Sustainable Development Indicators and Their Relationship to GDP: Evidence from Emerging Economies

This paper aims to analyze the metrics the United Nations has set and called the Sustainable Development Goals (SDGs) and their association with the gross domestic product (GDP) in emerging economies. SDGs have been identified to measure healthy development, whereas GDP has historically been used to measure economic health and has been prioritized above many other indicators. This research deploys the feasible generalized least squares (FGLS) and the seemingly unrelated regressions (SUR) on panel data consisting of the five BRIC countries spanning 2000 through 2017 to estimate a regression model that shows the association of SDGs with GDP. The paper concludes that targeting GDP may not lead to achieving overall SDGs.

Virtual exchange for internationalisation at home in China: staff perspectives

Despite the central role of internationalisation strategies in the agendas of universities all over the world – with BRIC countries (Brazil, Russia, India, and China) emerging as powerful regional stakeholders – very few studies have investigated how internationalisation is interpreted and operationalised in non-Western contexts. We offer an exploration of Internationalisation at Home (IaH) (Robson, Almeida, & Schartner, 2018) in the context of Chinese Higher Education (HE) with a focus on the perceptions of staff. This qualitative study investigates how 15 teachers and administrators understand the practice of Virtual Exchange (VE) within their institution’s IaH agenda. Findings show that participants think that VE could contribute to internationalisation and provide an inclusive way of accessing international and intercultural experiences. VE has the potential to enhance internationalisation and global engagement of Chinese HE Institutions (HEIs). At the same time, its implementation presents challenges that require careful consideration and planning. These include means for establishing partnerships with a mutual understanding of realities, unique power dynamics among learner groups, and techno-political challenges.

Competitiveness or complementarity: Analysis of agricultural trade between China and Brazil

The competitiveness and complementarity of trade reflect the advantages and disadvantages of exports and future trade trends. After China joined the WTO, the import and export volume of agricultural products has increased significantly, but the import volume and import growth rate have greatly exceeded the export volume and export growth rate. China is the world’s largest importer of agricultural products, and Brazil has become the world’s largest exporter of agricultural products. As a country with the largest increase in agricultural exports, China and Brazil have close agricultural trade exchanges. China has become Brazil’s largest importer of agricultural products for four consecutive years. In addition, both China and Brazil are BRIC countries; therefore, the establishment of a cooperation mechanism is more conducive to the development of agricultural trade. This study uses quantitative research methods to investigate the agricultural trade between China and Brazil by calculating the revealed comparative advantage index, trade complementarity index, and trade intensity index. The study found that due to the different endowments of agricultural resources and the significant differences in agricultural structure, China and Brazil’s agricultural trade competitiveness is weak and they are highly complementary. The main agricultural products exported by China are labor-intensive processed products (pulp and waste paper, textile fibers, vegetables and fruits), and the main agricultural products exported by Brazil are land-intensive products (oilseeds and oily fruits, vegetable oils, raw hides and furs). Complementary advantages in agricultural trade were analyzed. In the future, the two countries have huge potential for cooperation and development.

The BRICS Countries’ Bilateral Economic Relations, 2009 to 2019: Between Rhetoric and Reality

After Brazil, Russia, India, and China (BRIC) started meeting in the BRIC countries format, and since 2011 with South Africa in the BRICS format, these countries’ leaders made several pledges for strengthening intra-BRICS economic cooperation. This article examines the degree this is reflected in the increase of Chinese Outward Foreign Direct Investment (COFDI) in the other four BRICS countries, the value of Chinese construction contracts, and bilateral trade between China and Brazil, India, Russia South Africa in 2009 to 2019. Focusing on these aspects contributes to the ongoing debate about the institutionalization of the BRICS political grouping. This article demonstrates that, thus far, despite the various pledges, the intensification of intra-BRICS economic cooperation is very limited. With some exemptions due to mega investment deals, COFDI in the other BRICS partners is still reasonably modest and shows no clear trend of increase over time in both absolute and relative figures. There is no significant increase in total trade, and various imbalances and asymmetries remain. Thus, the reality does not mirror the BRICS rhetoric on the intensification of economic cooperation.

The Health Impact Fund: making the case for engagement with pharmaceutical laboratories in Brazil, Russia, India, and China

Despite progress in global health, the general disease burden still disproportionately falls on low- and middle-income countries. The health needs of these countries’ populations are unmet because there is a shortage in drug research and development, as well as a lack of access to essential drugs. This health disparity is especially problematic for diseases associated with poverty, namely neglected tropical diseases and microbial infections. Currently, the pharmaceutical landscape focuses on innovations determined by profit margins and intellectual property protection. To expand drug accessibility and catalyze research and development for neglected diseases, a team of researchers proposed the Health Impact Fund as a potential solution. However, the fund is predominantly considering partnerships with pharmaceutical giants in high-income countries. This commentary explores the limitations and benefits in partnering with pharmaceutical companies based in Brazil, Russia, India, and China (BRIC), with the goal of expanding the Health Impact Fund’s vision to incorporate long-term, local partnerships. Identified limitations to a BRIC country partnership include lower levels of drug development expertise compared to their high-income pharmaceutical counterparts, and whether the Health Impact Fund and the participating stakeholders have the financial capability to assist in bringing a new drug to market. However, potential benefits include the creation of new incentives to fuel competitive local innovation, more equitable routes to drug discovery and development, and a product pipeline that could involve stakeholders in lower- and middle-income countries. Our commentary explores how partnership with pharmaceutical firms in BRIC countries might be advantageous for all: The Health Impact Fund, pharmaceutical companies in BRIC economies, and stakeholders in low- and middle- income countries.

Economic policy uncertainty and stock prices in BRIC countries: evidence from asymmetric frequency domain causality approach

Purpose The aim of this study is to investigate the relationship between economic policy uncertainty (EPU) and stock prices during the period from March 2003 to March 2021. Design/methodology/approach The study uses asymmetric and symmetric frequency domain causality tests and focuses on BRIC countries, namely, Brazil, Russia, India and China. Findings The findings of the symmetric causality test confirm unidirectional permanent causality from EPU to stock prices for Brazil and India and bidirectional causality for China. However, according to the asymmetric causality test, the findings for China show that there is no causality between the variables. The results for Brazil and India indicate that there is unidirectional permanent causality from positive components of EPU to positive components of stock prices. Moreover, for Brazil, there is unidirectional temporary causality from the negative components of EPU to the negative components of stock prices. For India, there is temporary causality in the opposite direction. Originality/value The reactions of financial markets to positive and negative shocks differ. In this context, to the best of the authors’ knowledge, this study is the first attempt to examine the causal relationships between stock prices and uncertainty using an asymmetric frequency domain approach. Thus, the study enables the analysis of the effects of positive and negative shocks in the stock market separately.

BRIC Bilateral Direct Foreign Investment Relations with South Africa: A Critical Review

This article explores the Brazil-Russia-India-China (BRIC) countries’ bilateral foreign investment relations with South Africa. It analyses investment patterns through the lens of the South African Foreign Investment Policy, and provides recommendations for the country to increase foreign investment from the BRIC. The article utilises a qualitative desktop approach, drawing from extensive literature review on BRICS’ foreign investment relations. The findings show that, despite the numerous foreign investment treaties signed within BRIC in South Africa’s favour, investments from BRIC are lagging. To increase direct investment flows, South Africa should relax entry and offer special incentives in critical sectors; such as energy, health, food production and mining; create a more stable and transparent legal environment; establish special and industrial economic zones as well as a clear foreign investment policy.