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This paper aims to identify the impact of economic integration on trade competitiveness and demonstrate its effects on trade and investment performance of member nations.

The study compiles some price indices to provide a systematic assessment of competitiveness in the BRICS region. The panel regression framework estimates the impact of integration on trade competitiveness and the external sector performance of BRICS nations.

The findings of the research highlight the prospects for strong, closer and sustained integration in BRICS and, more importantly, the contribution of competitiveness to FDI receipts and export growth.

The assessment of exports and investment experiences of BRICS nations, particularly China and India, provides further evidence in support of the logical design and strategic use of their foreign trade policies.

The economic partnership that wants to sustain this high road to global economic space needs strategic orientations to promote their partnership in other interest areas to make the cooperation more competitive in price terms.

This paper aims to employ GARCH-class models (GARCH, IGARCH and CGARCH) to estimate the volatility persistence on crude oil, US, Gulf Corporation Council (GCC), Brazil, Russia, India and China (BRIC) stock markets. Also, the paper investigates the volatility spillover and the dynamic conditional correlation between crude oil, US stock index and stock indices of GCC and BRIC countries. The results prove a high degree of volatility persistence in the crude oil and stock markets. Based on the BEKK-GARCH and DCC-GARCH results, the paper finds strong evidence of the contagion effect of the oil shock and US financial crisis of 2008 on GCC and BRIC stock markets.

In the beginning, the paper uses univariate GARCH models to estimate the volatility persistence of the oil market, US stock market, and GCC and BRIC stock markets. Then, the paper uses a trivariate BEKK-GARCH model of Malik and Hammoudeh to examine the volatility spillover between oil market, US stock market and stock markets for GCC and BRIC countries. Finally, the paper analyses the dynamic conditional correlation between US market and each stock market of GCC and BRIC countries using the DCC-GARCH model. Also, the paper estimates the dynamic conditional correlation between oil market and all stock markets.

The results indicate the contagion effect of the oil shock and US financial crisis of 2008 on the GCC stock markets which are among the most important oil-exporting countries and also on BRIC stock markets which are among the emergent countries which are characterized by high economic growth level.

The contribution of this paper is to investigate the existence of contagion effect between oil market, US stock market and two panels of emerging stock markets which have different economic characteristics, the GCC and BRIC countries, during the oil shock and US financial crisis period of 2008-2009.

This paper aims to investigate the current status of research output published in open access (OA) journals from Brazil, Russia, India, China and South Africa (BRICS) countries from 2010 to 2019 and compare their performances in terms of OA research output.

Papers contributed by the researchers of BRICS countries were searched using an advanced search option in the Web of Science core collection database. The retrieved results were restricted to the “journal articles” published in the “English language” during the time period of 2010 to 2019. After that, the selected papers were again refined by using the “open access” section to identify the research output of BRICS countries published in OA journals.

Total 2,219,943 papers were published from BRICS countries, out of which 402,199 articles were published in OA journals and South Africa has published the highest number of research output in OA journals (31%). Although, there has been a constant increasing growth of research output published in OA journals in BRICS countries from 13,300 papers in 2010 to 82,310 articles in 2019. Engineering and Technology have published the maximum number of papers in OA journals. Researchers of BRICS countries mostly contributed their OA research output in journals published from the USA and Scientific Reports (UK) is identified as one of the leading OA journals. Additionally, among all the BRICS countries, China is found as the promising leader in terms of OA journals publications, the maximum share i.e. 71.25 per cent of total 402,199 OA journal publications have been produced by the highest number 137 (23.41%) of institutions of China and Chinese Academy of Sciences (China) is leading institution with 39,036 papers published in OA journals.

This study is limited to BRICS countries, but it offers theoretical implications for extending its scope to different countries. This study may be used for raising awareness of OA among researchers of BRICS countries and encouraging them to contribute their research work in OA journals. The findings of this study are useful and meaningful in understanding the comparative status of research across countries, disciplines, journals and institutions.

This is the first study in BRICS countries focusing on the research output published in OA journals.

The purpose of this paper is to analyze whether China's exports can effectively improve the global competitiveness of other BRICS countries' exports from the perspective of intra-BRICS export trade.

This paper extends the multinational trade model and analyzes the mechanism of the technological upgrading effect from the perspective of dynamic general equilibrium theory. In addition, this paper uses the export panel data of 217 products with three-digit SITC codes from China to other BRICS member countries from 2000 to 2016 and constructs a dynamic empirical model for parameter estimation.

The results show that China's exports to other BRICS member countries can effectively promote the technological improvement of other BRICS member countries' export products. In particular, the formal establishment of the BRICS organization in 2010 has significantly improved the efficiency of China's export technology optimization.

In the background of the prevalence of anti-globalization and the proliferation of protectionism, this paper proves that the deepening of trade cooperation between other BRICS members with China can help optimize their own international trade competitiveness and allow China's development dividend to benefit more countries and people.

This paper attempts to assess the economic growth prospects of the BRICS countries and their potential ability to challenge and overtake the G7 countries. Specifically, the purpose of this paper is to answer the following question: Do the BRICS represent a tangible economic threat to surpass the G7, and if so, how?

The authors adopt a qualitative research method based on secondary data sources, such as journal publications, reports published by international organizations, and newspaper and magazine articles. Data from these different sources is compiled and presented in tabular form to provide logical support to the arguments.

Based on the data analysis, the authors conclude that the BRICS have the potential to overtake the G7 in the long run. However, this objective is not likely to be as easy as presumed by economists, since a number of factors and uncertainties may deter the growing economic power and influence of the BRICS.

At present, there is hardly any study or research in the available literature that compares these two blocs of countries. Hence, this comparative study will contribute significantly toward the advancement of future comparative economic studies.

This research aims to conduct, to the best of our knowledge, the first systematic review of the implementation of Industry 4.0 in BRICS. This review facilitates the identification of main factors that affect the readiness to adopt Industry 4.0 in BRICS and the role of different agents, such as multinationals, the public sector or educative institutions.

Key publications published from 2010 to 2019 have been analysed. A total of 61 papers have been selected from the systematic review.

Three factors of convergence of BRICS to developed economies in terms of Industry 4.0 are identified: (1) the public initiatives that can also result in the attraction of talent from developed countries to BRICS; (2) the role of multinationals and (3) the implication of educational institutions.

This review has some limitations. First, some grey literature, such as reports from non-governmental organisations and front-line practitioners' reflections, were not included. Second, only research studies in English were reviewed

The heterogeneity of BRICS amongst themselves affects the implementation of Industry 4.0 policies. Therefore, public policies should differ among countries to achieve the different readiness of companies within each country. Industry 4.0 cannot be understood as a manufacturing strategy against delocalisation, as emerging countries, such as BRICS, are also aware of the potential of automation.

Based on a systematic review, this article shows that the strategy created by Germany to increase industrial productivity has been also introduced in BRICS countries as a critical factor to improve their competitiveness.

The purpose of this paper is to investigate whether the relationship of interdependence and contagion between BRICS countries and emerging non-BRICS countries is similar to that observed between developed countries and emerging BRICS countries.

The authors analyzed 15 markets: 5 BRICS, 5 developed (USA, Japan, Germany, England and France) and 5 emerging markets (Mexico, Indonesia, Turkey, Iran and Poland). Based on the time series of returns of the main stock indexes of each country, referring to the period from 2008 to 2018, the authors applied Granger causality tests, vector auto-regression and the dynamic conditional correlation-GARCH model.

The results led to the rejection of the main hypothesis and showed adherence to the behaviors predicted in the literature for the relations between the groups of markets.

This paper, besides analyzing the interdependence between markets in times of crisis, analyzes the effect of contagion between developed and emerging markets.

For more than four decades, persistent economic activities and a focused growth strategy resulted in significant infrastructural and other favorable economic and institutional changes in the world's developing nations. High-quality growth is not just a function of sound economic policies but also implementing a broad range of social policies. The BRICS (Brazil, Russia, India, China and South Africa) nations have proven their testimony on both these factors. Following their path are some other emerging economies like N-11 (or Next Eleven propounded by Goldman Sachs (2005) Report), which this present study tries to examine as successors of BRICS.

Along with panel data regression modelling, the study has applied econometric procedures robust to heterogeneities across various nations and have been able to produce more reliable results that can be generalized for other similar groups of countries. 11 independent variables (both economic and institutional) have been used to meet the study's objective for a period of 34 years (1985–2018).

The findings of the study reveal that the governments of both the group of countries must work toward their macro-economic stability factors (external debt stocks), technological capabilities (mobile and fixed broadband subscriptions), human capital (health expenditure) and political conditions (mainly the rule of law) to enhance their sustainable economic growth.

This study enhances knowledge of the determinants of economic growth in emerging countries. Firms from BRICS and N-11 may better understand the factors influencing their internationalization process (both economic and institutional). The study is significant not just for the researchers but also for the policymakers of the BRICS and N-11 to understand in which areas their country is leading or lagging. The study is useful even for the policymakers of other emerging countries of the world who might take lessons from these nations (especially BRICS) and follow their success path. This study helps the governments of other groups of emerging countries such as PIN (Pakistan, Indonesia and Nigeria); MINT (Mexico, Indonesia, Nigeria and Turkey); CIVETS (Colombia, Indonesia, Vietnam, Egypt, Turkey and South Africa), etc. which can follow the path of BRICS economies in growth and formulate policies to increase their economic growth accordingly. At the enterprise level, it helps MNCs understand BRICS and N-11 markets and formulating entry and growth strategies in these most emerging countries of the world.

The present study is unique. It tries to investigate the projections of the Goldman Sachs report after 15 years of its release. It tries to determine the factors responsible for the economic development in the N-11 countries with advanced econometric techniques. Majorly, the focus is to comparatively analyze the growth trajectory for BRICS and N-11 nations and suggest whether N-11 has the potential to become successors of BRICS. A concentrated effort to examine the most significant drivers (both economic and institutional), which may lead to economic progression, has been made in this study.

The purpose of this paper is to investigate the impacts of institutional quality (IQ) in exporting and importing countries on agro-food exports from the world's leading emerging economies: Brazil, the Russian Federation, India and China (BRIC countries).

Measuring is based on using the gravity trade model and econometric panel data analysis for the period 1998-2009.

Agro-food exports from the BRIC countries, particularly Brazil and China, have increased. The Russian Federation has experienced stagnating and volatile patterns. Brazil and India have strengthened market shares in the existing importing markets, while the Russian Federation has experienced severe deterioration. The export of existing products is more important than of new products. Agro-food exports are positively associated with IQ and the size of the gross domestic product in exporting and importing countries, but negatively with distance.

Among IQ variables, the focus is on the indices of legal structure and security of property rights and freedom to trade internationally in agro-food importing countries and the BRIC exporting countries.

Different institutions and their quality can affect agro-food exports differently. The impact of institutions is not uniform across product groups.

This paper adds the impacts of IQ on agro-food exports. Except for processed products for final household consumption, agro-food exports from the BRIC countries are positively associated with the quality of the legal structure, the security of property rights and the freedom to trade internationally as IQ in exporting and importing countries.

This paper aims to analyze the pattern of public debt in Brazil, Russian Federation, India, China and South Africa (BRICS) in a comparative perspective. Besides, an attempt is made to verify the existence of debt overhang as suggested by Krugman (1988) among BRICS nations.

Annual panel data for BRICS for the period 1980-2016 has been used for the analysis. Percentage ratio method has been used to analyze the pattern of debt. Panel covariate augmented Dickey–Fuller (pCADF) test has been used to verify the time series properties of the variable, while panel cointegration test of Pedroni (1999) is used to check the existence of any co-integrating vector among the variables. Panel Granger causality test is used to check the causality between the variables.

Co-integration result suggests that there exists a strong long-run equilibrium relationship between debt service, domestic savings, capital formation and economic growth of BRICS nations. From Granger causality test, it is observed that domestic savings and capital formation are Granger caused by debt servicing. The coefficients from fully modified ordinary least squares measure a negative impact of debt service on gross capital formation and gross domestic saving. This suggests that the payment for debt service affects capital formation and gross domestic savings adversely. Thus, it gives primary signals for debt overhang effect in BRICS nations.

Allowing debt service to negatively affect the investment and potential investment will result in slowdown or stagnation in economic growth in the long run, so strategies need to be taken in BRICS nations to check the adverse effects of rising level of debt-service-payment-to-gross national income ratio on domestic savings and capital formation. BRICS nations need to reduce their debt service payment by undertaking appropriate strategy of debt overhaul and fiscal management so that domestic savings and capital formation in the country will not be adversely affected. Besides, BRICS nations need to take measures to augment its domestic savings and capital formations.

To the best of the authors’ knowledge, no published works have analyzed the pattern of public debt for BRICS (major developing nations). Debt servicing is also not checked for BRICS in recent papers, considering overhang approach.