Abstract
<p class="zhengwen"><span lang="EN-GB">The present study begins by surveying broadly supports the assertion that regional integration in the case of the BRICS is not adequately paid attention except with very few original or significant contributions. This research examines the existing pattern in the areas of trade and investment with a view to locate in the development context. It was also essential to make a theoretical investigation on literature of trade along with the empirical one. The survey broadly supports the frequent, through usually undocumented, assertion that BRICS was an area had tended to neglect and to which they had made few if any original or significant contributions. Alongside, this study panel data on BRICSs, where the results confirm that foreign direct investment (FDI), trade and economic growth indicate the presence of long-run sustainable equilibrium relationship between them. It is thus important that policymakers to remove obstacles to FDI inflows and improve the respective absorptive capacity in order to reap maximize positive growth effects. This study also discussed that how China performed well through attracting FDI inflows and maintained trade balance. </span></p>
Highlights
As an emerging regional block the BRICS (Brazil, Russia, India, China and South Africa) play a significant role through acquiring the technological capacity and internalize capability to exploit resources, develop infrastructure, and reduce the gap between demand and supply through improving production capacity and the distribution networks with the principles of collective self-reliance at the South-South level
As international consumption and international production has been shifted to emerging economies (BRIC), Multinational companies (MNC) are increasingly investing in these countries
Continued inflows of foreign direct investment (FDI), which testify to the foreign investor community’s long-term confidence in the BRIC economies and which provide those countries with a measure of insulation from the global credit crunch
Summary
As an emerging regional block the BRICS (Brazil, Russia, India, China and South Africa) play a significant role through acquiring the technological capacity and internalize capability to exploit resources, develop infrastructure, and reduce the gap between demand and supply through improving production capacity and the distribution networks with the principles of collective self-reliance at the South-South level. BRICS economies are more stable with high growth rates, economic potential and demographic development, and intensified economic cooperation linkages with other developing countries with regard to trade and financial flows and as emerging donors. The existing literature includes a number of surveys, case studies, and some empirical studies formulated cross sectional analysis and found a set of explanatory variables that determine FDI, trade and growth of into BRICS. Some earlier studies investigated the relationship among FDI, trade and economic growth for transition economies and developing economies as well as for groups like ASEAN and European Union. The available research literature pertaining to BRICS countries is still limited In this context, our study intends to examine the role FDI flows and trade on economic growth in the context of BRICS by employing long recent data.
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