastruzzi, M. (2009). Governance matters VIII: Aggregate and individual governance indicators. Policy Research Working Paper, 4978.
Noeth, B., & Sengupta, R. (2012). Emerging markets: a source of and destination for capital. The Regional Economist, 20(1): 10-12.
Sachs, G. (2003). Dreaming with BRICs: The path to 2050. Global Economics Paper, 99(1): 1-23.
UNCTAD statistics. Retrieved from http://unctad.org/en/Pages/Statistics.aspx
Website of Central Intelligence Agency (CIA). Retrieved from: https://www.cia.gov/library/publications/the-world-factbook/geos/xx.html
World Factbook, Central Intelligence Agency. Retrieved from https://www.cia.gov/library/publications/the-world-factbook/fields/2100.html#xx
World Governance Indicators. Retrieved from http://info.worldbank.org/governance/wgi/index.aspx#home.