This book examines the relatively recent and under-explored phenomenon of outward foreign direct investment (FDI) from the large emerging market countries, focusing on the four BRIC states (Brazil, Russia, India, and China) and on the services sector meaning primarily telecommunications, finance, and transport. It considers the international legal framework governing FDI, discussing the nature and extent of the bilateral and regional investment treaty commitments undertaken by each of the BRIC states, including their commitments under the WTO General Agreement on Trade in Services, as well as their obligations as members of the International Monetary Fund and the World Bank. Drawing on trends observed in the regulatory approach of these countries to FDI in services, including the observed flow of FDI both to and now from the developing world, the book proposes a multilateral investment treaty aimed at the liberalization and protection of FDI in services. The treaty will capture the emerging equilibrium in global FDI patterns signifying a unified approach to the regulation of foreign investment in the growing services economy by developing and developed economies alike. The treaty will strengthen the legitimacy of investor-state dispute settlement and recognize public interest norms such as environmental protection and human rights as well as allow signatories to retain sovereignty over matters relating to national security and economic stability.

In this book, the authors investigate the rise in outward direct investment (ODI) from four emerging economies, Brazil, Russia, India and China (BRIC). Over the last two decades, these countries have transformed from recipients of foreign direct investment (FDI) into important international investors. This new book explores the reasons behind the impressive surge in ODI from developing economies, and examines the characteristics of firms within BRIC countries by creating and testing a conceptual framework. Addressing the need for a greater understanding of aggregated ODI patterns, the authors focus on the different types of ODI being employed by firms within BRIC countries, covering details such as destinations and foreign ownership structures. By evaluating the correlation between ODI and a firm’s performance, this book will be a valuable read for anyone researching international business and emerging economies.

Transculturalism and Business in the BRIC States, edited by Yvette Sánchez and Claudia Franziska Brühwiler, is the first handbook on the BRIC States that offers a transcultural perspective, which goes beyond the typical ’how to’ manuals or economic projections and provides an understanding of transculturalism as it is studied and practiced in the respective countries themselves. This unique reference book also offers insights into the relations between the corresponding states and the challenges facing those trying to foster more intense business exchanges. The reader learns to interpret cross-cultural issues from the perspectives of the BRIC states themselves and gains insight into the way scholars in the BRIC area reflect on transculturalism. Moreover, it introduces the reader to fresh visualizations that help consider transculturalism beyond the known categories. The book will appeal, on the one hand, to practitioners who are active in the BRIC states and wish to better grasp the challenges to business relations, as well as the intra-area dynamics and, on the other hand, to scholars in transcultural studies and international management, due to its insider approach. Since the book combines theoretical concepts with a clear geographic focus and a critical approach to traditional models, it is suitable for both academic audiences as well as for practitioners who appreciate a sound theoretical base and a fresh take on a subject.

Over the past 20 years, social scientists, government officials, and investors have expressed mounting interest in the BRICS countries, which include Brazil, Russia, India, China and South Africa. These countries are widely viewed as both key actors in the global economy and important regional powers. The Political Economy of the BRICS Countries is a three-volume set that aims to address various crucial issues regarding these countries.Volume 1 analyzes whether economic growth in the BRICS countries has been broad-based and promoted equitable economic and social outcomes. The authors examine specific dimensions of growth in these five economies that constrain their ability to act effectively and cohesively in international affairs.Volume 2 considers how the BRICS have affected global economic governance and the international political economy.Volume 3 provides various approaches to economic informality in the BRICS. Moreover, the chapters deal with several connections between informality and important political, economic, and institutional phenomena such as economic globalization and international aid, economic development, political regimes, social capital, political networks and political participation, labor market rules, and social policy preferences.The BRICS countries have attracted rising attention over the past two decades. The volumes provide an in-depth analysis of various key issues regarding these countries and chart a course for future research.

This volume focuses on the analysis and measurement of business cycles in Brazil, Russia, India, China and South Africa (BRICS). Divided into five parts, it begins with an overview of the main concepts and problems involved in monitoring and forecasting business cycles. Then it highlights the role of BRICS in the global economy and explores the interrelatedness of business cycles within BRICS. In turn, part two provides studies on the historical development of business cycles in the individual BRICS countries and describes the driving forces behind those cycles. Parts three and four present national business tendency surveys and composite cyclical indices for real-time monitoring and forecasting of various BRICS economies, while the final part discusses how the lessons learned in the BRICS countries can be used for the analysis of business cycles and their socio-political consequences in other emerging countries.

Explores the role of law in different areas of BRICS cooperation and the impact it can make on global governance.

Before the recent Ukrainian crisis, Russia was one of the main sources of foreign direct investment (FDI) outflow and one of the main targets of FDI inflow in the world. However, the events in the Ukraine, the formation of the Eurasian Economic Union, and China’s growing interest in the Russian market and its natural resources have changed the picture completely. This new book brings together an international group of contributors to present a timely and comprehensive analysis of FDI to and from Russia. The book assesses the impact of the changed international political situation on foreign firms operating in Russia, and explores how the new world context has affected Russian investments abroad. The book also considers the future relationship between Russian corporations and the EU and the USA in light of recent events. This book answers an array of key questions including: how have investments from and to Russia developed in the last 100 years; how are Russian businesses spreading to foreign countries through their indirect investments; and how is the Russian Government influencing the investments of Russian businesses abroad? This volume is of great interest to those who study international economics, modern world economy, and FDI, as well as those interested in international investment movements and the changing role of Russia in international business and the global economy.

The BRICS in the New International Legal Order on Investment: Reformers or Disruptors is written by international experts with BRICS backgrounds. The book investigates why and how the BRICS countries modernize their approach to the investment treaty regime. The chapters are organized by BRICS countries and discuss whether they can develop a common approach to investment treaties as well as what these countries will bring to the investment treaty regime in the future. The volume provides important perspectives on how the BRICS, an emerging power hub in international society, engage in the international legal order.

A clear and accessible introduction to one of the fastest growing and most highly debated spheres of international law.

This PIBR volume examines a number of idiosyncratic elements in the internationalization strategies of BRIC MNEs and, in particular, in their relationship with home country policies.