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Группа авторов. The Political Economy of the BRICS Countries
Preface
About the Editors-in-Chief
About the Editors
About the Contributors
Contents
Introduction
CHAPTER 1. BRICS: The Political Economy of Non-Inclusive Growth
Introduction
Domestic Stability and International Influence
Initial Growth Paths
Persisting Social and Economic Inequalities
Corruption and Political Capture
Conclusion
References
CHAPTER 2. Future of BRICS as an Economic Block: Does Macroeconomic Heterogeneity and Unshared Political Mandate Stand in Its Way?
Introduction
Size of the BRICS Economies and Their Growth Trajectory
Macroeconomic Policies in BRICS
Monetary Policies
Exchange Rate Regime
Fiscal Policies
Foreign Trade
Future of BRICS Cooperation
Concluding Observations
References
CHAPTER 3. China’s and India’s Economic Performance After the Financial Crisis: A Comparative Analysis
Introduction
Section 1: Concerns About Quality of Macroeconomic Data
Section 2: Policy and Performance After the Financial Crisis. China
Composition of Debt
Rising Real Estate Prices
India
Section 3: A Comparison between China and India. Similarities
Differences
Section 4: Summary and Conclusion
Acknowledgments
Appendix 1: China’s Economic Indicators (Source: IMF’s country report, 2016)
Appendix 2: India’s Economic Indicators
References
CHAPTER 4. Inter-Group Disparities in Growing Economies: India Among the BRICS
Introduction
Why Between-Group Inequality
Issues in Measurement
Data and Results
India Among the BRICS
Conclusion
References
CHAPTER 5. Inequality and Poverty in India and Brazil Since the 1990s: A Comparative Analysis*
Introduction
Inequality and Poverty in India Since the Onset of Economic Reforms
Brazil in the Age of a Second Democratization
Comparison and Explanations
Discussion and Conclusions
References
CHAPTER 6. Sustainable Development and BRICS: Unity Amid Diversity?
Introduction
Environmental Issues, the Nation State, and BRICS
BRICS: The Emerging Superstars of Growth
What the Data Suggest
China
India
Brazil
Russia
South Africa
Is BRICS Important at All?
Concluding Remarks
References
CHAPTER 7. Universal Health Coverage in BRICS: What India Can Learn from the BRICS Experience?
Introduction
Understanding UHC in BRICS Countries: A Framework
Health Status and Disease Burden in BRICS
Progress Towards UHC: Selected Indicators. Access to Primary and Basic Care
Financial Protection
Financing for UHC
Enabling Environment: Governance and Reforms. Governance
Health Sector Reforms
Brazil
China
Russia
South Africa
India
UHC in BRICS: Takeaways for India
What Lessons Can India Draw from These Experiences?
Appendix
References
CHAPTER 8. Inclusive Finance: India Through the BRICS Lens
Introduction
Inclusive Finance: Philosophy, Rationale, and Process
Box 1: Innovative ideas for financial inclusion
Cross-Country Experience
Financial Access and Use
Mobile Money
Barriers to Financial Inclusion
Alternative Sources of Borrowings
Determinants of Financial Inclusion
Financial Crisis and Financial Inclusion
Emerging Areas of Focus
Gender and Financial Inclusion
Pradhan Mantri Jan Dhan Yojana (PMJDY)
Technology and Financial Inclusion
Box 2: G2P payments: Evidence and practices
New Institutional Initiatives
Box 3: New banking institutions
Government-to-Person (G2P) Payments
Financial Literacy and Customer Protection
Box 4: Consumer protection and financial literacy: What does global evidence suggest?
Box 5: Financial literacy in India: What is the evidence?
Central Banks and Financial Inclusion
Box 6: Financial literacy around the world
Concluding Remarks
Acknowledgments
References
CHAPTER 9. Gender, Education, and Programma Bolsa Familia in Brazil
Introduction
Historical Antecedents of the Racial Issue
Racial Identity, Women, and Education
Female Education in Brazil: A Synoptic Overview
Conditional Cash Transfers and Women’s ‘Empowerment’: Programma Bolsa Familia
By Way of a Conclusion
References
Index
Editor’s Note and Acknowledgments
About the Editors-in-Chief
About the Editor
About the Contributors
Contents
Introduction
From BRIC to BRICS: Origins and Evolution
Beyond BRICS
Conceptualizations: BRICS as Emerging Markets and Rising Powers (with Rajeev Arumugam, Manali Kumar, and Florian Winkler)
BRICS as Rising Powers
Organization of the Volume
Understanding the BRICS Phenomenon
Regionalism and Foreign Aid
Investment and Finance
Climate Negotiations and Energy Governance
Representation, Fragmentation, and Legitimacy
References
CHAPTER 1. Brazil as a BRICS Country
Introduction
Brazil and the WTO
Brazilian Assertiveness in the WTO
Brazil’s Strong Preference for Multilateralism
Concluding Remarks
References
CHAPTER 2. Russia in Global Economic Governance
Introduction
Russia and Global Governance: Te WTO
Russia and Regional Governance: The EAEU
Conclusion
References
CHAPTER 3. India and Global Governance
Introduction
India in the BRICS
India in the Global Governance: An Assessment
India in the Regional Political Economy
Rising Power Ambitions and the Domestic Constraints
Future Prospects
References
CHAPTER 4. China and Global Economic Governance
Introduction
Earlier Assessment of China’s Behavior in Global Economic Governance
Sources of Chinese Behavior
Socialization and Normative Influences
Domestic Sources
Leadership Preferences
Interest Groups
Political Institutions
Influence of International Institutions
Toward Two-Way Socialization in International Economic Institutions
Research Frontiers
Power and Economic Statecraft
The Political, Social, and Economic Implications of China’s Economic Ascent
China’s Emerging Institutional Statecraft and Its Implications for Global Economic Governance
Conclusion
References
CHAPTER 5. South Africa, BRICS, and Global Governance: How SA Tried to Change the World and Succeeded in Changing Itself
Introduction
South Africa as “Another BRIC in the Wall” (Carmody, 2012)
South Africa as a BRICS Member: From Bridge-Builder to Regional Power
How Successful Was the BRICS Experiment?
Conclusion
Want to Know More?
References
CHAPTER 6. Emerging Economies — But Regional Powers? The BRICS and Regionalism
Introduction
Towards a Regional Leadership?
Brazil: Post-Hegemonic Regionalism
Russia: Competitive Regionalism
India: Selfish Regionalism
China: Regionalism with “Chinese Characteristics”
South Africa: Self-Interested Regionalism
Same Same But Different: Explaining BRICS’ Role as Regional Powers
Power-Based Approaches
(Economic) Interdependence
Regime Type and Domestic Politics
Conclusions: From Regional Powers to Global Leaders?
References
CHAPTER 7. BRICS and Foreign Aid
Introduction
What Is Different About BRICS Aid?
Brazil
Russia
India
China
South Africa
Conclusions
References
CHAPTER 8. BRICS and the Global Investment Regime
Introduction
BRICS and the Global Investment Regime: An Overview
South Africa
Brazil
Russia
India
China
BRICS and the Global Investment Regime: Convergence, Divergence and Research Frontiers
Balancing Interests as FDI Recipients and Senders
Domestic Political Institutions
Bringing Interests and Institutions Together
Conclusion: Implications for the Future of the Global Investment Regime
References
CHAPTER 9. Exchange Rate Policies of the BRICS
Introduction
Global Trends and Stylized Facts
Exchange Rate Policies of the BRICS
Brazil
Russia
India
China
South Africa
Convergence and Divergence in the Exchange Rate Policy of the BRICS
Explanation. Choice of Exchange Rate Regime
Exchange Rate Valuation
Moving Forward: Advancing the “Third Generation” Research Agenda
References
CHAPTER 10. He Who Pays the Piper Calls the Tune: And the “Relocation of the World’s Credit Rating Center” Goes To?
Introduction
The Status Quo. Criticism of “Big Three” Driving Calls for “Own” CRA
The Persistence of the CRA Oligopoly
The Case of the Chinese CRA Industry. Overview: From Ornament to Systemic Relevance?
Major Players
The Pioneer
The Example of a Joint Venture
The “Big Fish”
Sovereign Ratings — Dagong Only Reinventing the Wheel?
“American-ness” of CRAs Our Problem — Chinese and/or BRICS Rating Agency the Solution? The Presumptive US Home Bias of the “Big Three”
“American-ness” of CRAs Our Problem, Really?
Not American-ness, but Outraged Policymakers
Not American-ness, but Unintended Consequences
Not American-ness, but Special Role of USD
Not American-ness, but Susceptibility of Sovereign Ratings to be Interpreted as Political Instruments
Not American-ness, but Other Biases
Not American-ness, but Transnational Character
Not American-ness, but Regulatory and Institutional Reliance on CRA Ratings
Not American-ness, but “Market Forces” vs. “the State”
Not American-ness, but Flawed Methodology
Conclusion
References
CHAPTER 11. Treaty Shopping and Unintended Consequences: BRICS in the International System
Introduction
The BRICS and Treaty Shopping in an Interdependent World
The Role of Firms: MNCs and Law Firms
Convergence and Divergence among EMEs and BRICS
Russia
China: Treaty Shopping in Arbitration and Taxation
India: Limiting Taxation “Round Tripping”
Pushback from the BRICS and Around the World: India, South Africa, and Brazil
Examples from Other Emerging Markets
Research Frontiers
Conclusion
References
CHAPTER 12. BRICS in the International Climate Negotiations
Introduction
Emerging Powers within the UNFCCC: BRICS, BASIC or just China?
The Emergence of BASIC
Russia: The Outlier Within BRICS
Assessing the Strength of BRICS Member Countries in the UNFCCC Negotiations
India: Principled Approach to UNFCCC Negotiations
China — Rising Negotiation Star
Brazil and South Africa — Playing Bridging Roles
Where BASIC Is Challenging the Established Players
Own Challenges and Inconsistencies Within the BASIC Group
Whither BRICS in the International Climate Negotiations? Convergence, Divergence, and Research Frontiers
References
CHAPTER 13. The BRICS, Energy Security, and Global Energy Governance
Introduction
Trends and Shifts in Energy Markets: Supply, Demand and Energy Transitions
Energy Transitions Among the BRICS
The BRICS and Energy Governance
Contentious Issues Among the BRICS
The BRICS and Advanced Industrial Countries
Relations Between the BRICS and Other Developing Countries
The BRICS and the International Political Economy of Energy: Convergence, Divergence, and Research Frontiers
Conclusion
References
CHAPTER 14. BRICS and the International Financial Institutions: Voice and Exit
Introduction
BRICS and the IFIs: Voice and Exit
Voice
Discontent with Governance Structures
Reforming the Quota Formula in 2008
Voicing Discontent with Key Policies
Case of the Special Drawing Right (SDR)
Changing Views on Capital Controls
Explanations
Credible Threat of Exit
Institutional Factors
Negotiation Strategies
2008 Financial Crisis
Pathways to Exit?
Asian Infrastructure Investment Bank (AIIB)
The New Development Bank (NDB)
Contingent Reserve Arrangement (CRA)
Explanations
Institutional Gap
Slow Reform at the IMF/WB
Chinese Ambitions
Challenges to the US-Led Order
New Research Frontiers on BRICS and IFIs
References
CHAPTER 15. The Representation of BRICS in Global Economic Governance: Reform and Fragmentation of Multilateral Institutions
Introduction
Representation Conflicts in Global Economic Governance
Informal Economic Policy Coordination: The G7/G20
Representation Conflict
Institutional Outcomes
International Trade: The WTO
Representation Conflict
Institutional Outcomes
International Financial Stability: The IMF
Representation Conflict
Institutional Outcome
Development Finance: The World Bank
Representation Conflict
Institutional Outcome
Conclusion and Future Research
Acknowledgements
References
Index
Editor’s Note and Acknowledgments
About the Editors-in-Chief
About the Editor
About the Contributors
Contents
CHAPTER 1. Introduction: Political Economy Approaches to Informality and Recent Trends in BRIC Countries
Why (The Politically Economy of) Informality in BRIC Matters
Social and Economic Realizations of Informality
Political Economy Approaches to Informality
Overview of the Volume
References
CHAPTER 2. A Comparative Analysis of Tax System in the BRICs and the Challenges Ahead: Informality and the Fiscal Contract
Introduction
National and International Hindrances to Taxation and Informality
Taxation and Informality in the BRIC
Tax Revenue and Economic Development: Placing the BRIC in Their Geographical and Historical Contexts
The Tax Structure in the BRIC
Challenges in the BRIC: Informality, Capacity, and the Social Contract
Firms
Citizens
Conclusion: The Challenge of BRIC and Understanding the Informality on Taxation
Appendix
References
CHAPTER 3. Is Informal Work Eroding Compliance?
Introduction
Informality: Concept Clarification and Measurement Issues
Tax Compliance: The Classical “Umbrella” for Informality
Theoretical Considerations
Voluntary and Involuntary Entry into the Informal Labor Market
Involuntary Informality, Responsibility Attribution and Disenchantment
Discussion and Conclusions
References
CHAPTER 4. Can Tax Aid Broaden the Base? International Assistance, Taxation, and the Informal Sector in the BRICs
Introduction
Taxation and Informality in the BRICs
International Tax Aid in the BRICs
The Impact of Tax Aid on Revenue and Informality in the BRICs
Conclusion
References
CHAPTER 5. Social Capital, Leadership Accountability, and Public Services in the Slums of India
Introduction
Theoretical Framework
Fundamental Rationale: Social Capital and Agency
Voting as a Social Experience
Slum Leaders and Brokerage Roles
Hypotheses
Empirical Analysis
Description of Relevant Variables from Survey Questions
Results
Concluding Remarks
Policy Implications
Future Research
Appendix. Factor Analysis for Social Capital Index
References
CHAPTER 6. Informal Electricity Consumption and Political Regimes: Implications for Political Change in BRIC Countries*
Introduction
Economic Cycles and the Demand for Irregular Electricity Access
Political Regimes and Informal Insurance
Descriptive Evidence from Developing Countries and the BRICs
Concluding Remarks
References
CHAPTER 7. How the Labor Force is Mobilized: Patterns in Informality, Political Networks, and Political Linkages in Brazil
Introduction
How the Labor Force is Mobilized
Defining and Measuring Informality
The Changing Patterns of Informality in Brazil
Data and Method. Brazilian Census Data
Brazilian Electoral Panel Study
Empirical Approach
Informality and Political Mobilization in Brazil
Gender and Informality
Evaluating Changes in Local Informality
Conclusion
Appendix. A.1 Gender and Informality
A.2 Alternative Participation Outcome Measures
A.3 BEPS 2014 Analysis
References
CHAPTER 8. Redistributive Preferences in Contemporary Brazil
Introduction
Literature
Redistributive Preferences in Latin America
The Brazilian Case and Hypotheses
Research Design. Data Sources and Variables
Methods of Analysis
Findings. Cross-National Evidence and Profiles of Redistributive Preferences
Determinants of Redistributive Preferences
Conclusions
Acknowledgments
Appendix
References
CHAPTER 9. Understanding Informality in China: Institutional Causes and Subsequent Measurement Issues
Introduction
Definition of Labor Informality
Labor Informality in Latin America
The Cause: Development Strategy and Social Insurance
The Consequence: Measures and Trends of Labor Informality in Latin America
Chinese Labor Informality in Historical Perspective
Labor Informality in the Early Market Reform Era (~1990s): The Growth of the Informal Sector
Labor Informality in the Market Reform Era (mid-1990s to early 2000s): Labor Informality’s Contagion to Formal Sector
Labor Informality in the 2010s: The Emergence of Dispatch Workers
Labor Informality and the Revision of the Labor Contract Law in 2013
Measuring the Size of Labor Informality in China
The Difficulty of Measuring Chinese Labor Informality
Estimates from Official Statistics Using the Residual Methods
Estimates from Survey Data
A Snapshot of Chinese Labor Informality in the 2010s
Conclusion and Implications
References
CHAPTER 10. Insiders, Outsiders, and the Politics of Employment Protection: Insights from the Brazilian Case
Introduction
Employment Protection Rules, Dualization, and Labor Market Preferences. Dualization in Developed Nations
Labor Informality in Developing Countries
Empirical Evidence for Insider–Outsider Models of Politics. Preferences for Labor Market Policies
Insider–Outsider Political Behavior
Challenges to the Insider–Outsider Model
Labor Market Preferences and Insider–Outsider Politics in Brazil. Individual Employment Protection Legislation in Brazil and Labor Market Outcomes
Labor Market Preferences and Workers’ Political Polarization
Discussion
Concluding Remarks
References
CHAPTER 11. Conclusions
Index
