Convergence and Developmental Aspects of Credit Allocations in BRICS Nations
Convergence and Developmental Aspects of Credit Allocations in BRICS Nations
Editor: Ramesh Chandra Das
Publisher: Routledge India
Publication Yaer: 2024
Edition: 1st Edition
About This Book
This book provides a comprehensive analysis of financial systems, credit allocation, and development strategies within the BRICS nations—Brazil, Russia, India, China, and South Africa. It examines how these rapidly developing economies have evolved mechanisms, including the New Development Bank (NDB) and contingency reserves, to enhance financial inclusion, foster equitable growth, and mitigate vulnerabilities to external economic and political shocks.
Focusing on the nexus between credit, growth, and development, the book explores how commercial bank credit influences income levels, convergence among BRICS economies, and inclusive development. It also analyzes the impact of domestic versus foreign credit, remittances, and capital inflows on GDP growth and exports. Special attention is given to India’s experiences with financial inclusion, credit accessibility, and policy implementation.
The second part of the book highlights sustainable development aspects, including the role of credit and financial development in promoting renewable energy, climate change mitigation, livelihood, and social inclusion. The chapters emphasize digitalization, governance, and political economy considerations as crucial factors in achieving development goals. The book further evaluates the potential of BRICS nations to cooperate on global sustainable development targets (SDGs) and to collectively challenge existing international financial structures dominated by Western institutions.
By combining empirical analysis, policy discussions, and institutional assessments, the book offers valuable insights for students, researchers, and policymakers interested in international finance, development economics, and the strategic role of emerging economies in shaping a more equitable global financial order.
Contents
Introduction
Part I: Growth and Convergence Aspects of Financial Instruments in the BRICS Nations
New Development Bank: How It Is New?
Convergence of Banking Expansion in BRICS Countries
Convergence Analysis of Monetary Sector’s Credits in BRICS Nations
The New Development Bank for BRICS: Convergence for Development Cooperation
Quality of Bank Credit and Implications for Sustainable Growth
Newly Created Contingency Reserve for Smoother Trade
Role of Domestic Credit vis-à-vis Foreign Credit on GDP and Export Growth
Financial and Real Sector Interconnections
Remittances and Bank Credit Extension
Time and Growth Rate Required for Convergence with G7
Uncertainty and Credit Growth
Quadrangular Analysis of Trade and Economic Growth
Capital Inflow and Financial Status of India
Part II: Aspects of Sustainable Development in the BRICS Nations
Credit Growth and Inclusive Development
Financial Inclusion, Digitalization, and Economic Development
Credit Impact on Renewable Energy Investments
Credit Roles in Climate Change Mitigation and Growth
FDI, Economic Growth, and Environment
Inclusive Human Development and Economic Growth
Good Governance for Inclusive Development
BRICS through the Prism of New Delhi
Current Scenario of BRICS: Economy, Expansion, and Challenges
Bank Credit, Community Participation, and Inclusiveness
Index
