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Abstract
This study aims to investigate how Foreign direct investment (FDI) and trade openness influenced economic growth in BRICS countries from 1990 to 2022, using the Pooled Mean Group Autoregressive Distributed Lag (PMG-ARDL) and System Generalized Method of Moments (System-GMM) methods. Our findings show that these two variables boost economic growth by 0.172, 0.021, 0.291, and 0.072%, respectively. Additionally, the results indicate that BRICS countries have demonstrated greater resilience in terms of FDI and trade before and after the COVID-19 pandemic and the Russia-Ukraine war, underscoring the effectiveness of their investment and trade policies in maintaining economic growth amidst global disruptions.
Disclosure statement
No potential conflict of interest was reported by the author(s).
Data availability statement
The context of our study relies on panel data for BRICS countries (Brazil, Russia, India, China, and South Africa) covering the period from 1990 to 2022, and the data are taken from the World Development Indicators (WDI), using Stata 17 software to run different programs.
The data is available on request from the corresponding author.