The structural power of the BRICS (Brazil, Russia, India, China and South Africa) in multilateral development finance: A case study of the New Development Bank

Duggan, Niall; Azalia, Juan Carlos Ladines; Rewizorski, Marek

doi:10.1177/01925121211048297

Cited by 13 publications

(14 citation statements)

References 40 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…By the time of the 13th summit, the NDB had mounted 80 projects amounting to $30 billion and had admitted the United Arab Emirates, Uruguay, Bangladesh and Egypt as new members, increasing its representation and legitimacy. With seven bond programmes, the NDB generated liquidity for funding in financial markets, enhancing its financial sustainability through market instruments [Duggan, Ladines Azalia, Rewizorski, 2021]. BRICS sustained its institutional dynamics despite domestic challenges, contradictions between the members, and the unprecedented tests of the COVID-19 pandemic and ensuing socio-economic crises.…”

Section: Discussionmentioning

confidence: 99%

The First Fifteen Years of the BRICS

Kirton¹,

Ларионова²

2022

IORJ

View full text Add to dashboard Cite

At the first BRIC(S) summit in 2009, leaders of the major emerging market countries (Brazil, Russia, India, and China) from different continents committed to build a democratic and transparent economic architecture, support the efforts of the Group of 20 (G20) to reform the international financial institutions, restore growth, and deepen intra-group cooperation. Since then, views expressed in the literature on BRICS (expanded to include South Africa in 2010) have ranged from the harsh dismissal of BRICS as a meaningless investment banker’s acronym to its identification as a new power centre with a profound impact on the global economic order. The authors offer an updated, systematic assessment of BRICS’ evolving institutional dynamics, performance, and contribution to cooperation among its members, and to global governance as a whole. Using qualitative and quantitative methods, they identify the major achievements of each of the BRICS’ 13 annual summits through the three five-year hosting cycles, the leaders’ agreements on 933 collective commitments, and their countries’ compliance with them at a level of 77% overall. Further, they highlight the expansion of the group’s agenda into 34 subjects, the process of building the intra-BRICS institutions with the New Development Bank (NDB) as its hallmark, and its extensive second track networks including Business, Think Tanks and Academic, Trade Unions, Parliamentarian, Youth and Civil BRICS. In its first 15 years, BRICS expanded and sustained its institutional dynamics, depth, and performance despite external and domestic challenges, tensions between the members, and the unprecedented tests of the COVID19 pandemic and the ensuing socio-economic crises since 2020. Established as a dialogue and policy coordination forum, it matured into a transregional governance institution with a comprehensive political-security, socio-economic, and people-to-people agenda. Its dense institutional networks, flexibility, continuity, and foundational principle of moving forward only on issues acceptable to all members were vital factors for BRICS’ resilience and evolution. Although broadening its agenda inhibited deepening cooperation, there was considerable continuity across the annual presidencies. Progress on intra-BRICS cooperation was more tangible than that on international architecture reform, despite the group’s unwavering commitment to an equitable international order. Its consensus-based working methods sometimes constrained the group’s leadership. However, BRICS proved its value as a platform for facilitating its members’ bilateral relations and convergence in approaches, promoting their role in global governance, and advancing a more inclusive, representative, and effective international institutional system.

show abstract

Section: Discussionmentioning

confidence: 99%

The First Fifteen Years of the BRICS

Kirton¹,

Ларионова²

2022

IORJ

View full text Add to dashboard Cite

show abstract

“…In this context, there is a need to research new forms and modalities of cooperation among the BRICS and external actors and the resulting changes in global governance. There is a need to compare the ambitions of the BRICS countries to create an alternative world order in favour of multi-polarization as well as the increasing role of developing countries and their ability through south–south cooperation to transform the BRICS platform into an efficient instrument for attaining common goals (see Brosig, 2019; Duggan et al, 2021; Larionova and Shelepov, 2021; Puppim de Oliveira and Jing, 2020). The articles which contribute to this symposium have a methodological advantage from access to policy documents, official statements and media reports conducting semi-structured interviews with a wide range of officials and experts in these respective languages.…”

Section: Core Research Questionsmentioning

confidence: 99%

“…The first set of articles focuses on structural changes driven by the BRICS countries. This is clearly outlined by Duggan et al (2021), whose paper examines the structural power of the BRICS within global governance. They assess the critical aspects of the debate about the power of the BRICS to change the rules and norms that underpin the global governance structure.…”

Section: The Brics Global Governance and Its Theoretical And Empirica...mentioning

confidence: 99%

“…Personal preferences and leadership change play a role in the BRICS political grouping. The dynamics of the BRICS limit their potential to reshape global governance (Hooijmaaijers, 2021b; see Duggan et al, 2021).…”

Section: Evaluation and Conclusionmentioning

confidence: 99%

“…The second theme focuses on these new global governance mechanisms initiated by the BRICS. Emerging powers create a latticework of groupings and parallel structures to address power asymmetries and reshape rules in global governance (see Duggan et al, 2021). On a related note, regarding the opening up of the BRICS to non-BRICS countries, the BRICS Plus format does not have a permanent set of countries due to the other four BRICS states remaining wary of China's predominance in the political grouping.…”

Section: New Global Governance Mechanisms Initiated By the Bricsmentioning

confidence: 99%

See 2 more Smart Citations

Introduction: ‘The BRICS, Global Governance, and Challenges for South–South Cooperation in a Post-Western World’

Duggan

Hooijmaaijers

Rewizorski

et al. 2021

International Political Science Review

Self Cite

View full text Add to dashboard Cite

Over the past decades, the BRICS (Brazil, Russia, India, China, South Africa) countries have experienced significant economic growth. However, their political voices in global governance have not grown on par with their economic surge. The contributions to the symposium ‘The BRICS, Global Governance, and Challenges for South–South Cooperation in a Post-Western World’ argue there is a quest for emerging markets and developing countries to play a more significant role in global governance. There is a widening gap between the actual role of emerging markets and developing countries in the global system and their ability to participate in that system. However, for the moment, various domestic and international political-economic challenges limit this quest. To understand why this is the case, one should understand the BRICS phenomenon in the broader context of the global power shift towards the Global South.

show abstract

Contagious convergent cumulative cooperation: the dynamic development of the G20, BRICS and SCO

Kirton

Larionova

2022

Int Polit

View full text Add to dashboard Cite

The institutional development and performance of the Group of 20 (G20), the BRICS group of Brazil, Russia, India, China and South Africa, and the Shanghai Cooperation Organisation (SCO) have shaped twenty-first-century global governance. Each of these plurilateral summit institutions (PSIs) has different founding visions, missions, memberships, participants, institutionalisation patterns and priorities. However, the potential for competition soon gave way to contagious, convergent, cumulative cooperation. By 2021, each was countering COVID-19-created crises in a mutually reinforcing way. Each extended outreach to new members or regular guest leaders, expanded their institutions and civil society engagement, and embraced economic finance, social sustainability and political-security issues. They increased their performance on the major dimensions of global governance in mutually supportive, if highly implicit, ways. The three big non-western Asian powers-China, Russia and India-at the core of these PSIs drove this dynamic, contagious, cumulative convergence and applied lessons learnt across all three PSIs. This was reinforced by their increasing, shared need to guide globalisation and counter its shocks, from the Asian financial crisis in 1997-1999 to the COVID-19 pandemic of 2020-2021.

show abstract

The structural power of the BRICS (Brazil, Russia, India, China and South Africa) in multilateral development finance: A case study of the New Development Bank

Cited by 13 publications

References 40 publications

The First Fifteen Years of the BRICS

The First Fifteen Years of the BRICS

Introduction: ‘The BRICS, Global Governance, and Challenges for South–South Cooperation in a Post-Western World’

Contagious convergent cumulative cooperation: the dynamic development of the G20, BRICS and SCO

Contact Info

Product

Resources

About