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Development paradigms for urban housing in BRICS countries
This book is a concise treatise of the alternative paradigms used in BRICS countries to tackle urban housing shortages. There are a number of alternative methods for meeting these shortages which BRICS countries have adopted. These alternatives may agree in terms of desired outcome, but when it comes to approach, mechanics and scope, they are entirely divergent. By focusing on the political economy and the international structure of each BRICS country, these perspectives present alternative and often conflicting approaches to the attainment of better housing. Development Paradigms for Urban Housing in BRICS Countries explores the various political, economic, institutional and cultural factors that have shaped the housing outcomes in BRICS countries that we see today. The book uses a framework which allows comparison between Brazil, Russia, India, China and South Africa, whilst recognizing the differences in the development path that each of these countries has taken.
Book
Institutions and FDI from BRICS countries: a meta-analytic review
Emerging multinational corporations are grown-up from environments where institutional quality (IQ) is generally poor and market mechanisms are inefficient. Having experience at home, firms from emerging markets have transformed institutional disadvantages into advantages, especially through investing in developing countries. In terms of investing abroad, is the host country's institutional quality a point of concern for emerging multinational corporations? Despite the economic benefits of well-organized institutions, several studies empirically tested the role of institutional quality on foreign direct investment (FDI) from emerging markets to provide inconclusive results. This study conducted a meta-analysis and empirical examination of the IQ-FDI nexus from five emerging markets, namely Brazil, Russia, India, China, and South Africa, collectively referred to as BRICS countries. We found that emerging multinational corporations invested in risky markets where institutional quality is generally modest. Our results suggest that state-owned enterprises persuasively invested in Africa for natural resources when they evaluate a positive and significant effect size of IQ on FDI. We also found that collected estimates contain genuine evidence concerning the effect of a host country’s institutional framework on FDI from BRICS countries.
Journal Article
Is there a price bubble in the exchange rates of the developing countries? The case of BRICS and Turkey
Purpose - The last decades have experienced increasingly integrated global political and economic dynamics ranging especially from the influence of exchange rates and trade amid other sources of uncertainties. The purpose of this study is to examine the exchange rate dynamics of Brazil, Russia, India, China, and South Africa (BRICS) and the Republic of Turkey. Design/methodology/approach - Given this perceived global dynamics, the current study examined the BRICS countries and the Republic of Turkey's exchange rate dynamics by using the United States (US) monthly dollar exchange rate data between January 2002 and August 2019. The price bubble which is expressed as exceeding the real value of assets' prices which is observably caused by speculative movements is investigated by using the Supremum Augmented Dickey-Fuller (SADF) and the Generalized Supremum Augmented Dickey-Fuller (GSADF) approaches. Findings - Accordingly, the GSADF test results opined that there are price bubbles in the dollar exchange rate of other countries except for the United States Dollar (USD)/Indian Rupee (INR) exchange rate. As the related countries are classified as developing countries in terms of their structure, they are also expectedly the subject of speculative exchange rate movements. Speculative movements in exchange rates may cause serious problems in national economies. Originality/value - Thus, the current study provides a policy framework to the BRICS countries and the Republic of Turkey.
Journal Article
Harnessing the potentials of technology incubation centres (TICs) as tools for fast-tracking entrepreneurship development and actualisation of the Vision 20:2020 in Nigeria
Purpose - Entrepreneurship development in Nigeria requires the adoption and assimilation of enterprise development models from nations with replicable success stories. Technology incubation centre (TIC) is one of the potent mechanisms that launched the \"BRIC nations\" - Brazil, Russia, India and China - to global prominence as the five biggest emerging economies. This paper attempts to unveil the potentials of TICs as novel tools for entrepreneurship development and actualisation of the Vision 20:2020 in Nigeria. Design/methodology/approach - The authors adopt analytical and discursive approaches using qualitative and quantitative data sourced from Industrial policy documents, Goldman Sachs report, online databases of government agencies, Vision 20:2020 policy document and published articles on the subject matter. The generated data were subjected to content and thematic analyses, on the basis of which relevant conclusions were drawn. Findings - The findings from the research indicate that there are 37 TICs in Nigeria with very weak socio-economic impact on job creation, wealth creation and industrial development in Nigeria. However, for the BRIC nations, adopted as comparative models, TICs have impacted positively on job creation, wealth creation and economic development of the five nations. Research limitations/implications - The paper is essentially discursive and subjective. Further research on this subject matter should explore empirical analysis for an objective assessment of the situation. Practical implications - This paper underscores the need for harmonisation of policy objectives with policy implementation. At present, there are gaps between TIC policy objectives and woeful performance of the 37 TICs in Nigeria. Social implications - For Nigeria, to enhance job creation, wealth creation and economic development in the society, there is the need for functional TICs at local, institutional, regional, state and national levels. Originality/value - The paper unveils the gap between economic theory and practical model implementation in developing economy (Nigeria). It is a major contribution to the functionalist and structuralist debates on why policies fail.
Journal Article