Comparative Study of BRICS Decisions in Terms of Main Guidelines of International Financial and Economic Architecture Reform
Undoubtedly, BRICS have a considerable influence in the world. BRICS leaders decided to create a new financial and economic architecture and, hence, documents and resolutions adopted by BRICS countries and the G-20 documents are of great importance. A detailed analysis of these documents enables us to trace the turning points in the development of BRICS countries, to recognize key factors, influencing further effective cooperation and collaboration.
In this regard, it seems appropriate to study, within this research, the role of BRICS in the international scene, analyzing the importance of joint BRICS declarations on one of the numerous lines of collaboration and cooperation within BRICS, viz. problems of reforming of international monetary and financial institutions and a new financial and economic architecture establishment.
The most significant of all adopted by BRICS legal acts is the eThekwini Declaration. One of the most important provisions of the eThekwini Declaration is the decision to establish a new financial institution - a New Development Bank. The adoption of the decision to establish the BRICS Development Bank demonstrates the great progress of the economic development for the past decades. At present the decision to establish the BRICS Development Bank has been taken. The establishment of the Bank will also result in the change of the balance of the global political and economic power.
Certainly, the establishment of a new financial and economic architecture is extremely complicated and debating. In this article the author shows that the BRICS countries came to the conclusion that it is necessary to not only reform the existing institutions but also to establish new ones, such as for example the BRICS Development Bank.
Health is an indispensable public good. At the national level it has been manifested in the BRICS governments’ commitment to scale up health financing, though to a different degree. At the global level it is evidenced by the international community progress on the three health-related Millennium Development Goals. However despite successes in fighting infectious diseases, child and maternal mortality, old risks persist and new challenges emerge, resulting from the 2008 financial crisis, current slack economic growth and growing economic inequality. The BRICS face these challenges and have begun cooperation on health issues. It is important that they build their emerging health agenda recognizing these challenges, committing to develop sustainable policy solutions, and cooperating with other actors to promote effective health governance for change. To explore how the BRICS contribute towards global health governance the article first considers the BRICS cooperation (its institutionalization, discourse, and engagement with other international institutions) with a focus on health issues. The authors then look into the BRICS members’ national health systems, challenges and goals. The article concludes with expectations of the BRICS future health agenda and its implications for global governance.
The paper discusses social aspects of higher education institutions engagement with their regional communities. On the basis of the cases of the Russian Siberian and Southern Federal Universities the author analyzes practices and formats of their interaction with different regional stakeholders as part of the FUs' social function implementation. The FU's capacity to enhance their third mission is assessed. The author suggests a set of indicators to assess universities social activities impact on development of the regions, and puts forward recommendations on building the federal universities capacity for fulfilling their third role. The paper is prepared within the framework of the Ministry of Education and Science project "Organizational and analytical support to the national priority project "Education" on activities aimed at "Development of Federal Universities", carried out by the National Training Foundation.
The global economic and political landscape is undergoing profound changes as the world enters a period of rapid transformation development strategies or adjusting their existing ones with greater prominence given to the role of innovation in the leading and underpinning development to strengthen their strategic arrangements for innovation⁃driven development, in a bid to improve their international competitiveness and seize the initiative in global competition Science, technology and innovation (STI) are recognized as the golden key to the door to growth In this trend of the times, the BRICS countries are spearheading the development of developing countries and attracting international attention with their highly innovative and distinctive development strategies Meanwhile, the BRICS as a bloc has become an exemplar of STI cooperation of developing countries.
As the rotating chair of BRICS in 2017, China will host the 9th BRICS Summit in Xiamen in September In the lead⁃up to the summit, the Ministry of Science and Technology of China (MOST) hosted the 5th BRICS Science, Technology and Innovation Ministerial Meeting in Hangzhou in July, where BRICS STI ministers had in⁃depth discussions and reached wide consensus on topics including STI policy, cooperation in priority areas, and co-funding for multilateral research projects The BRICS Action Plan for Innovation Cooperation and the Hangzhou Declaration
To support the work relating to BRICS STI cooperation under the Chinese presidency, China Science and Technology Exchange Center (CSTEC), as entrusted by MOST, established a High Level Expert Group of leading professionals The High⁃level Expert Group complied theBRICS Innovative Competitiveness Report 2017, in collaboration with the science and technology sections of Chinese embassies in other BRICS countries and STI think tanks in other BRICS countries Based on the latest available data, the Report of the BRICS STI cooperation, and presents country and thematic studies on the STI development of BRICS countries.
The Report consists of four parts, with a total of 12 sub⁃reports Part I two general sub⁃reports: an analysis report which evaluates and forecasts the national innovation competitiveness of BRICS countries and their STI cooperation and strategic priorities; and a research report on the priority areas BRICS STI cooperation for win⁃win results This part evaluates the comprehensive national innovative competitiveness of the BRICS countries since 2001 and forecast their innovative competitiveness in the next five years It also assesses the current status and progress of China's STI cooperation with other BRICS countries, and identifies priority areas of BRICS STI cooperation, support for BRICS countries to strengthen their national innovation competitiveness Part Ⅱ presents six country reports, which evaluate, analyze and forecast of the national innovation competitiveness of the BRICS countries and studies of their STI cooperation within the BRICS framework Part Ⅲ presents four thematic reports, which focus on the four thematic areas to STI, including digital economy, inclusive finance, energy, and agriculture, elaborate the STI development and potential of the individual BRICS countries in those areas, and provide valuable inputs for the BRICS countries' national innovation competitiveness Part IV contains appendixes, including an introduction to the related indicator system BRICS STI cooperation.
The article considers the issues of business competition and cooperation. There presented the market type matrix based on «cooperation-competition» criteria. The concepts of competition marketing and relations with competitors are defined. The concept of marketing communications is specified. The analysis of the main methods of cooperation is carried out.
The article focuses on analysis of the main factors that influence the volume of commodities export and import in BRICS countries. As a key factor destabilizing the trade in commodities during the period of 2007 – 2011 the author identifies price volatility. The author analyses key measures, undertaken by BRICS governments at the national and international level. The author makes a forecast on the future role of BRICS in stabilizing the international trade in commodities and in contributing to food security.
The phenomenon of positive autocorrelation in daily stock index returns is often viewed as a consequence of stable behavioral patterns of certain investor groups (e.g., [Sentana, Wadhwani, 1992; Koutmos, 1997]). However, such patterns may change due to extreme events, i.e. currency and financial crises, and affect the autocorrelation of returns. Emerging markets have experienced severe crises in a recent decade and are therefore a suitable object to study.
Thus the focus of the current paper is to identify substantial changes in autocorrelation of BRICs’ stock markets index returns after experiencing these failures of financial system (the Asian crisis of 1997–1998, the crises in Russia, Brazil in 1998–1999 and the revaluation of the Chinese yen in 2005). Since all countries considered belong to the group of emerging markets and crises might have contagious effects we expect to reveal the influence of events in one country from the group on the markets in other countries. Studying stock market crises in BRICs and Thailand as possible causes of structural changes on stock markets is contribution of this paper to the existing literature. For this purpose we test for structural breaks in an ARMA-GARCH-model on the commonly known crisis dates.
This is the second volume in a series of five books bringing together the results of intensive research on the national systems of innovation (NSI) in the BRICS countries – Brazil, Russia, India, China, and South Africa. This book analyses the co-evolution of inequality and NSI across the BRICS economies. Inequality and Development Challenges argues that inequalities (assets, access to basic services, infrastructure, knowledge, race, gender, ethnicity, and geographic location) that go beyond the aspects of income, must be factored into development strategies since the benefits of innovation are not distributed equally. It combines original and detailed data, making this book an invaluable resource for researchers and scholars in economics, development studies and political science, as well as policymakers and development practitioners interested in the BRICS countries.
The article reviews the development of Soviet psychology at the beginning of the 20th century and its contemporary school viewed through the prism of thriving global psychology. The development process is considered to be influencing the establishment of operational approach in Soviet education.
This special publication for the 2012 New Delhi Summit is a collection of articles by government officials from BRICS countries, representatives of international organizations, businessmen and leading researchers.
The list of Russian contributors includes Sergei Lavrov, Foreign Minister of Russia, Maxim Medvedkov, Director of the Trade Negotiations Department of the Russian Ministry of Economic Development, Vladimir Dmitriev, Vnesheconombank Chairman, Alexander Bedritsky, advisor to the Russian President, VadimLukov, Ambassador-at-large of the Russian Foreign Affairs Ministry, and representatives of the academic community.
The publication also features articles by the President of Kazakhstan NursultanNazarbayev and internationally respected economist Jim O’Neil, who coined the term “BRIC”. In his article Jim O’Neil speculates about the future of the BRICS countries and the institution as a whole.
The publication addresses important issues of the global agenda, the priorities of BRICS and the Indian Presidency, the policies and competitive advantages of the participants, as well as BRICS institutionalization, enhancing efficiency and accountability of the forum.
The paper examines the structure, governance, and balance sheets of state-controlled banks in Russia, which accounted for over 55 percent of the total assets in the country's banking system in early 2012. The author offers a credible estimate of the size of the country's state banking sector by including banks that are indirectly owned by public organizations. Contrary to some predictions based on the theoretical literature on economic transition, he explains the relatively high profitability and efficiency of Russian state-controlled banks by pointing to their competitive position in such functions as acquisition and disposal of assets on behalf of the government. Also suggested in the paper is a different way of looking at market concentration in Russia (by consolidating the market shares of core state-controlled banks), which produces a picture of a more concentrated market than officially reported. Lastly, one of the author's interesting conclusions is that China provides a better benchmark than the formerly centrally planned economies of Central and Eastern Europe by which to assess the viability of state ownership of banks in Russia and to evaluate the country's banking sector.
The paper examines the principles for the supervision of financial conglomerates proposed by BCBS in the consultative document published in December 2011. Moreover, the article proposes a number of suggestions worked out by the authors within the HSE research team.