The BRICS’s Economic Growth Performance before and after the International Financial Crisis

Nassif, André; Feijó, Carmem; Araújo, Eliane

doi:10.1080/08911916.2016.1270083

Cited by 9 publications

(6 citation statements)

References 16 publications

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“…The growth trajectory is in the innovation part of the framework space, but productivity growth was lower than in phase 1 on average. This result can be interpreted as an inability on the part of policymakers to closely coordinate productivity-enhancing policies such as industrial, technological and trade policies with short-term macroeconomic policies (especially monetary and exchange-rate policies) (Bresser-Pereira, Nassif and Feijo, 2016;Nassif, Bresser-Pereira and Feijo, 2018). In other words, Brazil's macroeconomic policy regime, which combines an inflation and fiscal targeting regime with a floating exchange-rate regime, has not been successful in increasing policy space for growth policies.…”

Section: Phase 3: a New Growth Regime Of Economic Integration In An A...mentioning

confidence: 99%

“…2 China and India are rare examples of cautious financial integration, and it is no coincidence that they have performed better than other developed and developing economies since the international financial crisis. See Nassif, Feijo and Araújo (2016) for a discussion of the economic performance of Brazil, Russia, India, China and South Africa (BRICS) since the financial crisis. 3 Rey provides another way of looking at the loss of autonomy in financially integrated developing countries' economic policies.…”

Section: Introductionmentioning

confidence: 99%

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The growth trajectories of Argentina, Brazil, Chile and Mexico: a comparative view through the framework space lens

2022

CEPAL Review

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This paper discusses different growth trajectories in a selection of Latin American economies, namely Argentina, Brazil, Chile and Mexico, comparing the phase of import substitution growth strategies with the more recent period of financial integration into the world economy. Our working hypothesis is that different growth trajectories result from the linkages between macroeconomic conditions and changes in production structures. When policy space becomes narrower, long-term growth performance is impaired and structural change will not usually enhance growth potential. We carry out an analysis based on the framework space methodology, which serves to compare phases of growth described as an evolving coupling of the dynamic profile of productivity growth (a supply-side condition) with the behaviour of capital accumulation (a demand-side condition). In light of the framework space comparative analysis, our main conclusion is that economic opening in the 1990s did nothing to further the catching-up process in any of the four economies.

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Section: Phase 3: a New Growth Regime Of Economic Integration In An A...mentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

The growth trajectories of Argentina, Brazil, Chile and Mexico: a comparative view through the framework space lens

2022

CEPAL Review

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“…Although negotiations on the establishment of the Transatlantic Trade and Investment Partnership (TTIP) were unsuccessful, opportunities for enhanced mutual economic relations and strengthening of the international competitive position of these economies were considered to be associated with establishment of close institutional cooperation and the EU-USA free trade area. It needs to be remembered that these economies face growing pressure from the emerging economies, including BRICS, gaining in geopolitical importance and economic strength [15][16][17][18][19]. It results from the studies by Francois et al [20] and Bureau et al [21] that the establishment of the free trade area between the EU and the US would boost their mutual trade, giving both economies an opportunity to increase their market shares and strengthen their international competitive position.…”

Section: Introductionmentioning

confidence: 99%

Does Poland’s agri-food industry gain comparative advantage in trade with non-EU countries? Evidence from the transatlantic market

Pawlak

Smutka

2022

PLoS ONE

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Accession of Poland to the European Single Market generated trade creation and diversion effects, which in turn resulted in a high degree of concentration of the Polish foreign trade in agri-food products with other EU countries. On the one hand, a high share of export to the markets of countries with a stable market economy is a confirmation of the Polish agri-food sector's capacity to compete on the foreign markets. On the other hand, when considering limited capability to increase food demand in the EU it provides grounds for the assumption that further export expansion to a considerable extent will depend on the potential expansion of sale to non-EU markets. In this context significant issues include diversification of target markets and search for prospective markets outside the EU, while they also determine directions of an advantageous export specialization. In the period up to 2021 the USA was the fourth non-EU export partner of Poland in the agri-food sector after the United Kingdom, Ukraine and Russia. The aim of this paper is to evaluate the level of comparative advantages of the Polish agri-food sector on the EU and US markets in 2004-2021 using Widodo's products mapping technique. The study used statistical data from the ComExt database of the European Statistical Office (Eurostat). The conducted studies showed Polish export specializations in the transatlantic trade, as confirmed by high comparative advantages, as well as a positive and steadily improving trade balances for food preparations, including meat, cereal, fruit and vegetable, as well as confectionery preparations, and less processed animal origin products (meat and offal as well as dairy produce). Poland had a disadvantageous competitive position in trade of products complementary in relation to domestic production, which import was necessary. In view of the comparative cost theory the directions of the realized export specialization were rational and should be maintained. While in trade with the other EU countries the competitive position of the Polish agri-food sector was weakened, it was strengthened on the US market. In view of the considerable EU market saturation the improved competitive capacity in the non-EU markets is a positive development, which is a promising finding particularly in the long-term perspective.

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“…The growing political significance and economic potential of BRICS countries was discussed e.g. in The BRICS Report (2012), as well as by Nassif, Feijo and Araújo (2016) or Siddiqui (2016).…”

Section: Introductionmentioning

confidence: 99%

Role of the Eu, the Usa and Brics Countries in Global Trade in Goods and Services and Selected Determinants

Jabkowski¹,

Szalaty²,

Wyduba³

2018

Economic Sciences for Agribusiness and Rural Economy

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The aim of this paper is to present changes in the role of EU countries, the USA and BRICS countries in international trade of goods and services and selected macroeconomic determinants of trade exchange in the analysed countries in the years 1960-2015 together with the projection of potential development of the situation until 2070. Investigated macroeconomic trade conditions included population size, GDP, GDP per capita and the inflation rate. Naive forecasting methods were used to estimate selected characteristics, as well as export and import volumes, considering their development trends. The analyses showed that currently, the largest global trade centres, i.e. the EU and the USA, are losing their share in global GDP. Their share in global exports and imports is decreasing to the advantage of BRICS countries. The simulation up to 2070 showed that the trends observed in previous years may be increasing, while the position of the EU and the USA in world trade may be weakening.

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The BRICS’s Economic Growth Performance before and after the International Financial Crisis

Cited by 9 publications

References 16 publications

The growth trajectories of Argentina, Brazil, Chile and Mexico: a comparative view through the framework space lens

The growth trajectories of Argentina, Brazil, Chile and Mexico: a comparative view through the framework space lens

Does Poland’s agri-food industry gain comparative advantage in trade with non-EU countries? Evidence from the transatlantic market

Role of the Eu, the Usa and Brics Countries in Global Trade in Goods and Services and Selected Determinants

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