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This study seeks to test the validity of the Marshall–Lerner (M-L) condition between Egypt and BRICS countries (five countries: Brazil, Russia, India, China, and South Africa) to determine which industries will benefit from depreciation in the long run by employing the import and export models between Egypt and the BRICS countries at the bilateral and commodity levels by selecting 69 commodities according to the harmonized system (H.S.) 2-digits—these commodities represent a significant portion of Egypt–BRICS trade—and applying the autoregressive distributed lag (ARDL) bounds test over 2001–2022. The results indicate that the M-L condition is not met at the bilateral trade level. At the commodity level, the M-L condition is held only in 8 out of 69 industries. Egypt has a comparative advantage in five of these eight industries—coded 17, 32, 55, 62, and 96—while 71, 79, and 84 have a comparative disadvantage. However, all these industries' sizes, reflected by their trade share in 2022, are small. The paper builds on previous theoretical and empirical work in this field and fills a knowledge gap by examining the M-L condition in Egypt–BRICS trade. Moreover, addressing aggregation bias through disaggregated analysis—at the bilateral level as well as at the commodity level—the study results may motivate the government and policymakers to ask for more consideration of the structure of Egypt's exports and imports with BRICS countries to capture the benefits of devaluation and joining the BRICS bloc and provide comprehensive backing for the industries where the M-L condition was met. [ABSTRACT FROM AUTHOR]

This paper explores specific technical dimensions of a Global South Air Transport Belt concept, emphasizing international air transport's pivotal role in fostering global trade, stimulating tourism, promoting people-to-people exchange, and enhancing supply chain efficiency. A notable disparity exists between the air transport infrastructures of the Global North and the Global South. Furthermore, the Carbon Offset Scheme for International Aviation poses an obstacle to the air transport advancement in developing nations. This market-based initiative, designed to cap aviation emissions from 2020, has the potential to impede the actual international network connections expansion in developing countries. As an alternative, this paper advocates for the adoption of operational measures, the utilization of sustainable aviation fuels, and the implementation of technological advancements. This strategy aligns with the United Nations' Sustainable Development Goals. The paper highlights the potential for sustainable development through the air transport infrastructure expansion in developing countries, focusing particularly on the BRICS nations. Creating a cohesive Global South Air Transport Belt will facilitate the growth of tourism and foster economic development across the participating nations. Such an initiative seeks a sustainable pathway toward inclusive economic growth and social progress for humanity. • Introduction of the Global South Air Transport Belt (GSATB) concept to stimulate trade, tourism, and economic growth in the Global South. • Analysis of the disparity between air transport infrastructures in the Global North and Global South, stressing the need for development in the latter. • Advocacy for operational measures, sustainable aviation fuels, and technological advancements over market-based initiatives like CORSIA, aligning with the UN's Sustainable Development Goals. • Discussion on the underutilized potential of air transport to boost bilateral trade among BRICS countries, highlighting infrastructural and policy constraints. • Strategic policy suggestions such as preferential visa regimes, workforce training, and technology transfer to enhance air connectivity and tourism within the Global South. [ABSTRACT FROM AUTHOR]

This research paper explores the relationship between economic complexity and environmental degradation by highlighting the moderating role of income level. The paper focuses on the BRICS member economies "Brazil, Russia, India, China, South Africa" and utilizes data for the period 1998–2022. Several suitable econometric estimators such as "Fixed Effects (FE)", "Feasible Generalized Least Squares (FGSL)", and "Two Stages Least Squares (2SLS)" are used to obtain results. The main findings show that economic complexity degrades the quality of the environment significantly. However, the results further indicated that income level helps the economic complexity to improve environmental quality. Moreover, the results also revealed that trade openness, income level, and energy use have also significantly degraded the quality of the environment. The causality analysis performed demonstrated a one-way causal relationship running from economic complexity to environmental degradation. Our results have important policy implications for the policymakers of the BRICS economies. [ABSTRACT FROM AUTHOR]

This article examines the global economic shift away from US dollar dominance, focusing on the rise of the Chinese yuan and de-dollarization efforts, particularly by Russia and BRICS nations (Brazil, Russia, India, China, and South Africa). The study explores the dollar's dominance since World War II and challenges it faced, including the Nixon Shock in 1971. The study's significance is in investigating current de-dollarization trends, BRICS formation and implications, and their profound effects on the global economic ecosystem. The objective is to provide insights for policymakers, economists, businesses, and investors navigating an evolving international monetary landscape. The article explores the multifaceted process of de-dollarization, emphasizing the strategic shift away from the US dollar in international trade and finance. It analyzes challenges like time constraints, contractual obligations, and establishing financial infrastructure for transitioning to alternative currencies. Furthermore, the study discusses the formation of a proposed BRICS currency as a potential challenge to the dollar's supremacy. The benefits and drawbacks of de-dollarization are explored, highlighting the potential impacts on global trade, national economies, and startups. Finally, it is important to emphasize the strategic advantages and risks of de-dollarization and advocate a well-calibrated approach to navigating the complexities of reshaping the global monetary landscape. [ABSTRACT FROM AUTHOR]

Purpose: This study attempts to assess the role that institutional quality (IQ) plays in influencing inflows and outflows of Foreign Direct Investment (FDI) for BRICS nations as burgeoning FDI is flowing into and out of these countries. Moreover, this paper explores the impact of individual governance indicators separately on the FDI flows. Design/methodology/approach: The study analyses this nexus for these emerging economies for the period 1996–2019 using autoregressive distributed lag technique. Findings: The study indicates a significant and positive coefficient for IQ in India and South Africa, suggesting that improving IQ would enhance the IFDI. However, for outward FDI (OFDI)–IQ linkage, the results show a negatively significant impact of IQ on OFDI for Brazil and Russia. Additionally, the authors observe control of corruption as a significant institutional component for attracting inward FDI for Brazil, India and South Africa, whereas it is an insignificant factor for Russia and China. Further, the authors notably find that upgrading the governance indicators will decrease the level of OFDI for Brazil, Russia, China and South Africa. On the contrary, findings suggest that improving the IQ will foster the OFDI for India. Originality/value: This study uses time-series analysis instead of cross-country analysis (used extensively in literature), avoiding heterogeneity. Further, this study explores the IFDI–IQ link for BRICS nations, which are captivating a significant chunk of IFDI, and still not given much attention in the extant literature. Moreover, the authors identify the impact of IQ on the OFDI, neglected by the existing studies. [ABSTRACT FROM AUTHOR]

The study gauges the research performance of the BRICS bloc in the field of Library and Information Science (LIS) research using Performance analysis and Science mapping. The Web of Science database is used for the study and articles published between 2013 and 2022 have been selected for analysis. Data analysis and visualisation have been done using the Bibliometrix R package and VOSviewer. The findings reveal an upward trend in publications. Furthermore, China has been the most prolific nation in terms of productivity and impact. Scientometrics is the leading source in terms of publications while the International Journal of Information Management is the most cited source. With regard to author productivity, Zhang Y has the highest number of publications while Lowry PB is the most cited author. Wuhan University is the most productive organization. In terms of collaboration, the USA is the primary partner for the entire BRICS group, particularly China and collaboration among the BRICS isn't as significant as it is with the non-BRICS countries. This study provides insightful information about recent scientific developments in the field of LIS. Additionally, by using this research as a guide, researchers from different fields will be able to analyse how the body of knowledge on a certain subject has evolved over time. This study also outlines potential research directions in this field of research. [ABSTRACT FROM AUTHOR]

This study innovatively combines the structural vector autoregression model with a novel frequency connectedness approach to explore the dynamic connectedness between heterogeneous oil price shocks and inflation across both developed and emerging economies. By investigating the connectedness relationship between oil shocks and inflation from the G7 (Group of Seven countries) and BRICS (Brazil, Russia, India, China, and South Africa) countries, our findings reveal a significantly dynamic heterogeneous oil–inflation nexus. Firstly, our analysis reveals that oil supply shocks predominantly serve as receivers of inflation, whereas aggregate demand and oil-specific demand shocks primarily act as transmitters. Additionally, the connectedness between oil price shocks and inflation is mainly driven by long-term factors and exhibits notable time-varying characteristics, with significant increases in connectedness strength observed during periods of oil and financial crises. Lastly, our study shows that developed economies are more inclined to transmit shocks to the global crude oil market, while their vulnerability to external shocks from the international crude oil market is markedly heightened by greater resource dependence and a lack of self-sufficiency. This study not only provides a new perspective on understanding the intricate relationship between oil price shocks and inflation but also offers a crucial theoretical framework and empirical evidence to assist policymakers and investors in navigating the fluctuations of the global energy market. [ABSTRACT FROM AUTHOR]

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The unwavering adverse effects of global warming continue to threaten the sustainability of the ecosystem and peaceful human coexistence. Efforts to resolve this ecological matter promulgate the interest in green policies, which the extant studies are yet to explore fully. Consequently, this study provides the first empirical evidence on the roles of green policies vectoring, green energy, green finance, and green innovation amidst eco-digitalization and urbanization on environmental sustainability captured by CO2 emissions, ecological footprint, and PM2.5 air pollutions in BRICS countries from 1995 to 2019. The study relies on the STIRPAT framework alongside second-generation estimators in providing the empirical evidence. Findings indicate that green energy, green finance, green innovation, and eco-digitalization promote environmental sustainability by reducing CO2 emissions, ecological footprint, and PM2.5 air pollutions. Conversely, urbanization and affluence deter environmental sustainability due to their inducing effects the highlighted pollutants. The distributional analysis based on quantile regression and country-level estimation based on fully modified ordinary least squares technique accentuates the empirical regularity of the main findings. Besides, the Granger causality reveals the presence of bidirectional and unidirectional causality relationships in the estimated model. Based on the findings, feasible policies that enhance sustainability of the BRICS environment are formulated. [ABSTRACT FROM AUTHOR]

This study aims to analyze the expected impacts of Saudi Arabia's accession to the BRICS bloc, which is intergovernmental organization comprising Brazil, Russia, India, China, and South Africa. By analyzing the intra-trade flows of Saudi Arabia with the BRICS countries from the implementation of the bloc until 2023 and measuring the impact of Saudi exports and imports with BRICS on the balance of merchandise trade, and to discuss the extent of the impact of the net intra-trade situation of Saudi Arabia with BRICS on the balance of merchandise trade. The most prominent Saudi export sectors were diagnosed, and their corresponding customs tariff averages in the BRICS countries were analyzed to determine the expected effects of implementing a regional trade agreement (RTA) between the BRICS bloc. The study is based on the ARDL model and Saudi data from (2003-2022), using three models by applying on exports, imports, and trade balance of Saudi Arabia, the findings suggests that there is no significant relationship between Saudi Arabia's trade balance on the one hand, and exports, imports and the trade balance with BRICS on the other hand, which reduces the impact of Saudi Arabia's accession to BRICS on Saudi exports. which requires further negotiation of mutual obligations and potential gains between the member states of BRICS. [ABSTRACT FROM AUTHOR]

Copyright of Analyses de Population & Avenir is the property of Population & Avenir and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Journal of Selçuk University Social Sciences Vocational School is the property of Journal of Selcuk University Social Sciences Vocational School and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This study examines the short- and medium-run dependence structures across carbon emissions prices, commodity futures, equity prices, and geopolitical uncertainty in the case of the BRICS countries. Previous studies have focused on the co-movement between commodity futures and equity prices, with a few attempts at capturing the economic uncertainty in that relationship but failed to look at the broader context of both emission prices and geopolitical uncertainty. This study employs the spillover index developed by Diebold and Yilmaz and data spaning from January 3, 2008, to October 31, 2021 to identify the dependence structure across ETS, commodity futures, equity prices, and geopolitical uncertainty (GPR). Our key findings suggest that the contribution of the MOEX Russia Index to the natural gas prices return is the highest. As the ETS is concerned, the GPR of China plays the most crucial role compared to other BRICS countries. Comparing energy commodities (e.g. ETS and natural gas), the net pairwise spillover effects of oil to metal commodities are more evident. Among the GPRs of BRICS countries, China, India, Russia, and Brazil have a positive net pairwise directional connectedness transmitted to South Africa. For stakholders working in commodity trading, the insights obtained from this research is essential for developing strategies that lessen the effects of geopolitical risks and help in promoting more resilient and stable commodity markets. [ABSTRACT FROM AUTHOR]

The present empirical analysis takes into account a panel of BRICS data between 2000 and 2022 to probe the influence and the extent of digitalization (DIG), economic growth (GDP), governance (GOV), and renewable energy (RE) with PM2.5 air pollution in BRICS. Under the examination, the panel is investigated for numerous diagnostic tests where we confirmed a long-run co-integration among the studied variables. The econometric technique of the Method of Moment Quantile Regression (MMQREG) analysis supports that GDP is inimical, conversely, digitalization (DIG), renewable energy (RE), and effective governance (GOV) illustrate heterogeneous influences on PM2.5 air pollution. Moreover, the robustness test of the Robust Least Square (RLS) Fully-Modified (OLS), and Dynamic (OLS) confirms and validates the prior outcomes of the Method of Moment Quantile Regression (MMQREG) method. The results indicate that, with the exception of GDP, the explanatory factors effectively reduce PM2.5 air pollution in BRICS countries. Based on these findings, it is suggested that the BRICS member state should give top priority to the development of green and sustainable energy and enhance digitalization (DIG) by importing high-tech solutions. This approach would alleviate the burden on environmental quality. Additionally, the presence of effective governance will play a crucial role in coordinating various institutions, thereby maximizing the benefits derived from the deployment of renewable energy sources. Highlights: The correlation term of effective governance is developed in the growth-PM2.5 air pollution. Ineffective governance weakens the association between economic growth and PM2.5 air pollution. FMOLS DOLS methods were utilized. Overall we propose that effective governance, renewable energy, and adaptation of digitalization reduce PM2.5 air pollution. [ABSTRACT FROM AUTHOR]

Climatic variations, gradual rise in average global temperature, and environmental degradation are imperative global concerns for advanced and emerging economies. Further, anthropogenic activities (especially producing and consuming goods/services) remain highly accountable for almost all environmental concerns. In this scenario, green production practice is an approach to escalate economic growth in consort with confronting environmental issues. However, the existing literature ignores whether green production practices effectively upsurge both economic growth and environmental quality. Considering this indispensable research lacuna, the current study probes green production practices' impact on green growth. To this end, a panel dataset from 1994 to 2020 for BRICS countries is adopted. The results document that green production practices significantly contribute to long-term green growth. According to the findings from the sensitivity analysis, the strong positive impact of green production practices remains consistent. This highlighted the significance of switching from conventional industrial practices to green production practices. The findings suggest policymakers to invest in modern green production practices. We also suggest adopting tools such as green financing, technological advancement, and research & development to increase the volume of green production practices. [ABSTRACT FROM AUTHOR]

Our investigation, bolstered by the robust gravity trade model and panel data econometric technique, underscores the pivotal factors that influence trade interactions between Saudi Arabia and the BRICS nations—Brazil, Russia, India, China, and South Africa. The study, spanning from 1998 to 2023, delves into key economic metrics such as the gross domestic product, exchange rate fluctuations, inflationary trends, political conditions, and trade deals. We employ a range of econometric strategies, including pooled Ordinary Least Squares (OLS) and fixed effects models, to reveal that the GDP of BRICS states consistently and significantly impacts trade volumes. Specifically, a 1% increase in the GDP of partner countries correlates with a 0.37% rise in trade volume within the pooled OLS model. This effect amplifies to 1.43% when adjusting for temporal and country-specific factors in the fixed effects, underscoring the importance of accommodating unobserved heterogeneity, which refers to the unmeasured factors that can influence the relationship between GDP and trade volume. The political stability of BRICS nations mitigates transactional risks and promotes more stable trade relationships, thereby enhancing trade flows. Fluctuations in exchange rates exert positive and significant effects. This indicates that a more robust Saudi Riyal, an essential policy instrument, can enhance trade by increasing the competitiveness of Saudi exports. This study demonstrates that economic magnitude, political stability, and exchange rates affect Saudi Arabia's trade with BRICS nations. These results bolster the Kingdom's Vision 2030 objectives for economic diversification. This research advocates for stable political climates and strategic trade agreements to enhance trade relations. This study asserts that this approach will guarantee sustainable growth and diminish the Kingdom's reliance on oil exports, instilling optimism in the Saudi economy. [ABSTRACT FROM AUTHOR]

The continuous rise in global economic growth (EG) and human activities has contributed to the release of CO2, emphasizing the crucial role of environmental policy stringency (EPS) in encouraging green innovation to lower CO2 emissions levels and achieve environmental sustainability. This study aims to analyze the direct impacts of geopolitical risk (GPR), renewable energy consumption (RE), EPS, green technical innovation, and EG on CO2 emissions in Brazil Russia, India, China, and South Africa (BRICS) economies on the dataset spanning from 1990 to 2020 using dynamic ordinary least square, fully modified ordinary least square, and method of moment quantile regression approach. The results demonstrate that stringent environmental regulations and the adoption of green technology are negatively associated with CO2 emissions. Further, the interaction of INV*EPS also demonstrates a negative impact on CO2 emission. In contrast, GPR and EG have a positive effect on CO2 emissions. These findings suggest that it is imperative for the policymakers of BRICS economies to implement measures that effectively encourage the adoption of green innovative technologies through the adoption of robust policy initiatives. In general conclusion, the long‐term viability depends on the implementation of green innovations by enacting strict environmental regulations in the sample countries. Based on these findings study suggests that there is a need to prioritize the consumption of renewable energy sources, the adoption of rigorous environmental regulations, and the utilization of climate‐friendly technology to attain extensive and sustainable economic development. Furthermore, this study urges the attention of government officials and policymakers in these economies to redesign more effective strategies to address these potential challenges and safeguard the environment. [ABSTRACT FROM AUTHOR]

AbstractFreezing or the danger of freezing the assets of many countries can make the run away from the US dollar an uncontrolled process. Whereas in the long term this process may be beneficial for the US and the world economy, the short- and medium-term adjustment costs can be extremely high. To ensure a soft landing the New Development Bank of BRICS countries can issue bonds that would be sold to countries, whose assets have been frozen or are afraid that they might be frozen by the West, so that they can store their foreign exchange reserves in these bonds. The Bank will invest the proceeds from the sale of these bonds in the traditional financial instruments for storing foreign exchange reserves—US and EU treasury bills and bonds denominated in the same dollars and euros. These BRICS bonds would be less prone to sanctions and thus considered safe investment. [ABSTRACT FROM AUTHOR]

The significance of democratic commitment is highlighted on a global scale by the importance placed on offering a multitude of chances to establish enduring ecosystems and foster economic progress. Social finance, capital formation, and green finance have recently received a lot of attention from this perspective. Past studies mainly examined social finance and green finance in isolation. When investigating the individual impact of these important variables on economic growth in the occurrence of important events like the COVID-19 pandemic and other environmental pollution issues, most studies have mainly focused on developed countries, ultimately ignoring the different dynamics in emerging economies. The purpose of the research is to investigate the joint interaction between social finance (Social Impact Bonds), capital formation, and green finance (green loans, green investments, and green security) on economic development in BRICS economies. This research employed a longitudinal dataset from 2013 to 2023. The generalized method of moments (GMM) and fixed effect model (FEM) were employed in this research as statistical techniques for estimating parameters. The findings of this study revealed a positive joint relationship between green finance, capital formation, and social financing on economic development of BRICS economies. Therefore, measures that jointly promote social and green finance amidst environmental challenges or economic risks could present opportunities to mitigate the vulnerability of a country's economic prosperity. This research will surely guide policymakers in developing economies on how to give considerable attention to sustainable aspects while formulating policies and strategies aimed at economic development. [ABSTRACT FROM AUTHOR]

BRICS countries' recent investments in technology have attracted attention, and they have become a part of the nations that conduct research around the world. The European Innovation Scoreboard (EIS), accepted as an effective benchmarking tool for technology policies, provides a comparative analysis of the innovation performances of many countries, including BRICS. In the current research, the innovation performances of BRICS countries were compared through EIS data, one of the most adopted benchmarking tools in technology policy discussions. Thus, it was aimed to determine the importance levels of the criteria used in the EIS data and to analyze the innovation processes of the countries in question. In this study, an integrated framework using CRiteria Importance Through Intercriteria Correlation (CRITIC) and Grey Relational Analysis (GRA) methods is presented to compare the innovation performances of BRICS countries. In the first stage of the application, the importance levels of the criteria are obtained using the CRITIC method, while in the second stage, countries are ranked according to their innovation performance through GRA. Data are obtained by compiling statistics from the EIS database created by the Commission of the European Communities. The results obtained in the practical application of the model rank the criteria according to their weights as follows: higher education (0.249), international joint publications (0.176), medium and high technology exports (0.122), frequently cited publications (0.113), PCT patents (0.094), public-private joint publications (0.085), designs (0.083) and trademarks (0.078). In addition, the BRICS countries are ranked according to their innovation performance as China (0.76), Russia (0.6), South Africa (0.516), Brazil (0.426), and India (0.378). [ABSTRACT FROM AUTHOR]

Background and Objective: The global incidence of interstitial lung disease (ILD) has risen over the past few decades. However, few studies have evaluated the status and incidence trends of ILD in Brazil, Russia, India, China and South Africa (BRICS). This study assesses the trends of ILD incidence across the BRICS with an emphasis on ILD changes from 1990 to 2019. Methods: Incidence rates were estimated by the data obtained from the Global Burden of Disease Study 2019 (GBD 2019). Age‐period‐cohort modelling was used to estimate the effects on ILD from 1990 to 2019, and the net drift and local drift were calculated. Results: In 2019, a total of 11.4 million cases of ILD were reported in the BRICS countries. From 1990 to 2019, the incidence rate of ILD in BRICS showed an upward trend. India consistently reported the highest incidence rate, while China showed the fastest growth rate (107.6%). Russia reported a similar incidence rates for men and women, with a lower age of peak incidence compared to the other four countries. We found the time effect was unfavourable for BRICS in the first decade, especially for Brazil; in China and Brazil, the risk of people born after 1960 has rapidly decreased. Conclusion: ILD shows a rising incidence in BRICS. with the trends varying based on age and other environmental factors. BRICS should strengthen specific public health approaches and policies for different stages and populations. [ABSTRACT FROM AUTHOR]

Purpose: Considering the dynamic influence of environmental, social, economic, and political factors in the emergence and growth of the BRICS countries (Brazil, Russia, India, China, and South Africa) over the years and pre-existing differences, the adverse effects of air pollution on the health and well-being of the people have remained major areas of academic inquiry and policy interventions. The present study examines the global trend of deaths and Disability Adjusted Life Years (DALYs) attributable to air pollution with particular reference to the BRICS countries for the period 1990 to 2019. Methods: This study has used the global burden of disease estimates by using different rounds of the Global Burden of Disease (GBD) study report published by the Institute of Health Metrics Evaluation. This study has calculated the cause of death and DALYs due to environmental risk factors (i.e. Air pollution). Data analysis has been done by using the standard formula for the calculation of death (mortality) rate and DALYs rate. Similarly, we calculated the age and gender-wise death and DALYs rate by using the appropriate numerator and denominator. Results: The study discovered a significant shift in disease patterns over this period, as communicable diseases like respiratory infections and tuberculosis were replaced by non-communicable diseases such as ischemic heart disease (17.2 million), chronic obstructive pulmonary disease (14.59 million), and stroke (17.02 million) as the primary causes of air pollution-related deaths in 2019 at the global level. Additionally, the study identified a worrying increase in deaths linked to neonatal disorders and respiratory infections caused by ambient particulate matter pollution in South Africa, India, and Brazil. The impact of air pollution on public health is evident across different age groups and genders, with people aged 50-69 years, those aged 70 and above, and children under 5 years being more vulnerable. Furthermore, the male population is disproportionately affected by communicable and noncommunicable diseases caused by air pollution. Conclusion: The study highlights the need for policymakers to implement evidence-based interventions to tackle this global health problem. The interventions should aim to reduce the emerging crisis of non-communicable diseases related to air pollution, particularly among vulnerable age groups and the male population, ultimately improving public health outcomes. [ABSTRACT FROM AUTHOR]

Moscow is actively using the conflict in Ukraine to advance its vision of a different international order. This vision emphasises a world fragmented into spheres of influence centred on a handful of 'civilisational states' embodying distinct political cultures not necessarily compatible with liberalism and democracy. Russia uses its own sphere of influence in Eurasia as the incubator of an alternative set of norms and institutions that it seeks to socialise globally. This Russian vision appeals to other revisionist powers, notably China and Iran, which support Russia's war in Ukraine largely out of a desire to diminish US influence and consolidate their own regional spheres. Elements of it also appeal across the Global South, now a key arena for competition over the future global order. The outcome of Russia's war in Ukraine is perhaps the most important determinant of what the coming world order will look like. [ABSTRACT FROM AUTHOR]

The study analyzed the impact of the COVID-19 pandemic, inflation, and interest rates on the Home Price Index (HPI) in BRICS member countries (Brazil, Russia, India, China, and South Africa), using data from Q1 2016 to Q2 2023. Secondary data used in this study were obtained from official sources, including the International Monetary Fund (IMF), the Central Bureau of Statistics (BPS), and the Central Banks of BRICS countries. The analysis technique in this study uses panel data regression, namely the Fixed Effect Model (FEM). The results of the analysis of the data panel show that COVID-19 has had a significant positive impact on the HPI, indicating that the pandemic has affected the housing market in the BRICS countries. Interest rates have a negative and significant impact on the HPI, suggesting that tighter monetary policy is likely to suppress rising house prices. Finally, inflation has a positive and significant impact on the HPI, illustrating a positive relationship between inflation rates and house prices in BRICS countries. These findings provide insights for policymakers and stakeholders in BRICS countries in managing housing markets and addressing challenges posed by unforeseen events such as the COVID-19 pandemic. In addition, these results also have the potential to support the development of more effective economic policies for the BRICS. [ABSTRACT FROM AUTHOR]

In this study, we explore the financial and economic integration of BRICS nations (Brazil, Russia, India, China, and South Africa) and key emerging economies (Egypt, Saudi Arabia, and the UAE) using graph theory, aiming to map intersectoral connections and their impact on financial stability and market risk. The research addresses a critical gap in the literature; while political and economic linkages between nations have been widely studied, the specific connectivity between sectors within these economies remains underexplored. Our methodology utilizes eigenvector centrality and Euclidean distance to construct a comprehensive network of 106 publicly listed firms from 2013 to 2022, across sectors such as energy, telecommunications, retail, and technology. The primary hypothesis is that sectors with higher centrality scores—indicative of their interconnectedness within the broader financial network—demonstrate greater resilience to market volatility and contribute disproportionately to sectoral profitability. The analysis yielded several key insights. For instance, BHARTI AIRTEL LIMITED in telecommunications exhibited an eigenvector centrality score of 0.9615, positioning it as a critical node in maintaining sectoral stability, while AMBEV SA in the retail sector, with a centrality score of 0.9938, emerged as a pivotal player influencing both profitability and risk. Sectors led by companies with high centrality showed a 20% increase in risk-adjusted returns compared to less connected entities, supporting the hypothesis that central firms act as stabilizers in fluctuating market conditions. The findings underscore the practical implications for policymakers and investors alike. Understanding the structure of these networks allows for more informed decision making in terms of investment strategies and macroeconomic policy. By identifying the central entities within these economic systems, both policymakers and investors can target their efforts more effectively, either to support growth initiatives or to mitigate systemic risks. This study advances the discourse on emerging market integration by providing a quantitative framework to analyze intersectoral connections, offering critical insights into how sectoral dynamics in emerging economies influence global financial trends. [ABSTRACT FROM AUTHOR]

The objective of this article is to examine the volatility spillover effect between the foreign exchange market and the stock market of Brazil, Russia, India, China and South Africa (BRICS) countries along with Japan as the developed country in the region, affecting the BRICS countries. Generalized Autoregressive Conditionally Heteroscedastic (GARCH) (1,1) method is used to study the volatility between the stock market and the foreign exchange market in selected countries, and asymmetric model, that is, Exponential Generalized Autoregressive Conditional Heteroscedasticity—EGARCH (1,1) is also used to investigate the presence of leverage effects in both stock market and foreign exchange market in selected countries. GARCH findings suggest a two-way volatility spillover between the stock market and foreign exchange markets for India, China and South Africa. In BRICS countries, volatility spillover from the currency market to the stock market is seen as more evident and robust as compared to spillover from the stock market to the currency market. A positive asymmetry in spillover is also observed from the foreign exchange market to the stock market. The findings of the study may provide valuable information to investors for decision-making in international portfolio investment and also for economic policymakers for their financial stability perspective. [ABSTRACT FROM AUTHOR]

This study aimed to examine the variables that might affect the ecological footprint by using 1992–2015 data of the BRICS countries (Brazil, Russia, India, China, and South Africa). The common correlated effects' mean group test was employed under the assumption of cross-sectional dependence and heterogeneity. In Brazil, an increase in energy consumption, technological development, and globalization decreased the ecological footprint by 0.043, 0.031, and 0.050 units, respectively, while an increase in urbanization increased the ecological footprint by 0.716 units. In Russia, on the other hand, no interpretation could be made because the coefficients were meaningless. In India, it had been observed that an increase of one unit in urbanization reduced the ecological footprint by 0.269 units. In China, it had been determined that a 1-unit increase in energy consumption reduced the ecological footprint by 0.043 units. In South Africa, the results could not be interpreted because the coefficients were insignificant. The results obtained vary according to the countries that revealed that local policies can also be effective on these variables. Therefore, countries have to act by examining the structures on their own to implement the policies they needed. [ABSTRACT FROM AUTHOR]

Abstract This study seeks to test the validity of the Marshall–Lerner (M-L) condition between Egypt and BRICS countries (five countries: Brazil, Russia, India, China, and South Africa) to determine which industries will benefit from depreciation in the long run by employing the import and export models between Egypt and the BRICS countries at the bilateral and commodity levels by selecting 69 commodities according to the harmonized system (H.S.) 2-digits—these commodities represent a significant portion of Egypt–BRICS trade—and applying the autoregressive distributed lag (ARDL) bounds test over 2001–2022. The results indicate that the M-L condition is not met at the bilateral trade level. At the commodity level, the M-L condition is held only in 8 out of 69 industries. Egypt has a comparative advantage in five of these eight industries—coded 17, 32, 55, 62, and 96—while 71, 79, and 84 have a comparative disadvantage. However, all these industries’ sizes, reflected by their trade share in 2022, are small. The paper builds on previous theoretical and empirical work in this field and fills a knowledge gap by examining the M-L condition in Egypt–BRICS trade. Moreover, addressing aggregation bias through disaggregated analysis—at the bilateral level as well as at the commodity level—the study results may motivate the government and policymakers to ask for more consideration of the structure of Egypt’s exports and imports with BRICS countries to capture the benefits of devaluation and joining the BRICS bloc and provide comprehensive backing for the industries where the M-L condition was met.

Information technology is a critical driver of productivity growth in modern economies. However, there has been no convincing explanation for the observed discrepancy in the literature, increasing suspicion on whether IT can improve institutional performance in contemporary banking markets. The fallacy of productivity adds credence to Robert Solow’s dictum, “You can see the computer age everywhere except in productivity statistics”. We employ two extensive bank-level datasets of 5,794 institutions across 37 nations to estimate the total factor productivity (TFP) payoffs from IT in BRICS and European markets. A DEA-based, Malmquist productivity index quantifies TFP change and its respective components. Findings provide evidence against the paradox as both regions experience IT-fueled productivity growth. Nevertheless, such associations vary across banking sector development, rationalizing how IT spending can explain productivity differences across nations. For BRICS banks, a significant proportion of TFP growth originates from frontier expansion instead of frontier progression, signaling a widening of technology gap. Contrastingly, IT has diminished the technology gap between European banks. Intra-country comparisons suggest that if IT-driven productivity growth is regarded as a nation’s long-term goal, industry characteristics should govern the distribution of knowledge capital.

Abstract Objectives Maternal hypertensive disorder (MHD) is a leading cause of significant maternal and fetal mortality and morbidity. The BRICS nations are crucial in the global MHD landscape, given their large populations and varied healthcare infrastructures. This investigation evaluates the incidence trends of MHD in BRICS countries from 1992 to 2021. Study design and methods Data on the number, all-age rate, age-standardized rate (ASR), and the relative change of MHD incidence from this study were sourced from the Global Burden of Disease (GBD) 2021 public dataset to investigate temporal trends in MHD incidence over three decades globally and in BRICS countries. The age-period-cohort (APC) model was used to estimate net drift, local drift, age-specific curves, and period (cohort) relative risks. Results A 15.87% increase in global MHD cases, alongside a 13.40% decrease in age-standardized incidence rates from 1992 to 2021. MHD incidence rates are declining across various BRICS age groups, except in China and Russian Federation, where most groups exhibit increasing trends. Annual net drift in MHD incidence ranges from − 4.25% in India to 2.38% in China. A shift in the age distribution of MHD cases from younger to older within the childbearing age range is observed in all BRICS nations. Countries exhibit similar age-effect patterns, with decreasing risk with increasing age, and varying period and cohort effects, indicative of differential control measures and temporal incidence trends. Conclusions Global and BRICS-specific reductions in MHD incidence vary in magnitude. Customized preventive strategies, leveraging existing resources, are advisable for BRICS nations to address pregnancy complications. Enhancing primary healthcare and maternal care quality, particularly for older mothers, is imperative.

Neoliberalism has been described as the most successful ideology in world history (Anders-son 2000). This has, in turn, impacted the modern media by dumbing down its public interest role, through cultivating concentrated media ownership patterns, which has produced hyper-commercial and elitist-driven content. This paper has the broad aim of provoking discussions and debates both for the Global South and Global North geospatial locations grappling with these neoliberal consequences, by considering what systemic alternative(s) to capitalist me-dia can be considered. It specifically explores the return of the anti-capitalist alternative media to South Africa’s print media terrain to function in a developmental role. With the aim to dilute the neoliberal capitalist nature of its media that has effectively perpetuated the dominance of the elite class at the expense of citizen-oriented and public interest imperatives (Govenden 2022). It furthers this argument by also comparatively drawing on two BRICS country case studies from Asia i.e. China and India.

Aim. The article aims to formulate the problem of formation of such type of investment institutions as investment platform in BRICS.Tasks. The objectives of the article are defined by the fact that the executive director of the Russian Direct Investment Fund proposed to create a joint investment platform of BRICS countries, allowing BRICS members to invest more actively in the economies of their partners. And as is known, BRICS countries currently play a significant and constantly growing role in world politics and international relations. Methods. In the process of research the set tasks were solved by the author usin g general scientific (historical, dialectical, systemic, logical, method of analysis) and legal (comparative legal, sociological, axiological) research methods.Results. The result of the research is the proposal based on the Russian experience of regulation of platform services (financial platforms, investment platforms and information systems) on the formation on the basis of the Russian regulation model of the concept of building the corresponding institution within BRICS. At the same time, the article also draws attention to possible problems that may arise during the preparation of the relevant international act. In particular, the implementation of this initiative raises a wide range of technical, economic and legal issues that require detailed consideration.Conclusions. When choosing specific investment methods that can be used on such a platform, it is necessary to take into account the needs of businesses and the population, both in the long-term and short-term attraction and placement of resources. In particular, legal regulation of the choice of the legal regime for investment should influence the choice of the legal status of entities that will be admitted to such a platform, highlighting, for example, qualified investors or retail investors.

Nowadays transformational changes are going together with the need to address global environmental and climatic challenges. The BRICS member countries realize the need for a fair energy transition to lowcarbon development both within the association and globally.Aim. The objective of the research is to highlight the priority areas that BRICS member countries need to focus on to ensure an equitable and cost-effective transition to low-carbon development at the global level.Tasks. In order to achieve the objective of the study, it is necessary to analyze the components of the BRICS equitable low-carbon development agenda as well as its applicability at the global level.Methods. The research was conducted using the method of systematic analysis of a wide range of academic and empirical sources. The author adheres to a systematic scientific approach.Results. Through the analysis of key initiatives of the BRICS member countries, including legislative ones, five priority areas on which the BRICS needs to focus on to ensure a fair energy transition at the global scale are identified: removing discriminatory measures in multilateral trade, achieving food security and economic growth, facilitating non-discriminatory access to technology, promoting environment and climate cooperation, and enhancing the human resource potential of the energy sector.Conclusions. The author concludes by noting that such a BRICS sustainable development agenda is capable of initiating energy transition processes on a global scale.

After the end of the Second World War, two opposing economic systems began to dominate the world economy: Western capitalism and Eastern communism. They were not only in an economic competition but also in a political, social and military competition. This bipolarity lasted until the Fall of the Berlin Wall when the liberal capitalism finally triumphed. On the one hand, the last decades were characterized by the rapid expansion of the economic globalization all over the world and the preservation of the long domination of the American economic superpower. On the other hand, the emergence and development of the BRICS (Brazil, Russia, India, China, South Africa) organization constitute an attempt to counterbalance the global institutions dominated by the Western countries. The paper aims to present and briefly analyse the gradual change of the world economic order in the beginning of the 21st century. To attain the goal of the paper, the author utilized a qualitative research method. To attain the goal of the paper, the author utilized a qualitative research method. The results of the study show that the old economic order that has governed the world economy since 1944 has been significantly deteriorated, especially in the last decades. This is why a new and more equitable economic order which should promote multilateralism is needed at the global scale.

Abstract The significance of democratic commitment is highlighted on a global scale by the importance placed on offering a multitude of chances to establish enduring ecosystems and foster economic progress. Social finance, capital formation, and green finance have recently received a lot of attention from this perspective. Past studies mainly examined social finance and green finance in isolation. When investigating the individual impact of these important variables on economic growth in the occurrence of important events like the COVID-19 pandemic and other environmental pollution issues, most studies have mainly focused on developed countries, ultimately ignoring the different dynamics in emerging economies. The purpose of the research is to investigate the joint interaction between social finance (Social Impact Bonds), capital formation, and green finance (green loans, green investments, and green security) on economic development in BRICS economies. This research employed a longitudinal dataset from 2013 to 2023. The generalized method of moments (GMM) and fixed effect model (FEM) were employed in this research as statistical techniques for estimating parameters. The findings of this study revealed a positive joint relationship between green finance, capital formation, and social financing on economic development of BRICS economies. Therefore, measures that jointly promote social and green finance amidst environmental challenges or economic risks could present opportunities to mitigate the vulnerability of a country's economic prosperity. This research will surely guide policymakers in developing economies on how to give considerable attention to sustainable aspects while formulating policies and strategies aimed at economic development.

The group known as BRICS, comprising Brazil, Russia, India, China, and South Africa, came into being when its members decided to join hands to challenge the economic and political power of the wealthier nations of North America and Western Europe and expanded as BRICS+ when Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates entered the alliance with the same goals. Among the main reasons that led to the formation of the bloc was to put an end to the global dominance of the United States dollar (USD). Today, the BRICS+ bloc is motivated more than ever to find a solution to the ever-growing sanctions imposed by the United States (U.S.) on its member states as well as to cope with the fluctuating market situations that are merely based on the USD. The effectiveness of the newly expanded bloc’s alliance is the need of the hour, and for this purpose, the current study conducted a SWOT analysis to evaluate the bloc’s strengths, weaknesses, opportunities, and threats. The study took the facts and figures associated with the BRICS member states and their dealings with the U.S. and tried to analyze the effectiveness of this bloc should its members decide to conduct business with each other in a common currency. Furthermore, the study also evaluated the reasons behind the concept of de-dollarization and the benefits it offers the member states of the BRICS bloc. Additionally, the study proposes essential recommendations, such as the formulation of necessary measures to deal with potential disagreements that may arise regarding the choice of a common currency that should be used for trade among the member countries. Such an application of the study is an entirely novel application in the current area of research with the potential to open new horizons for future research considering the new targets of the BRICS+ group.

A new era for BRICS has begun with the desire of new countries to join BRICS. This expansion, the BRICS+, poses several challenges and opportunities for the renewed alliance, particularly concerning the digital sovereignty of the countries. On the one hand, the leading five BRICS nations have the potential to achieve digital sovereignty, earning the moniker “the hawks of digital sovereignty.” On the other hand, expanding BRICS membership to countries with varying levels of digitalization raises issues for the alliance. These include improving national legislation on digital sovereignty and defining actions to foster cooperation within BRICS+. This article aims to design a theoretical legal model for BRICS+ digital sovereignty, outlining its pillars and offering recommendations for achieving digital sovereignty within BRICS+. The comparative legal method, used to analyze regulations in digitalization and digital sovereignty among BRICS+ member countries, ensures a comprehensive understanding of the legal landscape. Retrospective analysis, which studied the development of BRICS+ regulations in these areas, provides a historical context. The systematic method, which examined legal tools and instruments that contribute to achieving digital sovereignty, ensures a thorough exploration. The content analysis allowed for the interpretation of news articles and social media sources related to BRICS+ digital sovereignty, adds a contemporary perspective. The authors conclude that achieving digital sovereignty for BRICS+ is possible and offer several recommendations for collaboration, including developing a BRICS+ digital sovereignty memorandum, launching a BRICS+ regulatory sandbox, and deploying a BRICS+ sovereign cloud. These recommendations can inform BRICS+ policy-making, contribute to the limited literature in this field, and serve as a basis for future research on BRICS+ digital sovereignty.

The article is devoted to the analysis of the legal regulation of the process of introducing FinTech in the sphere of impact finance within the context of digital technologies in the newly expanded BRICS bloc. This is a crucial step in order to be able to meet the challenges of the new global digital economy and cooperate in achieving common goals. The authors come to the conclusion that although the BRICS countries are geographically located on different continents, the states that decided to form this organization share a number of key features. Firstly, the governmental role in the digital transformation of all BRICS countries is significantly greater in comparison to the Western countries. Secondly, because not all BRICS countries have developed economies, the BRICS member states, despite their strong interest in digitalization of their countries, do not always have the capacity to finance such projects from their own national budgets, which highlights the important role of the BRICS New Development Bank in the process of digitalization of the BRICS economies. Thirdly, cooperation among the BRICS countries, through their participation in the New Development Bank in the digital realm, can significantly contribute to fostering the economic growth of each country within the integration. Since the greatest effect of digital technology penetration is achieved when starting from the lowest level, harmonization of approaches in the BRICS countries and new member countries of the bloc will most likely have a synergistic effect.

International law is an effective tool for preventing and resolving conflicts between countries, as well as for facilitating their efficient cooperation in the fields of security, trade, and the protection of human rights. With the emergence of interstate bodies that accept appeals from citizens who disagree with the way their interests were protected within the state, the scope of international law has expanded to include not only the states and their peoples (which is why this law is called “international”) but also individuals who can now be considered subjects of international law. However, in recent years, the authority of international law has seriously weakened. The reasons for this are the selective attitudes toward the fulfillment of obligations assumed by individual governments,“double standards” in the application of generally recognized norms and principles to different states, and outright pressure exerted on interstate bodies by countries claiming global hegemony. The authors prove that international law can well regain its former trust and effectively serve its purposes of promoting peace, universal security, and justice. They support their claim by providing examples of such interstate associations as BRICS, the Shanghai Cooperation Organization, and the Eurasian Economic Union, which are based on and successfully operate on the principles of multipolarity, equality, and mutual respect. The article highlights the efforts made by the Russian Federation and the People’s Republic of China aimed at the strict observance of the principles of state sovereignty, human rights, and freedoms, including the right to speak one’s native language, as well as the principles of equality and justice in resolving disputes that arise in international relations.

The present study examines the sensitivity of exchange rate pass-through (ERPT) to the business cycle and rate of inflation in the case of five emerging market economies, namely BRICS (Brazil, Russia, India, China, and South Africa). Existing literature on the ERPT has documented inconclusive evidence, focusing more on developed economies. However, emerging markets like BRICS are given only peripheral attention, especially in the nonlinear framework. Using a backward-looking Philips curve analytical framework and the logistic smooth transition regression (LSTR) method, we found (1) ERPT coefficients are greater than zero but less than one, implying that exporters neither follow producer or local currency pricing. (2) With inflation as a transition variable, the Taylor hypothesis is validated in the case of three (Russia, India, and South Africa) countries wherein the degree of ERPT increases with the inflation rate, unlike in the case of Brazil and China. (3) With output growth as a transition variable, the ERPT is found to be more during a boom than during a recession for Russia and South Africa. In contrast, in the case of India, ERPT responds negatively to the level of economic activity. In the case of Brazil and China, however, no evidence of nonlinearity was established with respect to output growth. (4) Our results advocate adopting effective and credible policies like inflation targeting regimes and stable output growth to avoid appreciable pass-through of exchange rate changes into domestic inflation. Such policies enhance the credibility gains and may thus lead to low ERPT. [ABSTRACT FROM AUTHOR]

The resurgence of famines is a topic of concern. This paper explains the recent trajectory using the framework of contending 'global war economies'. It characterises the unipolar neoliberal world order era (1986–2015) as the 'Pax Americana' war economy, focusing on the United States dollar's roles. These were the decades of the liberal imperium, the corporate food regime, and counterinsurgent coalitions, which generated structural vulnerability to food crises and reduced the actual incidence and lethality of famine. The paper characterises the subsequent period (2016 onwards) as the challenge of the BRICS club, focusing on its efforts to rewrite the global political economy's rules, proactively hedging among diversifying currency regimes. This entails a scramble to secure strategic commodities and infrastructure in subaltern countries, which is intensifying conflict and food insecurity, and revising international norms in favour of reasserting sovereign rights. The global political–economic contestation and, especially, the associated normative regression are permissive of political and military triggers of famine. [ABSTRACT FROM AUTHOR]

The countries with greater economic freedom are believed to have higher economic progress. Over the last two decades, researchers have focused on the impact of institutional quality on economic development of a country but not much insights are drawn about the individual components of economic freedom. The present study addresses this gap by assessing the impact of market openness on economic growth of the emerging economies, the BRICS bloc for the period 1995-2019 using Feasible Generalized Least Squares method. Our panel data analysis revealed a new evidence suggesting a negative impact of the sub-components of market openness on economic growth.

This study examines the relationship between Access to Electricity, CO2 Emission, and Economic Growth in BRICS. This study uses secondary data sourced from the World Bank with the period 2000 to 2021. The analysis technique in this study uses panel data regression and graanger causality. The conclusion of this study confirms that increased access to electricity has a significant impact on economic growth in BRICS countries. Strong investment in energy infrastructure, including efforts to expand access to electricity, has proven to encourage sectors of the economy that rely on reliable energy.