Analysing the Nexus between Innovation and Knowledge Sharing among Small and Medium Enterprises (SMEs) in Promoting Development in BRICS Countries
Jerit Dube
Small and medium-sized enterprises (SMEs) in the informal sector of Brazil, Russia, India, China, and South Africa (BRICS) play a critical role in boosting their nations’ economies. Informal entrepreneurship is an important source of economic development thanks to knowledge sharing and innovation extensively employed in this area. The BRICS countries are viewed as leaders in economic development, innovation, and knowledge transfer among developing countries; abundant research into the factors of their success has so far paid insufficient attention to the relationship between innovation and knowledge generated by the SMEs and their role in promoting the BRICS countries’ development. This paper attempts to narrow the gap by critically analysing the nexus between innovation and knowledge sharing among informal small and medium-sized enterprises in these countries. It offers a systematic review of academic sources obtained from EBSCOhost followed by a thematic analysis of secondary data and a discussion of its results, which, as we hope, will provide insights for development practitioners and researchers in BRICS countries.
Read the full article on our journal's website
https://brics-econ.arphahub.com/article/127124/
The publications in our journal is free of charge for the readers thanks to the support of VTB.
Jerit Dube
Small and medium-sized enterprises (SMEs) in the informal sector of Brazil, Russia, India, China, and South Africa (BRICS) play a critical role in boosting their nations’ economies. Informal entrepreneurship is an important source of economic development thanks to knowledge sharing and innovation extensively employed in this area. The BRICS countries are viewed as leaders in economic development, innovation, and knowledge transfer among developing countries; abundant research into the factors of their success has so far paid insufficient attention to the relationship between innovation and knowledge generated by the SMEs and their role in promoting the BRICS countries’ development. This paper attempts to narrow the gap by critically analysing the nexus between innovation and knowledge sharing among informal small and medium-sized enterprises in these countries. It offers a systematic review of academic sources obtained from EBSCOhost followed by a thematic analysis of secondary data and a discussion of its results, which, as we hope, will provide insights for development practitioners and researchers in BRICS countries.
Read the full article on our journal's website
https://brics-econ.arphahub.com/article/127124/
The publications in our journal is free of charge for the readers thanks to the support of VTB.
BRICS Journal of Economics
Analysing the Nexus between Innovation and Knowledge Sharing among Small and Medium Enterprises (SMEs) in Promoting Development…
Small and medium-sized enterprises (SMEs) in the informal sector of Brazil, Russia, India, China, and South Africa (BRICS) play a critical role in boosting their nations’ economies. Informal entrepreneurship is an important source of economic development…
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BJE`s fourth issue of 2024 explores key topics on global trade, cooperation, and economic dynamics. Articles discuss the significance of BRICS expansion, China's role in future cooperation, and digital diplomacy for Russia's Olympic movement. Other studies examine financial contagion during COVID-19, exchange rate systems and financial markets in BRICS and Africa, and institutional influences on foreign investment in Southern Africa.
BRICS Journal of Economics
BRICS Journal of Economics is an international peer-reviewed, open access journal, providing a platform for the dissemination of original research on contemporary economic trends in middle-income developing countries. The journal publishes scientific articles…
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Is BRICS Expansion Significant for Global Trade and GDP?
Sushil Kumar, Afsah Shahid, Manmohan Agarwal
Five members of the BRICS association had invited six other countries, Argentina, Ethiopia, Egypt, Iran, Saudi Arabia and the UAE to join the group from 1 January 2024; four of these accepted the invitation. The paper discusses the critical questions as to whether this expansion will enable the BRICS+ to become a greater contributor to the world GDP and trade, and if the intra-BRICS trade will be more significant than it is now. We expect the share of expanded BRICS in the global GDP to increase by 3%, reaching 28% and the share in the world trade to increase by 5%; the intra-BRICS trade should also rise by 5%. The intra-BRICS trade of the old members has grown considerably over the years. The share of exports by the new members is not large; it increases for some of them and decreases for others, with exports to the older members being much greater than those to the newer members.
Read the full article on our journal's website
https://brics-econ.arphahub.com/article/139877/
Sushil Kumar, Afsah Shahid, Manmohan Agarwal
Five members of the BRICS association had invited six other countries, Argentina, Ethiopia, Egypt, Iran, Saudi Arabia and the UAE to join the group from 1 January 2024; four of these accepted the invitation. The paper discusses the critical questions as to whether this expansion will enable the BRICS+ to become a greater contributor to the world GDP and trade, and if the intra-BRICS trade will be more significant than it is now. We expect the share of expanded BRICS in the global GDP to increase by 3%, reaching 28% and the share in the world trade to increase by 5%; the intra-BRICS trade should also rise by 5%. The intra-BRICS trade of the old members has grown considerably over the years. The share of exports by the new members is not large; it increases for some of them and decreases for others, with exports to the older members being much greater than those to the newer members.
Read the full article on our journal's website
https://brics-econ.arphahub.com/article/139877/
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A New Era of “Greater BRICS Cooperation”: The Future of the World and China’s Role
Wen Wang, Chen Long
After the expansion of BRICS, its cooperation mechanism has officially transitioned to a new phase termed “Greater BRICS Cooperation”. This paper explores methods to enhance collaboration among the greater BRICS nations from the perspective of China. Employing textual and empirical analysis, this study observes that the developmental disparities between the global North and South have gradually diminished, amplifying the eagerness and capacity of developing nations to engage in global governance. Simultaneously, the original BRICS cooperation framework faces pressure to adapt alongside changes in its member composition. As a prominent BRICS member, China is urged to leverage its developmental expertise to drive standardized expansion protocols and foster internal and external cooperation. Internally, the association needs to standardize expansion procedures, enhance the institutional framework, and boost professionalism. Externally, it should establish a BRICS regional cooperation committee and strengthen ties with international organizations. These efforts aim to propel high-quality development and comprehensive advancement within the BRICS cooperation mechanism.
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https://brics-econ.arphahub.com/article/129530/
Wen Wang, Chen Long
After the expansion of BRICS, its cooperation mechanism has officially transitioned to a new phase termed “Greater BRICS Cooperation”. This paper explores methods to enhance collaboration among the greater BRICS nations from the perspective of China. Employing textual and empirical analysis, this study observes that the developmental disparities between the global North and South have gradually diminished, amplifying the eagerness and capacity of developing nations to engage in global governance. Simultaneously, the original BRICS cooperation framework faces pressure to adapt alongside changes in its member composition. As a prominent BRICS member, China is urged to leverage its developmental expertise to drive standardized expansion protocols and foster internal and external cooperation. Internally, the association needs to standardize expansion procedures, enhance the institutional framework, and boost professionalism. Externally, it should establish a BRICS regional cooperation committee and strengthen ties with international organizations. These efforts aim to propel high-quality development and comprehensive advancement within the BRICS cooperation mechanism.
Read the full article on our journal's website
https://brics-econ.arphahub.com/article/129530/
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BRICS+ Digital Diplomacy for Russia’s Olympic Movement Development
Lyubov Ganeeva, Alexandra Nikiforova
The paper explores the potential for cooperation between the BRICS+ countries in digitization of international sports; it seeks to identify the most promising ways of joint action to advance the use of digital tools for the development of the Olympic movement. The research objective is to determine forms of digital diplomacy for the BRICS+ members that may assist Russia in promoting its Olympic activities. Based on the data from the United Nations’ “e-Government Knowledge” (United Nations, 2022), the Ministry of Digital Development of Russia, Federal Statistics Service and Higher School of Economics (Anisimov et al, 2023) have established four broad categories of indicators to measure the development of digital economy and society. These indicators are expected to become a valuable tool of advancing the Russian Olympic movement. The authors have identified the leading countries in digital development within the BRICS+ association and pointed out the most significant benefits of cooperation within this alliance that should contribute to the development of Olympic education, marketing and information support.
Read the full article on our journal's website
https://brics-econ.arphahub.com/article/132092/
Lyubov Ganeeva, Alexandra Nikiforova
The paper explores the potential for cooperation between the BRICS+ countries in digitization of international sports; it seeks to identify the most promising ways of joint action to advance the use of digital tools for the development of the Olympic movement. The research objective is to determine forms of digital diplomacy for the BRICS+ members that may assist Russia in promoting its Olympic activities. Based on the data from the United Nations’ “e-Government Knowledge” (United Nations, 2022), the Ministry of Digital Development of Russia, Federal Statistics Service and Higher School of Economics (Anisimov et al, 2023) have established four broad categories of indicators to measure the development of digital economy and society. These indicators are expected to become a valuable tool of advancing the Russian Olympic movement. The authors have identified the leading countries in digital development within the BRICS+ association and pointed out the most significant benefits of cooperation within this alliance that should contribute to the development of Olympic education, marketing and information support.
Read the full article on our journal's website
https://brics-econ.arphahub.com/article/132092/
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Financial contagion of the Russian stock market from the Chinese stock market during the Covid-19 pandemic
Marina Malkina, Dmitry Rogachev
The paper explores the financial contagion of the Russian stock market from the Chinese stock market during the global COVID-19 pandemic. Its objectives are to confirm or refute the contagion of these markets during the acute phase of the pandemic and establish the direction, intensity and types of contagion. The study employed average daily values of the RTSI (Moscow exchange) and HSI (Hong Kong stock exchange) indices. To distinguish between the period of exposure of the two countries’ assets to an external shock and the period of relatively calm markets, we calculated the moving normalized coefficients of variation. To test for the presence of contagion, we constructed vector autoregression (VAR) models for the logarithmic returns RTSI with an exogenous variable of the logarithmic returns HSI in the pre-crisis, crisis and post-crisis periods, estimated the coefficients for HSI and established their significance. The intensity of contagion was determined by the change in the contribution of the tested variable (HSI) to the variance of the dependent variable (RTSI) during the crisis period compared to the pre-crisis and post-crisis periods. The Granger causality test allowed us to establish the direction of contagion; the types of contagion were identified using the method of co-moments of return distribution. The study confirmed the existence of contagion from Chinese to Russian stock market during the acute phase of the pandemic and proved its directionality (HSI→RTSI), and the decomposition of the coefficient of determination established the intensity of the contagion. In the post-crisis period, market interdependence was observed, caused by incompleteness of the pandemic crisis and changes in contagion foci. Contagion during the crisis occurred in the form of an increase in the lower co-moments of distribution (the impact of HSI returns on RTSI returns, volatility and asymmetry) compared to the pre-crisis period, and manifested itself in the upper co-moments of distribution and market anomalies compared to the post-crisis period. The research results may assist in formulating policies aimed at maintaining financial stability; they will also be useful for investment portfolio optimization.
Read the full article on our journal's website
https://brics-econ.arphahub.com/article/139618/
Marina Malkina, Dmitry Rogachev
The paper explores the financial contagion of the Russian stock market from the Chinese stock market during the global COVID-19 pandemic. Its objectives are to confirm or refute the contagion of these markets during the acute phase of the pandemic and establish the direction, intensity and types of contagion. The study employed average daily values of the RTSI (Moscow exchange) and HSI (Hong Kong stock exchange) indices. To distinguish between the period of exposure of the two countries’ assets to an external shock and the period of relatively calm markets, we calculated the moving normalized coefficients of variation. To test for the presence of contagion, we constructed vector autoregression (VAR) models for the logarithmic returns RTSI with an exogenous variable of the logarithmic returns HSI in the pre-crisis, crisis and post-crisis periods, estimated the coefficients for HSI and established their significance. The intensity of contagion was determined by the change in the contribution of the tested variable (HSI) to the variance of the dependent variable (RTSI) during the crisis period compared to the pre-crisis and post-crisis periods. The Granger causality test allowed us to establish the direction of contagion; the types of contagion were identified using the method of co-moments of return distribution. The study confirmed the existence of contagion from Chinese to Russian stock market during the acute phase of the pandemic and proved its directionality (HSI→RTSI), and the decomposition of the coefficient of determination established the intensity of the contagion. In the post-crisis period, market interdependence was observed, caused by incompleteness of the pandemic crisis and changes in contagion foci. Contagion during the crisis occurred in the form of an increase in the lower co-moments of distribution (the impact of HSI returns on RTSI returns, volatility and asymmetry) compared to the pre-crisis period, and manifested itself in the upper co-moments of distribution and market anomalies compared to the post-crisis period. The research results may assist in formulating policies aimed at maintaining financial stability; they will also be useful for investment portfolio optimization.
Read the full article on our journal's website
https://brics-econ.arphahub.com/article/139618/
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Fixed/Floating Exchange Rate Systems, Health Crisis and Financial Markets of BRICS/Africa: Generalized Linear Model (GLM) Estimations
David Umoru, Rafat Hussaini, Beauty Igbinovia, Enike I. Abu
The fixed and floating exchange rate systems exhibit essential differences. The paper attempts to provide empirical clarification concerning the type of exchange rate regime that has the most favourable impact on stock market returns and prices of the BRICS and African markets using the GLM regression method. The results are based on the inverse Gaussian functions and also identity and 1og functions of the estimated generalized linear model. The fixed exchange regime impacted adversely and significantly on the stock prices of both stock markets. The floating regime impacted favourably and significantly on the stock prices of the BRICS and African stock markets at the inverse Gaussian and Gamma identities. Whereas the fixed regime impacted adversely on stock returns of the BRICS markets at Gaussian identity, it impacted positively but rather insignificantly on the performance of stock returns of African markets. For African stock markets, both the floating and fixed regimes impacted stock returns positively, but the impact of the fixed regime is significant and also of a higher magnitude compared to that of the floating regime (17.313>10.885) HIV and Covid-19 deaths have significant inverse effects on stock prices of African stock markets. For the BRICS markets, the effect of Covid-19 on prices and returns was negative but insignificant. Only stock return effect of HIV was adverse and significant for the BRICS markets. The research findings will be useful for financial marketers involved in international financial trade and seeking to align with developments in international financial markets.
Read the full article on our journal's website
https://brics-econ.arphahub.com/article/137243/
David Umoru, Rafat Hussaini, Beauty Igbinovia, Enike I. Abu
The fixed and floating exchange rate systems exhibit essential differences. The paper attempts to provide empirical clarification concerning the type of exchange rate regime that has the most favourable impact on stock market returns and prices of the BRICS and African markets using the GLM regression method. The results are based on the inverse Gaussian functions and also identity and 1og functions of the estimated generalized linear model. The fixed exchange regime impacted adversely and significantly on the stock prices of both stock markets. The floating regime impacted favourably and significantly on the stock prices of the BRICS and African stock markets at the inverse Gaussian and Gamma identities. Whereas the fixed regime impacted adversely on stock returns of the BRICS markets at Gaussian identity, it impacted positively but rather insignificantly on the performance of stock returns of African markets. For African stock markets, both the floating and fixed regimes impacted stock returns positively, but the impact of the fixed regime is significant and also of a higher magnitude compared to that of the floating regime (17.313>10.885) HIV and Covid-19 deaths have significant inverse effects on stock prices of African stock markets. For the BRICS markets, the effect of Covid-19 on prices and returns was negative but insignificant. Only stock return effect of HIV was adverse and significant for the BRICS markets. The research findings will be useful for financial marketers involved in international financial trade and seeking to align with developments in international financial markets.
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https://brics-econ.arphahub.com/article/137243/
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Institutions as a determinant of foreign direct investment inflows into the Southern African Development Community
Gabila Nubong
Foreign Direct Investment (FDI) in Southern Africa has been one of the drivers of infrastructure development and economic growth, especially in mining, agriculture, energy, information, and communications technology (ICT). Some of the SADC countries have undertaken serious economic and institutional reforms to encourage the inflow of FDI, particularly to low-income countries of the region, but these efforts have not so far led to the expected increases in investment: the overall amount of FDI remains low, it is concentrated in very few countries and mostly goes to the extraction of natural resources.
Institutions and infrastructure development typically have a positive effect on FDI inflows as they improve investment climate. To examine their role in boosting the FDI flows to the SADC countries, the paper uses panel data econometric analysis with OLS and PCSE. Its results show that the quality of governance, together with the level of economic development, market size, and openness to international trade are the main factors that determine the amounts of FDI flowing into the SADC countries. For some areas, however, the primary need is to combat the rampant corruption and reduce political instability.
Read the full article on our journal's website
https://brics-econ.arphahub.com/article/125507/
Gabila Nubong
Foreign Direct Investment (FDI) in Southern Africa has been one of the drivers of infrastructure development and economic growth, especially in mining, agriculture, energy, information, and communications technology (ICT). Some of the SADC countries have undertaken serious economic and institutional reforms to encourage the inflow of FDI, particularly to low-income countries of the region, but these efforts have not so far led to the expected increases in investment: the overall amount of FDI remains low, it is concentrated in very few countries and mostly goes to the extraction of natural resources.
Institutions and infrastructure development typically have a positive effect on FDI inflows as they improve investment climate. To examine their role in boosting the FDI flows to the SADC countries, the paper uses panel data econometric analysis with OLS and PCSE. Its results show that the quality of governance, together with the level of economic development, market size, and openness to international trade are the main factors that determine the amounts of FDI flowing into the SADC countries. For some areas, however, the primary need is to combat the rampant corruption and reduce political instability.
Read the full article on our journal's website
https://brics-econ.arphahub.com/article/125507/
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BRICS yesterday, today and tomorrow: unpacking the peculiarities going forward from South African perspective
Byelongo Elisée Isheloke
South Africa (SA) joined BRICS in 2010. The study explores the impact of its partnership with the BRICS group on mineral beneficiation in South Africa (SA) from its inception. The BRICS association, that had originally sought to deal with economic issues the founding members faced, became a full-fledged “umbrella organization”, which factors into its engagements a variety of issues including those of policy and polity, economy and culture and certainly the relations between the member countries.
The study culminates in designing a Mineral Beneficiation Model proposed to South Africa with the aim to enhance the cooperation between Brazil, Russia, India, China and South Africa in mining; beyond that, it addresses issues pertaining to the aftermath of the association’s metamorphosis into BRICS Plus.
In South Africa, up to 54 different minerals are extracted from its mines every day, of which a huge quantity is exported abroad to the detriment of local beneficiation entrepreneurs. The BRICS Business Council has previously identified three priorities: infrastructure development, mining beneficiation and mineral beneficiation. At that time, the mining sector contributed around 8% to the South African GDP, but there was not no agreement upon mineral beneficiation model. The involvement of BRICS partners in the extractive industry, however, required interventions to promote mining synergies. The authors sought to develop a model based on the data collected mainly through interviews and questionnaires. The study targeted 79 mining and related companies. A 30% response rate was achieved for the quantitative part of the study and 80% of participants, company representatives among them, were interviewed. The study has shown that South Africa needs to embrace beneficiation and achieve synergy effects when working with the other BRICS Plus members.
Read the full article on our journal's website
https://brics-econ.arphahub.com/article/131085/
The publications in our journal is free of charge for the readers thanks to the support of VTB.
Byelongo Elisée Isheloke
South Africa (SA) joined BRICS in 2010. The study explores the impact of its partnership with the BRICS group on mineral beneficiation in South Africa (SA) from its inception. The BRICS association, that had originally sought to deal with economic issues the founding members faced, became a full-fledged “umbrella organization”, which factors into its engagements a variety of issues including those of policy and polity, economy and culture and certainly the relations between the member countries.
The study culminates in designing a Mineral Beneficiation Model proposed to South Africa with the aim to enhance the cooperation between Brazil, Russia, India, China and South Africa in mining; beyond that, it addresses issues pertaining to the aftermath of the association’s metamorphosis into BRICS Plus.
In South Africa, up to 54 different minerals are extracted from its mines every day, of which a huge quantity is exported abroad to the detriment of local beneficiation entrepreneurs. The BRICS Business Council has previously identified three priorities: infrastructure development, mining beneficiation and mineral beneficiation. At that time, the mining sector contributed around 8% to the South African GDP, but there was not no agreement upon mineral beneficiation model. The involvement of BRICS partners in the extractive industry, however, required interventions to promote mining synergies. The authors sought to develop a model based on the data collected mainly through interviews and questionnaires. The study targeted 79 mining and related companies. A 30% response rate was achieved for the quantitative part of the study and 80% of participants, company representatives among them, were interviewed. The study has shown that South Africa needs to embrace beneficiation and achieve synergy effects when working with the other BRICS Plus members.
Read the full article on our journal's website
https://brics-econ.arphahub.com/article/131085/
The publications in our journal is free of charge for the readers thanks to the support of VTB.
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BJE’s first issue of 2025 presents fresh research on macroeconomic dynamics, corporate governance, and regional development. Articles explore Pakistan’s GDP drivers, banking sector performance in Nigeria, and CSR’s role in employer branding. Other studies examine financial contagion from China to Russia, inflation and political instability in Afghanistan, and stock market volatility in MENA. The issue also covers Sino-Russian e-commerce logistics, talent attraction through mentoring, innovation in SMEs, and energy-growth links in the SADC region.
BRICS Journal of Economics
BRICS Journal of Economics is an international peer-reviewed, open access journal, providing a platform for the dissemination of original research on contemporary economic trends in middle-income developing countries. The journal publishes scientific articles…
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Analyzing the Role of Key Macroeconomic Indicators relating to Pakistan’s GDP Growth: A Time-Series Examination
Imran Ali, Vladislav Gusev, Linara Khadimullina
Economic landscape of Pakistan is determined by an extremely complex interaction of domestic and global forces; navigating it successfully requires a clear understanding of its character. The paper explores the dynamic relationships between macroeconomic variables and GDP growth in Pakistan using the Autoregressive Distributed Lag (ARDL) model and other stability tests using time series data from 1980 to 2022. The analysis includes variables representing GDP per capita, inflation, imports, total debt as a percentage of GDP, total population, and forestry and agricultural output. The correlation matrix shows a positive association between GDP growth rate and GDP per capita, total debt service is inversely correlated with total population, and GDP demonstrates a significant negative correlation. The ARDL results indicate that GDP per capita and the agriculture and forestry sectors are significant drivers of economic growth. Over the period in question, inflation only marginally affected GDP growth showing how important it is to maintain price stability through effective policies. Imports provide short-term benefits by enhancing productivity through capital goods and technology inflows but they may pose long-term challenges due to trade imbalances. The influence of population growth appears to be ambivalent: in the short term it contributes to economic growth by increasing labor supply and consumption; in the long term, however, its effect may become detrimental owing to resource constraints. Public debt shows little influence in the short term but negatively impacts growth over time by increasing the fiscal burden of debt servicing. These findings suggest that to achieve long-term economic stability and growth, the country needs targeted policy interventions that should help it control inflation, manage the debt sustainably, optimize imports, and invest in agriculture, which is an important determinant of GDP growth. Future research should concentrate on sector-specific studies and the effects of political stability on economic growth in order to provide deeper insights contributing to Pakistan’s sustainable economic development.
Read the full article on our journal's website
https://brics-econ.arphahub.com/article/128607/
Imran Ali, Vladislav Gusev, Linara Khadimullina
Economic landscape of Pakistan is determined by an extremely complex interaction of domestic and global forces; navigating it successfully requires a clear understanding of its character. The paper explores the dynamic relationships between macroeconomic variables and GDP growth in Pakistan using the Autoregressive Distributed Lag (ARDL) model and other stability tests using time series data from 1980 to 2022. The analysis includes variables representing GDP per capita, inflation, imports, total debt as a percentage of GDP, total population, and forestry and agricultural output. The correlation matrix shows a positive association between GDP growth rate and GDP per capita, total debt service is inversely correlated with total population, and GDP demonstrates a significant negative correlation. The ARDL results indicate that GDP per capita and the agriculture and forestry sectors are significant drivers of economic growth. Over the period in question, inflation only marginally affected GDP growth showing how important it is to maintain price stability through effective policies. Imports provide short-term benefits by enhancing productivity through capital goods and technology inflows but they may pose long-term challenges due to trade imbalances. The influence of population growth appears to be ambivalent: in the short term it contributes to economic growth by increasing labor supply and consumption; in the long term, however, its effect may become detrimental owing to resource constraints. Public debt shows little influence in the short term but negatively impacts growth over time by increasing the fiscal burden of debt servicing. These findings suggest that to achieve long-term economic stability and growth, the country needs targeted policy interventions that should help it control inflation, manage the debt sustainably, optimize imports, and invest in agriculture, which is an important determinant of GDP growth. Future research should concentrate on sector-specific studies and the effects of political stability on economic growth in order to provide deeper insights contributing to Pakistan’s sustainable economic development.
Read the full article on our journal's website
https://brics-econ.arphahub.com/article/128607/
Tobin-Q Valuation Methodology of the Impact of Corporate Governance Structure on Organizational Performance: Evidence from Nigeria’s Banking Sector
Ayodeji Ajibola
The paper investigates the relationship between corporate governance and organizational performance in Nigeria’s banking sector between 1996 and 2023, using the Tobin-Q valuation and operating performance methodology (quantitative characteristics) of variables in analyzing data collected from secondary sources.
The internal mechanisms of corporate governance such as Returns on Assets (ROA), shareholder profit and Debt-Equity ratio had a negative impact on organizational performance. The study into forecast and long-term co-integration relationship between corporate governance mechanisms and organizational performance has shown that the enhancement of organizational performance by corporate governance mechanisms is likely to experience a steady increase after 2023.
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https://brics-econ.arphahub.com/article/134961/
Ayodeji Ajibola
The paper investigates the relationship between corporate governance and organizational performance in Nigeria’s banking sector between 1996 and 2023, using the Tobin-Q valuation and operating performance methodology (quantitative characteristics) of variables in analyzing data collected from secondary sources.
The internal mechanisms of corporate governance such as Returns on Assets (ROA), shareholder profit and Debt-Equity ratio had a negative impact on organizational performance. The study into forecast and long-term co-integration relationship between corporate governance mechanisms and organizational performance has shown that the enhancement of organizational performance by corporate governance mechanisms is likely to experience a steady increase after 2023.
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https://brics-econ.arphahub.com/article/134961/
Corporate Social Responsibility employer branding and employee attraction and retention: review of literature and research agenda
Aleksandr Ivanov
This paper concerns Corporate Social Responsibility (CSR) employer branding and its impact on employee attraction and retention, seeking to systematize academic knowledge about their interconnections and links to other important management issues. We made a systematic literature review focusing on empirical papers published in academic journals over the last 10 years, which enabled us to identify the directions of contemporary research, commonly used methodologies and contexts explored. It shows that CSR initiatives are increasingly recognized as a critical dimension of employer branding. Alignment of CSR practices and employer branding strategies is essential for attracting top talent. We also observed a strong link between CSR and employer attractiveness, career development, organizational identification, corporate reputation and person-organization fit, which underscores the multifaceted nature of CSR employer branding. It has been found that CSR researchers predominantly use quantitative methodologies in their studies and tend to explore the firms that work in the IT industry. The paper discusses the current state of CSR employer branding research and outlines possible avenues for future studies.
Read the full article on our journal's website
https://brics-econ.arphahub.com/article/136887/
Aleksandr Ivanov
This paper concerns Corporate Social Responsibility (CSR) employer branding and its impact on employee attraction and retention, seeking to systematize academic knowledge about their interconnections and links to other important management issues. We made a systematic literature review focusing on empirical papers published in academic journals over the last 10 years, which enabled us to identify the directions of contemporary research, commonly used methodologies and contexts explored. It shows that CSR initiatives are increasingly recognized as a critical dimension of employer branding. Alignment of CSR practices and employer branding strategies is essential for attracting top talent. We also observed a strong link between CSR and employer attractiveness, career development, organizational identification, corporate reputation and person-organization fit, which underscores the multifaceted nature of CSR employer branding. It has been found that CSR researchers predominantly use quantitative methodologies in their studies and tend to explore the firms that work in the IT industry. The paper discusses the current state of CSR employer branding research and outlines possible avenues for future studies.
Read the full article on our journal's website
https://brics-econ.arphahub.com/article/136887/
Networks as part of strategy design for digital platform development in China
Arshad Mokhammad
The ongoing digital transformation provides an infrastructural basis for multi-level networking. The United States and China as the leaders in designing long-term social and economic development strategies pay serious attention to technological sovereignty and sustainable interaction between the corporate and public sectors that are impossible without reliable digital infrastructure. Digital platforms have become its most important component, creating prerequisites for the formation and development of various network structures. The paper discusses the subordinate effects resulting from the development of digital platforms as part of digitalization. Today, global value chains are being transformed, changing the global reproduction system; the reproduction process is also influenced by digital transformation; technological development and innovations bring new opportunities and transform all aspects of socioeconomic interaction. The methodological basis of the study is constituted by the system approach, comparative analysis and statistical methods. The paper examines the prospects of digital platforms in the PRC both for the national economy and international cooperation and proposes guidelines on their strategic development. It describes the specific features of financing their formation and systematizes the characteristics of networking in the sphere of e-commerce, cloud services and investment cooperation. Addressing the social aspect of using digital platforms, the study emphasizes the importance of social monitoring and migration controls that give the country a competitive advantage in developing and testing the technologies involved. It also shows that platform employment and digital poverty create multidirectional trends affecting the country’s economic development.
Read the full article on our journal's website
https://brics-econ.arphahub.com/article/136888/
Arshad Mokhammad
The ongoing digital transformation provides an infrastructural basis for multi-level networking. The United States and China as the leaders in designing long-term social and economic development strategies pay serious attention to technological sovereignty and sustainable interaction between the corporate and public sectors that are impossible without reliable digital infrastructure. Digital platforms have become its most important component, creating prerequisites for the formation and development of various network structures. The paper discusses the subordinate effects resulting from the development of digital platforms as part of digitalization. Today, global value chains are being transformed, changing the global reproduction system; the reproduction process is also influenced by digital transformation; technological development and innovations bring new opportunities and transform all aspects of socioeconomic interaction. The methodological basis of the study is constituted by the system approach, comparative analysis and statistical methods. The paper examines the prospects of digital platforms in the PRC both for the national economy and international cooperation and proposes guidelines on their strategic development. It describes the specific features of financing their formation and systematizes the characteristics of networking in the sphere of e-commerce, cloud services and investment cooperation. Addressing the social aspect of using digital platforms, the study emphasizes the importance of social monitoring and migration controls that give the country a competitive advantage in developing and testing the technologies involved. It also shows that platform employment and digital poverty create multidirectional trends affecting the country’s economic development.
Read the full article on our journal's website
https://brics-econ.arphahub.com/article/136888/
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Stock Markets Returns and Interactive Effects of Economic Policy Uncertainty and Exchange Rate Volatility: Evidence from MENA Markets
David Umoru, Enike Imran Abu, Beauty Igbinovia, Georgina Asemota, Ahinkweokhai Igbafe, Henry Imogiemhe Idogun
This research aims to investigate the influence of stock market volatility and liquidity turnover on returns in the emerging markets of Middle East and North Africa (MENA countries) using the interaction of global economic policy uncertainty index and exchange rate as a moderating variable. The paper employs panel quantile regression with daily data from January 1, 2000 to August 30, 2024 and a panel quantile regression sensitivity analysis. The findings suggest that the U. S. economic policy uncertainty index was markedly negative; the negative and significant interaction coefficient between the variables of exchange rate fluctuations and worldwide economic policy uncertainty indicates that stock returns of the MENA markets dropped substantially in response to international economic policy uncertainty; the more extensively the exchange rate fluctuated, the lower were the returns. Empirical evidence reveals shifting dynamics in the impact of short-term interest rate volatility on returns as we move from the period before the pandemic outbreak to the post-pandemic era. The study has notable implications for financial investors. Markets’ response to interest rate volatility cannot be predicted with high degree of certainty because the market reacts spontaneously to adjustments in the short-term interest rate even when market players operate rationally and base their decisions on all available information regarding stock prices. As a result, investors may choose to consider selecting shorter-life alternative equities as a long-term hedge against interest rate volatility risk. The MENA countries’ central monetary authorities and governments should work jointly to maintain stock market stability by enacting measures to make stock exchanges and the equity markets more resilient to the negative effects of uncertainty brought on by foreign economic policy, even as exchange rate volatility rises. Additionally, international business entities and traders could also shield themselves against international economic policy-related risk of uncertainty in the midst of currency volatility given the current research.
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https://brics-econ.arphahub.com/article/142917/
David Umoru, Enike Imran Abu, Beauty Igbinovia, Georgina Asemota, Ahinkweokhai Igbafe, Henry Imogiemhe Idogun
This research aims to investigate the influence of stock market volatility and liquidity turnover on returns in the emerging markets of Middle East and North Africa (MENA countries) using the interaction of global economic policy uncertainty index and exchange rate as a moderating variable. The paper employs panel quantile regression with daily data from January 1, 2000 to August 30, 2024 and a panel quantile regression sensitivity analysis. The findings suggest that the U. S. economic policy uncertainty index was markedly negative; the negative and significant interaction coefficient between the variables of exchange rate fluctuations and worldwide economic policy uncertainty indicates that stock returns of the MENA markets dropped substantially in response to international economic policy uncertainty; the more extensively the exchange rate fluctuated, the lower were the returns. Empirical evidence reveals shifting dynamics in the impact of short-term interest rate volatility on returns as we move from the period before the pandemic outbreak to the post-pandemic era. The study has notable implications for financial investors. Markets’ response to interest rate volatility cannot be predicted with high degree of certainty because the market reacts spontaneously to adjustments in the short-term interest rate even when market players operate rationally and base their decisions on all available information regarding stock prices. As a result, investors may choose to consider selecting shorter-life alternative equities as a long-term hedge against interest rate volatility risk. The MENA countries’ central monetary authorities and governments should work jointly to maintain stock market stability by enacting measures to make stock exchanges and the equity markets more resilient to the negative effects of uncertainty brought on by foreign economic policy, even as exchange rate volatility rises. Additionally, international business entities and traders could also shield themselves against international economic policy-related risk of uncertainty in the midst of currency volatility given the current research.
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https://brics-econ.arphahub.com/article/142917/
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Impact of Imports and Exports on Inflation Rate in Afghanistan: Does Political Instability Matter?
Yang Jingjing, Shah Mir Mowahed, Mohammad Wais Sharif Zada
Stabilizing the Consumer Price Index (CPI) to protect the populace from the adverse effects of inflation necessitates appropriate measures at both political and economic governance levels. This study examines the impacts of imports (IM) and exports (EX) on inflation (CPI) in Afghanistan using data from 1990 to 2023. The findings from the Autoregressive Distributed Lag (ARDL) model indicate that both IM and EX significantly impact CPI in the short and long term. A robustness check employing the Kernel-based Regularized Least Squares (KRLS) machine learning technique further validates these results. The analysis confirms that international trade has a substantial and positive effect on CPI. Additionally, in the context of Afghanistan, political instability acts as a positive moderator, amplifying the influence of imports and exports on inflation. The study concludes that the country requires a reevaluation of its policies regarding exchange rates and economic growth to mitigate the negative effects of imports, exports, and political volatility on the stability of the CPI.
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https://brics-econ.arphahub.com/article/138160/
Yang Jingjing, Shah Mir Mowahed, Mohammad Wais Sharif Zada
Stabilizing the Consumer Price Index (CPI) to protect the populace from the adverse effects of inflation necessitates appropriate measures at both political and economic governance levels. This study examines the impacts of imports (IM) and exports (EX) on inflation (CPI) in Afghanistan using data from 1990 to 2023. The findings from the Autoregressive Distributed Lag (ARDL) model indicate that both IM and EX significantly impact CPI in the short and long term. A robustness check employing the Kernel-based Regularized Least Squares (KRLS) machine learning technique further validates these results. The analysis confirms that international trade has a substantial and positive effect on CPI. Additionally, in the context of Afghanistan, political instability acts as a positive moderator, amplifying the influence of imports and exports on inflation. The study concludes that the country requires a reevaluation of its policies regarding exchange rates and economic growth to mitigate the negative effects of imports, exports, and political volatility on the stability of the CPI.
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https://brics-econ.arphahub.com/article/138160/
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E-BRI: The role of fourth-party logistics for Sino-Russian e-commerce
Andrei Panibratov, Alexey Kalinin, Dmitrii Fefelov, Yu Tian, Kaifeng Yan, Yunping Wang
The Belt and Road Initiative (BRI) has garnered significant attention over the past decade. This expansive project promises lucrative opportunities and a potential boost to global trade. However, infrastructure, policy, and strategic challenges pose risks to its international success. This study examines the forces driving the growth of e-commerce supply chain companies participating in the BRI, focusing on China and Russia as research context. Using the Value Chain theory, we explain how combination of its primary and support activities influences the development of international supply chains within the BRI. We employ a multilinear regression model to test the proposed framework, with an ANOVA model to verify the robustness of our findings. The results reveal that primary and support activities have different significance within BRI collaboration. Exogenous factors, particularly industrial and municipal policies, as well as infrastructural development, are the key drivers of e-commerce success in the BRI supply chains. This study contributes to the growing body of literature on the BRI by providing empirical evidence of the factors influencing e-commerce growth in participating countries. Our findings offer insights for firms and policymakers seeking to capitalize on the opportunities presented by the BRI and highlight the areas requiring attention to ensure its long-term viability and success.
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https://brics-econ.arphahub.com/article/142466/
Andrei Panibratov, Alexey Kalinin, Dmitrii Fefelov, Yu Tian, Kaifeng Yan, Yunping Wang
The Belt and Road Initiative (BRI) has garnered significant attention over the past decade. This expansive project promises lucrative opportunities and a potential boost to global trade. However, infrastructure, policy, and strategic challenges pose risks to its international success. This study examines the forces driving the growth of e-commerce supply chain companies participating in the BRI, focusing on China and Russia as research context. Using the Value Chain theory, we explain how combination of its primary and support activities influences the development of international supply chains within the BRI. We employ a multilinear regression model to test the proposed framework, with an ANOVA model to verify the robustness of our findings. The results reveal that primary and support activities have different significance within BRI collaboration. Exogenous factors, particularly industrial and municipal policies, as well as infrastructural development, are the key drivers of e-commerce success in the BRI supply chains. This study contributes to the growing body of literature on the BRI by providing empirical evidence of the factors influencing e-commerce growth in participating countries. Our findings offer insights for firms and policymakers seeking to capitalize on the opportunities presented by the BRI and highlight the areas requiring attention to ensure its long-term viability and success.
Read the full article on our journal's website
https://brics-econ.arphahub.com/article/142466/
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External mentoring as a talent attraction tool in the talent shortage context
Marina Latukha, Tatiana Pitubaeva, Daria Khasieva, Anna Kriklivetc, Kaifeng Yan
The paper explores the role of external mentoring as a strategic talent attraction tool in the context of talent shortages and describes the ways in which it can help firms to find new candidates, especially among young graduates, at the same time developing its own employees. The authors conducted 21 in-depth interviews with experienced mentors from multinational companies in Russia and one expert interview. Content analysis was used to identify the key themes related to the effectiveness of external mentoring. External mentoring significantly enhances employer branding, knowledge exchange, learning and professional development. The critical components of success are voluntary participation, non-monetary recognition and long-term trust-based relationships between mentors and mentees. The paper also identifies the challenges that external mentoring may encounter and essential criteria for selecting mentors and mentees. The authors conceptualize external mentoring as a novel approach to talent attraction extending beyond internal employee development. The study provides fresh insights into resolving talent shortages and creating external talent pools, thus contributing to talent management and mentoring literature.
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https://brics-econ.arphahub.com/article/142016/
Marina Latukha, Tatiana Pitubaeva, Daria Khasieva, Anna Kriklivetc, Kaifeng Yan
The paper explores the role of external mentoring as a strategic talent attraction tool in the context of talent shortages and describes the ways in which it can help firms to find new candidates, especially among young graduates, at the same time developing its own employees. The authors conducted 21 in-depth interviews with experienced mentors from multinational companies in Russia and one expert interview. Content analysis was used to identify the key themes related to the effectiveness of external mentoring. External mentoring significantly enhances employer branding, knowledge exchange, learning and professional development. The critical components of success are voluntary participation, non-monetary recognition and long-term trust-based relationships between mentors and mentees. The paper also identifies the challenges that external mentoring may encounter and essential criteria for selecting mentors and mentees. The authors conceptualize external mentoring as a novel approach to talent attraction extending beyond internal employee development. The study provides fresh insights into resolving talent shortages and creating external talent pools, thus contributing to talent management and mentoring literature.
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https://brics-econ.arphahub.com/article/142016/
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Where does it come from? Formation of innovative ambidexterity within SMEs in turbulent times
Rafik Smara
This study investigates how small and medium-sized enterprises (SMEs) achieve and manage innovative ambidexterity through their dynamic capability, addressing potential imbalances in changing environments under resource constraints. Employing a comparative case study approach, the research draws on qualitative, in-depth interviews with CEOs and founders of four Russian SMEs operating in the Information Technology (IT) sector, selected from a larger cohort. Key capabilities were identified for each phase of the dynamic capability process. In the sensing phase, essential capabilities include cultivating dynamic technological and marketing skills, problem-solving proficiency and commitment to continuous learning with real-time awareness. In the seizing phase, the emphasis shifts to enhancing capabilities through learning, fostering innovation-driven culture, empowering employees, providing continuous training, promoting active collaboration at all levels, and recognizing achievements through team rewards. During the reconfiguration phase, adaptive decision-making, resource and coordination flexibility and future-oriented innovation and partnerships become critical. These capabilities contribute to a balance of exploratory and exploitative innovation within SMEs enabling the achievement of innovative ambidexterity. Throughout this process, potential imbalances are managed by leveraging critical capabilities such as clear goal-setting and performance feedback, culture of openness, trust, and mutual support, and adaptive decision-making with wise allocation of firm-specific resources. Through our findings, we advance the understanding that ambidexterity is achievable for resource-constrained SMEs in uncertain environment under external constraints, offering insights into dynamic capabilities that enable such attainment.
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https://brics-econ.arphahub.com/article/140615/
Rafik Smara
This study investigates how small and medium-sized enterprises (SMEs) achieve and manage innovative ambidexterity through their dynamic capability, addressing potential imbalances in changing environments under resource constraints. Employing a comparative case study approach, the research draws on qualitative, in-depth interviews with CEOs and founders of four Russian SMEs operating in the Information Technology (IT) sector, selected from a larger cohort. Key capabilities were identified for each phase of the dynamic capability process. In the sensing phase, essential capabilities include cultivating dynamic technological and marketing skills, problem-solving proficiency and commitment to continuous learning with real-time awareness. In the seizing phase, the emphasis shifts to enhancing capabilities through learning, fostering innovation-driven culture, empowering employees, providing continuous training, promoting active collaboration at all levels, and recognizing achievements through team rewards. During the reconfiguration phase, adaptive decision-making, resource and coordination flexibility and future-oriented innovation and partnerships become critical. These capabilities contribute to a balance of exploratory and exploitative innovation within SMEs enabling the achievement of innovative ambidexterity. Throughout this process, potential imbalances are managed by leveraging critical capabilities such as clear goal-setting and performance feedback, culture of openness, trust, and mutual support, and adaptive decision-making with wise allocation of firm-specific resources. Through our findings, we advance the understanding that ambidexterity is achievable for resource-constrained SMEs in uncertain environment under external constraints, offering insights into dynamic capabilities that enable such attainment.
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https://brics-econ.arphahub.com/article/140615/
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Theoretical analysis of sharing economy factors in Russia and Brazil
Diana Mikhajlenko, Natalia Kononkova
This paper examines the sharing economy as an advanced model of interaction between economic agents that helps them mitigate resource constraints and rapidly meet producers’ and consumers’ needs in the face of new challenges. We found the benefits of collaborative consumption, or sharing, to be largely determined by the level of trust in society, development of technological base and adaptation of legal framework to digital transformation of the national economy. Based on the evidence from Russia and Brazil, we classify the factors that determine the sharing economy development and identify effective instruments of regulating sharing relations. The results indicate that regulatory “sandboxes” appear to be most appropriate as they allow participants to test innovations of substantial public importance that lie outside the scope of existing legislative norms.
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https://brics-econ.arphahub.com/article/145277/
Diana Mikhajlenko, Natalia Kononkova
This paper examines the sharing economy as an advanced model of interaction between economic agents that helps them mitigate resource constraints and rapidly meet producers’ and consumers’ needs in the face of new challenges. We found the benefits of collaborative consumption, or sharing, to be largely determined by the level of trust in society, development of technological base and adaptation of legal framework to digital transformation of the national economy. Based on the evidence from Russia and Brazil, we classify the factors that determine the sharing economy development and identify effective instruments of regulating sharing relations. The results indicate that regulatory “sandboxes” appear to be most appropriate as they allow participants to test innovations of substantial public importance that lie outside the scope of existing legislative norms.
Read the full article on our journal's website
https://brics-econ.arphahub.com/article/145277/
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Financial development, economic growth, and energy consumption in SADC region
Palesa Lefatsa, Gabila Nubong
The paper presents an empirical study of the relationships between financial development, economic growth, urbanisation and energy consumption in the Southern African Development Community for the years 1980 to 2023. The researchers applied the Bayesian approach via Metropolis-Hasting and Gibbs samples as the MCMC methods, and Dumitrescu and Hurlin (2012) and Diagnostic tests to check the causality among all the variables in question and accuracy of the data and model. Over time, there has been a significant positive correlation between financial development, economic growth, industrialization, urbanization, and energy consumption. The results of the Granger causality test showed a unidirectional causal relationship between financial development, urbanization, and energy consumption supporting the alternative hypothesis that there is a relationship between financial development and energy consumption in the Southern African Development Community. It has been found that there is a Bi-directional (feedback) Granger causal relationship between economic growth and energy consumption in the Southern African Development Community; this also supports the alternative hypothesis. The results align with endogenous growth theory, which emphasizes that economic growth is driven by internal factors such as capital accumulation, innovation, and improved efficiencies, where energy plays a significant role. This also supports the view that energy infrastructure development is vital for sustaining economic growth in the region. The diagnostic tests confirm that the model is correct.
Read the full article on our journal's website
https://brics-econ.arphahub.com/article/138454/
The publications in our journal is free of charge for the readers thanks to the support of VTB.
Palesa Lefatsa, Gabila Nubong
The paper presents an empirical study of the relationships between financial development, economic growth, urbanisation and energy consumption in the Southern African Development Community for the years 1980 to 2023. The researchers applied the Bayesian approach via Metropolis-Hasting and Gibbs samples as the MCMC methods, and Dumitrescu and Hurlin (2012) and Diagnostic tests to check the causality among all the variables in question and accuracy of the data and model. Over time, there has been a significant positive correlation between financial development, economic growth, industrialization, urbanization, and energy consumption. The results of the Granger causality test showed a unidirectional causal relationship between financial development, urbanization, and energy consumption supporting the alternative hypothesis that there is a relationship between financial development and energy consumption in the Southern African Development Community. It has been found that there is a Bi-directional (feedback) Granger causal relationship between economic growth and energy consumption in the Southern African Development Community; this also supports the alternative hypothesis. The results align with endogenous growth theory, which emphasizes that economic growth is driven by internal factors such as capital accumulation, innovation, and improved efficiencies, where energy plays a significant role. This also supports the view that energy infrastructure development is vital for sustaining economic growth in the region. The diagnostic tests confirm that the model is correct.
Read the full article on our journal's website
https://brics-econ.arphahub.com/article/138454/
The publications in our journal is free of charge for the readers thanks to the support of VTB.
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