Specifying The Study Of Trade And Convergence Of Brics Economies In Post Pandemic Era

Abstract

This conference paper examines how trade, income distribution, and convergence among the BRICS countries have been affected by the formation of the BRICS economies. Trade and convergence rate relationships have been examined using intra-trade organization, panel unit roots testing, and single difference technique. An estimated convergence meter between the major trading partners of the BRICS countries and themselves has been calculated in the post-COVID-19 trade openness era. The investigation's conclusions demonstrated that the BRICS countries came closer together over the investigation's duration. However, no evidence of a connection to the formation of the post-BRICS economic union appears to exist. The post-trade reform examination of the BRICS countries produced different results with respect to trade and convergence. The panel unit roots test results also show that, with the exception of the Indian economy and import-based groups, conditional convergence is visible in the BRICS alliance and all export-based groups. Additionally, flawless convergence has been confirmed in every BRICS nation. The paper so suggests that the BRICS countries should participate in competitive trade and investment activities in the post-pandemic globalization era.