1st Edition
Convergence and Developmental Aspects of Credit Allocations in BRICS Nations Theoretical and Empirical Inquiries
This book explores the levels of cooperation and the phenomenon of convergence among BRICS nations. It provides an in-depth look into the financial and banking systems among these rapidly developing economies and the steps they have taken to foster development and counter inequalities.
Of the many factors in determining the income and wealth of a country as well as a group of countries, commercial bank credit, a well-known financial indicator, has been an important one. This book analyses the governance and structure of the New Development Bank and its effects on group members for peer growth and to defend against any external economic and political shocks. It looks at how much of an influence the commercial bank credit, or simply the credit, has upon the income levels of the BRICS member countries, how equitable they are, whether they are converging in credits and incomes, and other such issues. It also focuses on India’s credit aspects of inclusiveness and convergence.
With a strong empirical model estimation, this book will be of interest to students and researchers of economics, finance, management, political studies, international relations, and international trade.
List of Figures
List of Tables
List of Contributors
Foreword
Acknowledgements
List of Abbreviations
Introduction
RAMESH CHANDRA DAS
PART I: Growth and Convergence Aspects of Financial Instruments in the BRICS Nations
1 New Development Bank: How It Is New?
ANUP KUMAR SAHA AND SREELATA BISWAS
2 Convergence of Banking Expansion in BRICS Countries: An Empirical Study
DEBABRATA MUKHOPADHYAY AND DIPANKAR DAS
3 Convergence Analysis of Monetary Sector’s Credits in BRICS Nations
NILENDU CHATTERJEE AND TONMOY CHATTERJEE
4 The New Development Bank for BRICS: Convergence of Emerging Economies for Development Cooperation
DEBASISH NANDY AND ALIK NAHA
5 Quality of Bank Credit and Its Implications for Sustainable Growth: A Macro-Theoretic Introspection with Reference to BRICS Nations
MAINAK BHATTACHARJEE AND SHARMI SEN
6 Newly Created Contingency Reserve for Pursuit of Smoother Trade: Evidence from BRICS
ASHU TIWARI AND PROMILA DAS
7 Role of Domestic Credit vis-à-vis Foreign Credit on BRICS Countries’ GDP and Export Growth
SUDIPTA JHA
8 Inter-connections between the Financial Sector and the Real Sector: A New Empirical Investigation for BRICS Nations
IMRAN HUSSAIN, ALOKA NAYAK, AND RAMESH CHANDRA DAS
9 Remittances and Its Impact on the Extension of Credit by Banks: A Panel Evidence from BRICS Countries
UJJAL PROTIM DUTTA
10 Time and Growth Rate Required for the BRICS to Converge within the Group as Well as to Catch up with G7 Countries
CHANDAN BANDYOPADHYAY AND SAPTARSHI CHAKRABORTY
11 The Nexus between Uncertainty and Credit Growth in BRICS Countries
MANH-TIEN BUI, THAI-HA LE, AND LAM TRUONG PHUONG DO
12 A Quadrangular Analysis of Exports, Imports, Economic Growth, and Exchange Rate in the Post-Liberalization Era: Evidence from BRICS
SOVIK MUKHERJEE AND RAHUL DATTA
13 Capital Inflow and Financial Status of the Indian Economy: An Empirical Analysis
NATASHA HAZARIKA, UJJAL PROTIM DUTTA, AND BRAJENDRA SAIKIA
PART II: Aspects of Sustainable Development in the BRICS Nations
14 Has Credit Growth Led to Inclusive Development in BRICS Countries? A Panel Data Analysis
SOMNATH CHATTOPADHYAY AND SUCHISMITA BOSE
15 Financial Inclusion, Digitalization, and Economic Development: Empirical Evidence from BRICS Countries
MADHABENDRA SINHA, ANJAN RAY CHAUDHURY, AND ARINDAM METIA
16 The Impact of Financial Development on Renewable Energy Investments for BRICS Countries
HASAN DINCER, SERHAT YÜKSEL, AND ÇAĞATAY ÇAĞLAYAN
17 Roles of Credits in BRICS Countries in Mitigating Climate Change and Supporting Sustainable Development and Economic Growth
EGEMEN SERTYESILISIK AND BEGUM SERTYESILISIK
18 Foreign Direct Investment, Economic Growth and the Environment: A Review of Environmental Degradation in BRICS
EZEBUILO R. UKWUEZE, HENRY T. ASOGWA, AND CHUKWUDI C. NWOKOLO
19 Inclusive Human Development and Economic Growth in BRICS: An Empirical Insight
DEVI PRASAD DASH
20 Good Governance for Inclusive Development: A Comparison of Bangladesh with the BRICS Member India
ABDULLAH-AL-MAMUN AND MD. SAIFULLAH AKON
21 BRICS through the Prism of New Delhi: A Cautious and Limited Engagement
RAJ KUMAR KOTHARI AND SIDDHARTHA SANKAR MANNA
22 The Present Scenario of BRICS: Economy, Expansion, and Challenges
DEBASISH NANDY AND MD. SHARIFUL ISLAM
23 Bank Credit, Community Participation and Inclusiveness: Evidences from Eastern India
NAVIN KUMAR RAJPAL AND SHARMILA TAMANG
Index
Biography
Ramesh Chandra Das is Professor of Economics at Vidyasagar University, West Bengal, India. He has more than 25 years of teaching and research experience in different fields of economics consisting of theoretical and applied macroeconomics, financial economics, environmental economics, and political economics. He has contributed numerous research papers to journals and books and has edited and written more than a dozen books published by leading publishers.
