The basic precept under which the BRICS (Brazil, Russia, India, China and South Africa) has been forged as a formal association is to become a more constructive and progressive group in the developing world. The biggest factor that propels BRICS to become a force to reckon with is the huge market space that it offers to the entire world The BRICS members are all developing or newly industrialised countries, but they are distinguished by their large, fast-growing economies and significant influence on regional and global affairs. The economic development models of BRICS countries are significantly different from that of developed countries and regions like the United States, Europe and Japan. The economic growth in the five BRICS countries was established on the basis of low-cost labour, abundant mineral resources, and few technological innovations. Taking China as an example, it depends highly on investments for economic growth as opposed to consumption which has no contributing value. The economic structures of BRICS countries are inadequate. Russia mainly depends on the energy, military and heavy industries, but the service and financial sectors are underdeveloped. China is at the low end of the industry-chain structure, whilst South Africa, Brazil and India do not have a comprehensive industrial system and external dependence is prominent. This research paper discusses the export import business comparison of five nations after their formation with the help of percentage analysis and also various economic indicators of BRICS nation with respect to world along with the SWOT analysis.

R&D, which is one of the main determinants of technological development, has a critical role in determining the development differences between countries. The fact that developing countries as well as developed countries start to allocate more funds to R&D expenditures causes the literature on this subject to remain up-to-date. The aim of this study is to examine the relationship between R&D expenditures and growth in the period of 2000-2018 in Brazil, Russia, India, China, South Africa, and Turkiye (BRICS-T). In this context, Dumitrescu-Hurlin’s (2012) causality test, Impulse-Response and Variance Decomposition analyzes are used together with the panel VAR approach. According to Dumitrescu-Hurlin (2012) causality test, there is a bidirectional causality relationship between R&D expenditures and growth in BRICS-T countries.

In this article, long term data is analyzed for the total growth of the world economy and the growth of developed (G7) and of the rapid developing economies. BRICS countries are known countries with their meetings since 2008. Rapidly developing countries such as Mexico, Argentina, Turkey, Indonesia and Korea are defined as MATIKin thisanalysisexceptthecountriesfor BRICS meeting. Especially, the basic hypotheses of this study is that BRICS+MATIK countries whose economic shares slowly increase were compared with G-7 and the global economy, i) Help of BRICS+MATIK economies rapidly increase for the growth rate of world economy: ii)They’re the hypotheses that BRICS+MATIK economies are cointegrated with the growth of world economy in long term. In this way, it may be possible that the help of G-7 is compared with the help of BRICS+MATIK economies for the growth of world economy. The study uses the annual data of the 1962-2012 periods. Time series analysis is used to test the hypotheses....

In this article, long term data is analyzed for the total growth of the world economy and the growth of developed (G7) and of the rapid developing economies. BRICS countries are known countries with their meetings since 2008. Rapidly developing countries such as Mexico, Argentina, Turkey, Indonesia and Korea are defined as MATIKin this analysis except the countriesfor BRICS meeting. Especially, the basic hypotheses of this study is that BRICS+MATIK countries whose economic shares slowly increase were compared with G-7 and the global economy, i) Help of BRICS+MATIK economies rapidly increase for the growth rate of world economy: ii) They’re the hypotheses that BRICS+MATIK economies are cointegrated with the growth of world economy in long term. In this way, it may be possible that the help of G-7 is compared with the help of BRICS+MATIK economies for the growth of world economy. The study uses the annual data of the 1962-2012 periods. Time series analysis is used to test the hypothes...

This paper examines how important the BRICS countries are to the world economy as emerging market nations. Together, these countries account for 41% of the global population, 24% of the global GDP, and more than 16% of global commerce; BRICS is a significant organisation that brings together the most prominent emerging economies worldwide. Over the years, the BRICS nations have been the primary drivers of global economic development. It focussed on the two decadal (2000-2020) growth and development patterns in different demographic and economic facets. It is important to note that the BRICS group fared far better economically than industrialised nations and was not significantly impacted by the global crisis. Increased input of forces and vast ranges of population and resources were the key drivers of the group's economic growth. China benefits from having inexpensive labour and resources. India, too relies on a cheap labour force. The study analysed at a variety of factors, including demographics-fertility rate, population growth, total population, life expectancy, and workforce. Economic development-GDP, per capita income, export and import, drugs, health, information technology (IT) service expenditures, automobiles, electronics spending, and public opinion on artificial intelligence (AI). The BRICS nations might soon rival the G7 in terms of leadership as they explore different resources for economic development.

of strategies to support the recovery of the economy and minimize the risks of relapse into stagnation. The key regions of the world economy continue to underperform pre-crisis developments, This showed that lots of countries still can’t handle the effects of crisis. On the other hand, the reasons for the depth and length of the crisis are several, but many of the tensions and imbalances that fed the crisis resulted from deep-seated trends that are unlikely to reverse in the coming decades, at least without major changes in policies. The recent studies showed that the global economy will be in a process of restructuring while, pursuing and monitoring of national and regional policies will become harder in the near future. The global tendencies indicate that there will be a major shift in specialisation amoungst countries which will in turn change the distribution of added value in the whole world. In this work, we discuss the changing position of Turkish economy in a changing/shifting world from a multidimensional perspective. The analysis is applied to the Turkish economy for the 1980-2015 period, and it is divided to two sub-periods that are 1980-2008 and 2008-2015. Data used in this study are basic macroeconomic indicators published by TUIK and the globalization indices are taken from the work Axel, Gaston and Martens (2008), human development data on Turkey, published by UNDP. The source of the data for World Economy are obtained from OECD, World Bank, Eurostat and UNDP. In this paper, by analysing the basic macroeconomic indicators like growth, industrial production, the structure of export and import, inflation, unemployment, we also focuse on human development, institutions and democracy In this work, beyond the analysis of the current situation, we evaluate the challanges and possibilities Turkey will face in the near future, by focusing on the variables which will have an impact on the economic and social performance of the country.

Economic growth plays an important role in restructuring economic and social attributes of Countries around the world, particularly the less developed Countries. It is an imperative element of a country's national economy and contributes substantially to the economic well-being of the people and the enlargement of resources. The growth rate and per capita income of an economy depends on the domestic production, consumption activities and in combination with foreign transaction of goods and services. Relevant data were collected from the reports of Ministry of Commerce data. The article purely based on the secondary data for the period of ten years from 2006-2007 to 2015-2016. The collected data were analyzed by using statistical tools namely Mean, Standard Deviation (SD), Coefficient of Variation (CV), Compound Annual Growth Rate (CAGR).

The BRICS have in the past decade shaken the world economy with their remarkable growth. Their share in the world GDP grew from 11 percent in 1990 to 25 percent in 2011. However, much of this success could be attributed to China and India. While China indulged in investment based growth model, India was reaping the benefits of its economic liberalization. Meanwhile Russia earned from the energy needs that China’s growth had created and Brazil attacked its own macroeconomic woes for a faster growth. South Africa, however, sneaked into the group and has been the one most lagging behind. The question which this report attempts to address is whether these nations are still the growth drivers of the world. There are several factors which suggest that even though these economies might continue to grow they cannot recreate the magic with their remarkable growth in 2000s. That period saw an unprecedented growth partly because of the surge in the growth of these countries owing to reasons inherent to their economies and partly due to the sluggish growth of the richer economies. That was the period when they witnessed the major sub-prime crisis of which the BRICS, to some extent, were shielded. The room to catch-up is now low. The challenges which each of the BRICS is facing have been used to suggest that their ruling period appears to have ended unless they revisit their strategies. Instead the N11 have emerged as the next set of potential economies though they too cannot be expected to replicate what BRICS achieved from 1999 to 2011.