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BRICS Countries and Their Initiatives towards Regional Economic Integration

Author

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  • Iulia Monica Oehler-Sincai

Abstract

The main purpose of this paper is to bring to the forefront the projects of regional integration sustained by Brazil, Russia, India, China and South Africa (BRICS) and underline the deeper motivations of these countries to be in favour of regional integration. The reasons of economic nature are as strong as the geopolitical ones, as the latter lead to a real consolidation of their position as regional leaders, with a direct impact on their worldwide influence. Our analysis highlights also a series of economic and political weaknesses of the BRICS partners, which generates protectionist stances and therefore the obstruction of the regional integration process.

Suggested Citation

  • Iulia Monica Oehler-Sincai, 2015. "BRICS Countries and Their Initiatives towards Regional Economic Integration," Revista de Economie Mondiala / The Journal of Global Economics, Institute for World Economy, Romanian Academy, vol. 7(4).
    • Handle: RePEc:iem:journl:v:4:y:2015:id:2822000009561055
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    File URL: http://www.iem.ro/rem/index.php/REM/article/view/224/281
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    More about this item

    Keywords

    BRICS; regional integration; free trade agreements; Common Market of the South (MERCOSUR); Eurasian Economic Union (EAEU); Regional Comprehensive Economic Partnership (RCEP); African Union; South African Development Community; Tripartite Free Trade Area;
    All these keywords.

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F15 - International Economics - - Trade - - - Economic Integration
    • F53 - International Economics - - International Relations, National Security, and International Political Economy - - - International Agreements and Observance; International Organizations
    • O24 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Trade Policy; Factor Movement; Foreign Exchange Policy

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