scholarly journals New Development Bank: Importance and Role in Sustainable Economic Development

2015 ◽  
Vol 2 (2) ◽  
Author(s):  
K. B. Dhore
Keyword(s):  
International Development ◽  
World Economy ◽  
World Population ◽  
Development Bank ◽  
Foreign Reserves ◽  
Brics Countries ◽  
Complementary Role ◽  
New Development ◽  
The World

As of 2014, the five BRICS countries represent almost 3 billion people which is 40% of the world population, with a combined nominal GDP of US$16.039 trillion (20% world GDP) and an estimated US$4 trillion in combined foreign reserves. As of 2014, the BRICS nations represented 18 percent of the world economy. BRICS leaders have approved creating a New Development Bank which would fund long-term investment in infrastructure and more sustainable development. It then estimates the likely level of loans that this New Development Bank could make, under different assumptions. It highlights the complementary role that such a bank would play with existing development banks and shows its importance for enhancing the influence of BRICS and other developing countries in the international development architecture. On the other hand, there are doubts about the nature and coherence of the group. There is also concern that the economic agenda of BRICS could pose new challenges to human rights and development, particularly given the absence of domestic frameworks for accountability on international engagements.

scholarly journals THE DEVELOPMENT BANK OF BRICS

2018 ◽  
Vol 5 (4) ◽  
pp. 5-32
Author(s):  
Thiago Ferreira Almeida ◽  
Roberto Luiz Silva
Keyword(s):  
International Development ◽  
World Bank ◽  
Development Bank ◽  
Brics Countries ◽  
The World Bank ◽  
New Development ◽  
The World ◽  
Development Institutions ◽  
New Form ◽  
Growth Analyses

This paper takes aim at the international financial system through the lens of the New Development Bank of the BRICS countries with an analysis of the Bank’s impact and relevance vis-à-vis the system. The work compares the traditional characteristics of international development institutions such as the World Bank and financial entities directed by national authorities with international solutions such as the New Development Bank, whose goals are to boost the infrastructure and renewable energy sectors of its five member countries as well as those of other developing countries. The work lays out insightful data on foreign direct investment of BRICS, GDP growth analyses, imports and exports inside and outside the BRICS group for a clearer understanding of the companies and businesses involved in the group. The work highlights an outlook of investment and development engaged in this new form of South-South cooperation which has been created by BRICS.

Alternative Financial Integration to Stimulate National Competitiveness

2018 ◽  
pp. 162-179
Author(s):  
Tatiana Podolskaya
Keyword(s):  
Financial Institutions ◽  
Financial Integration ◽  
Development Bank ◽  
Global Competitiveness ◽  
Brics Countries ◽  
National Competitiveness ◽  
The World Bank ◽  
New Development ◽  
Potential Competitor

The BRICS nations (Brazil, Russia, India, China, and South Africa) actively joined in process of transformation of institutes of global financial market's management, having created New Development Bank. This institute according to most of analysts can be considered as potential competitor of the World Bank and as one of elements of so-called system of “parallel institutes”, which as required can become replacement American-centered system of international financial institutions. Progress of newly created New Development Bank in- much will depend on that economic power which will characterize BRICS economies. And a key condition of long-term stable economic growth is availability of global advantages of the BRICS countries. This article is devoted to the analysis of changes BRICS global competitiveness factors.

scholarly journals The New Development Bank and Multilateral Trade Facilitation Agreements on BRICS

2020 ◽  
Vol 6 ◽  
pp. 1
Author(s):  
Fiyinfoluwa Giwa ◽  
Keyword(s):  
Economic Growth ◽  
South Africa ◽  
World Trade Organization ◽  
World Trade ◽  
Development Bank ◽  
Trade Facilitation ◽  
Multilateral Trade ◽  
Brics Countries ◽  
New Development ◽  
The World

Brazil, Russia, India, China, and South Africa (BRICS) have made a tremendous economic impact on the world. Through the New Development Bank (NDB) and the Trade Facilitation Agreement (TFA) by the World Trade Organization, they have become stronger. This article made use of different views to discuss the implication of the NDB and TFA on BRICS. No empirical analysis was carried out. From the viewpoints of other scholars, the Trade Ministers of the BRICS and the World Trade Organization, the NDB and TFA can enhance intellectual and economic growth in the BRICS countries.

scholarly journals Silver Circulation Worldwide: Initial Steps in Comprehensive Research

2017 ◽  
Author(s):  
Patrick Manning ◽  
Dennis O. Flynn ◽  
Qiyao Wang
Keyword(s):  
Nineteenth Century ◽  
Economic History ◽  
World Economy ◽  
Historical Study ◽  
Published Data ◽  
World Population ◽  
15Th Century ◽  
The World ◽  
Wear And Tear

Published data on silver flows and stocks, gathered in volumes published by Moneta, provide a basis for initial steps in documenting flows of silver production and commerce from the sixteenth through the nineteenth century. Collection and publication of comprehensive data on silver flows will generate the first comprehensive study of flows of a commodity in the world economy of recent centuries, and will facilitate advances in global economic history. This article presents estimates from 1400 through 1900, showing annual flows of production, cumulative stocks (accounting for various levels of wear and tear), and the long-term rate of growth in silver stocks.Recent economic historical study of silver in the world economy, from the 15th century onward, has stopped short of comprehensive quantitative analysis. This group uses recently published date from the nineteenth-century silver boom and the international meetings associated with the gold standard to begin such comprehensive analysis. Results indicate that, while world population grew at an annual rate of 0.45% per year, 1700– 1900, silver stock rose at an approximate 0.7% per year in the same period. To support this confirmation of rapid monetization of the world economy, the article describes the procedure of estimating global flows and stocks out of competing estimates of silver flows.

scholarly journals A Atuação do Novo Banco de Desenvolvimento dos BRICS no Enfrentamento da Pandemia de Covid-19 l The BRICS New Development Bank's Role in Overcoming The Effects of Covid-19 Pandemic

2021 ◽  
Vol 10 (1) ◽  
pp. e58900
Author(s):  
Rafaela Mello Rodrigues De Sá
Keyword(s):  
Present Article ◽  
Economic Crisis ◽  
Large Population ◽  
The Other ◽  
Development Bank ◽  
Brics Countries ◽  
New Development ◽  
The World ◽  
World Ranking

Desde o final de 2019, o mundo vem lidando com desafios gerados pela pandemia da Covid-19. Os países que compõem o BRICS têm enfrentado grandes dificuldades, pois todos possuem características que facilitam o contágio do vírus, como por exemplo uma numerosa população. A China foi a primeira a enfrentar a crise, e agora os outros países do BRICS se encontram em posições elevadas no ranking mundial com mais casos de Covid-19. Dessa maneira, o presente artigo visa analisar de que forma o Novo Banco de Desenvolvimento (NBD) vem atuando durante o período de crise econômica gerada pela pandemia, examinando os pacotes de assistência direcionados aos países do BRICS. A partir da análise de documentos oficiais e projetos aprovados pelo banco, é possível constatar que a atuação do NBD é relevante para seus países-membros, os quais já obtiveram US$9 bilhões aprovados pela instituição direcionados ao enfrentamento da pandemia.Palavras-chave: Novo Banco de Desenvolvimento; Covid-19; BRICS.ABSTRACTSince the end of 2019, the world has been dealing with challenges generated by the Covid-19 pandemic. The countries that make up the BRICS have faced great difficulties, mainly because all of them have characteristics that facilitate contagion, such as a large population. China was the first to face the crisis, and now the other BRICS countries are in high positions in the world ranking with more cases of Covid-19. Thus, the present article aims to analyze how the New Development Bank (NDB) has been acting during the period of economic crisis generated by the pandemic, examining the assistance packages targeted at the BRICS countries. From the analysis of official documents and projects approved by the bank, it can be seen that the performance of NDB is relevant for its member countries, which have already obtained US$ 9 billion approved by the institution.Keywords: New Development Bank; COVID-19; BRICS. Recebido em: 03/04/2021 | Aceito em: 14/09/2021. 

Coal's Persistence in the Capitalist World-Economy

2020 ◽  
Vol 6 (2) ◽  
pp. 194-221 ◽  
Author(s):  
Paul K. Gellert ◽  
Paul S. Ciccantell
Keyword(s):  
World Economy ◽  
Industrial Revolution ◽  
Energy Transition ◽  
Ecological Modernization ◽  
World Systems ◽  
Coal Consumption ◽  
The World ◽  
Capitalist World Economy ◽  
Capitalist World

Predominant analyses of energy offer insufficient theoretical and political-economic insight into the persistence of coal and other fossil fuels. The dominant narrative of coal powering the Industrial Revolution, and Great Britain's world dominance in the nineteenth century giving way to a U.S.- and oil-dominated twentieth century, is marred by teleological assumptions. The key assumption that a complete energy “transition” will occur leads some to conceive of a renewable-energy-dominated twenty-first century led by China. After critiquing the teleological assumptions of modernization, ecological modernization, energetics, and even world-systems analysis of energy “transition,” this paper offers a world-systems perspective on the “raw” materialism of coal. Examining the material characteristics of coal and the unequal structure of the world-economy, the paper uses long-term data from governmental and private sources to reveal the lack of transition as new sources of energy are added. The increases in coal consumption in China and India as they have ascended in the capitalist world-economy have more than offset the leveling-off and decline in some core nations. A true global peak and decline (let alone full substitution) in energy generally and coal specifically has never happened. The future need not repeat the past, but technical, policy, and movement approaches will not get far without addressing the structural imperatives of capitalist growth and the uneven power structures and processes of long-term change of the world-system.

Role of New Development Bank and Food Security in the BRICS Countries

2018 ◽  
Vol 27 (2) ◽  
pp. 45-57
Author(s):  
Pintu Kumar ◽  
Prahlad Kumar Bairwa
Keyword(s):  
Food Security ◽  
Development Bank ◽  
Brics Countries ◽  
New Development

scholarly journals The new structural economics: patient capital as a comparative advantage

2017 ◽  
Vol 1 (1) ◽  
pp. 4 ◽  
Author(s):  
Justin Yifu Lin ◽  
Yan Wang
Keyword(s):  
Comparative Advantage ◽  
World Economy ◽  
Institutional Factors ◽  
Capital Account ◽  
Public Infrastructure ◽  
Short Term ◽  
Capital Account Liberalization ◽  
The World ◽  
New Structural Economics

The world economy needs a growth-lifting strategy, and infrastructure financing seems to hold the key. Based on the New Structural Economics (Lin, 2010; 2012) we discuss the heterogeneity of capital focusing on the long-term versus short-term orientation (STO). Traditional neoliberalism assumes that capital is homogenous, complete capital account liberalization is “beneficial”.However, previous studies have found evidence of long-term orientation (LTO) in the culture of many Asian economies (Hofstede, 1991). In this exploratory paper, we suggest that the LTO can be considered a special endowment which, under certain circumstances, can be developed into a comparative advantage (CA) in patient capital. If these countries can turn their latent CA into arevealed CA in patient capital, and develop the ability to “package” profitable and non-profitable projects in meaningful ways, they would have a “revealed” competitive advantage in infrastructure financing. The ability to “package” public infrastructure and private services is one of the key institutional factors for success in overseas cooperation.

scholarly journals Prospects for Vietnam’s Economy in 2013

2013 ◽  
Vol 215 ◽  
pp. 02-11
Author(s):  
NGÂN TRẦN HOÀNG
Keyword(s):  
Economic Growth ◽  
Growth Rate ◽  
World Economy ◽  
Inflation Rate ◽  
Economic Restructuring ◽  
Short Term ◽  
Economic Growth Model ◽  
The World ◽  
Global Growth

In 2012, Vietnam?s economy faced great challenges. The world economy experienced more difficulties and complicated upheavals. International trade fell drastically while global growth rate was lower than predicted target, which affected badly the Vietnamese economy because of its full integration into the world economy and large openness. In this context, principal targets set for 2013 are macroeconomic stability, lower inflation rate, higher growth rate, three strategic breakthroughs associated with restructuring of the economy, and a new economic growth model. This paper analyzes obstacles to Vietnam?s economic growth, and offers short-term solutions to bottlenecks and long-term ones to the economic restructuring.

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