Title: Global value chains in the era of changing globalisation scenario: perspective from BRICS

Authors: Arti Yadav; Badar Alam Iqbal

Addresses: Department of Management Studies, Ramanujan College, University of Delhi, New Delhi, 110019, India ' School of Transdisciplinary Research and Graduate Studies (STRGS), University of South Africa, Pretoria, 0003, South Africa

Abstract: The aim of the present study is to empirically examine the role of selected macro-economic variables on the global value chains participation index of BRICS countries using the Pooled Mean group Auto-Regressive Distributed Lag method. The study also highlighted the impact of the coronavirus pandemic on the global value chains (GVC). The findings show that foreign direct investment is significant in the long run as well as short-run, while real effective exchange rate, current account balance, trade, and gross domestic product (GDP) growth rate are significant only in the long run for BRICS economies. The study further suggests that globalisation has way more positive effects than moving away from it.

Keywords: GVC; global value chains; globalisation; BRICS; Covid-19; economic growth; backward GVC; forward GVC; foreign direct investment; trade openness; current account balance.

DOI: 10.1504/IJISD.2024.135239

International Journal of Innovation and Sustainable Development, 2024 Vol.18 No.1/2, pp.14 - 29

Received: 21 Aug 2021
Accepted: 30 Mar 2022
Published online: 03 Dec 2023 *

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