BRIC(S) as an Emerging Block?

Abstract

Purpose

The aim of this study is to ponder over the issue of the combined political and economic importance of the BRIC(S) countries. The study highlights the performance of BRICS countries on the basis of various economic and social indicators, as well as patterns of trade and investment. The chapter examines the origin and the status of the BRICS Development Bank as a sign of the creation of a new political and economic block.

Methodology/approach

The present study adopts a descriptive method. It uses secondary data from several multilateral organisations.

Findings

The BRICS countries not only differ in their contribution to the global economy but also along major social indicators. BRICS Bank (New Development Bank) is an important step taken by BRICS countries, but its sustenance depends on the future policies and coordination of BRICS countries.

Research limitations

No econometric techniques are applied due to insufficiently available secondary data.

Citation

Iqbal, B.A. and Rahman, M.N. (2016), "BRIC(S) as an Emerging Block?", The Challenge of Bric Multinationals (Progress in International Business Research, Vol. 11), Emerald Group Publishing Limited, Leeds, pp. 227-245. https://doi.org/10.1108/S1745-886220160000011012