BRICS Countries’ Increasing Role in the world economy, Including Institutional Innovation

نویسندگان

چکیده

This paper seeks to determine whether the BRICS group has lived up expectations that their influence in international economic governance will increase. Stellar performance and resulting well-being are important factors may cause this grow. However, there been increasing recognition welfare does not depend merely on income but a broader set of indicators as exemplified by Millennium Development Goals (MDGs) or Sustainable (SDGs). increase through achievements social front soft power. Using simple statistical methods examine macroeconomic found only China India had done well initial expectations. The have also limited. sought translate dissatisfaction with IMF World Bank into establishment New (NDB) provide loans for infrastructure projects Contingent Reserve Arrangement (CRA) cover needs financing balance payments deficits. examines working these organizations find out if they successful meeting objectives. results analysis allows us conclude NDB successful, unlike CRA, which proved be ineffective.

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ژورنال

عنوان ژورنال: BRICS journal of economics

سال: 2023

ISSN: ['2712-7508', '2712-7702']

DOI: https://doi.org/10.3897/brics-econ.4.e99451