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Trade and Convergence: Empirical Evidence from BRICS Countries
Global Business Review ( IF 2.3 ) Pub Date : 2021-04-07 , DOI: 10.1177/0972150921993057
Kuldeep Kumar Lohani 1, 2
Affiliation  

The present article attempts to analyse trade and per capita income convergence for the BRICS countries. The effects of economic bloc formation on their trade and income distribution or convergence (divergence) among the countries have been analysed. To observe the effect of trade on convergence rates, intra-trade group, single difference approach and panel unit roots tests have been used. The convergence measure is estimated between BRICS countries and their major trading partners from post-trade liberalization period. The study revealed that BRICS countries converged over the study period. However, the evidence on post-BRICS economic bloc formation shows an insignificant relationship. The results of the analysis of post-trade liberalization of BRICS countries vary among the BRICS countries. Further, panel unit roots test results confirm that conditional convergence is taking place within BRICS bloc and all export-based groups except for Indian economy and import-based groups. Besides, absolute convergence has been confirmed for all the groups. Thus, the study suggests the need of BRICS countries to actively engage in trade and investment activities.



中文翻译:

贸易与融合:来自金砖国家的经验证据

本文试图分析金砖国家的贸易和人均收入趋同。分析了经济集团形成对其国家之间贸易和收入分配或趋同(分歧)的影响。为了观察贸易对趋同率的影响,已使用贸易内部组,单一差异法和面板单位根检验。金砖国家与主要贸易伙伴之间的贸易趋同测度是从贸易自由化后时期开始的。研究表明,金砖国家在研究期内趋同。但是,有关金砖四国后经济集团形成的证据显示出微不足道的关系。金砖国家贸易后自由化的分析结果在金砖国家之间有所不同。进一步,专家组单位根检验结果证实,金砖国家集团和所有以出口为基础的集团(印度经济和以进口为基础的集团除外)正在有条件地趋同。此外,所有组都已确认绝对趋同。因此,研究表明,金砖国家必须积极参与贸易和投资活动。

更新日期:2021-04-08
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