DOI: 10.3897/brics-econ.7.e186730

Authors: Muhammad Sarmad Malik, Imran Ali, Vardah Iqbal, Qurat Ul Ain

Abstract: This study provides an empirical analysis of the relationship between trade and the environment in Singapore. It offers valuable insights into reconciling economic growth and environmental sustainability in this globally significant trade center and contributes significantly to policy formulation for trade-oriented economies. The paper examines empirical trends in trade openness, foreign direct investment (FDI), economic growth, sectoral contributions (agriculture, industry and services), and renewable energy and CO₂ emissions in Singapore from 1991 to 2024. To consider both linear and non-linear dynamics, a multi-model approach is used which includes fully modified ordinary least squares (FMOLS), canonical co-integrating regression (CCR), autoregressive distributed lag (ARDL) and non-linear (NARDL). The findings show that there is a positive link between total trade, foreign direct investment (FDI) and CO₂ emissions. Meanwhile, trade in commodities, renewable energy and the services sector are linked to negative effects, with industry showing the greatest positive impact on emissions. These asymmetric effects suggest different responses to economic shocks, with policy implications focusing on the expanded application of renewable energy, greater regulation of energy-intensive industries and the strategic use of Singapore’s institutional strengths to promote sustainable trade practices. It is concluded that narrowing the gap between urbanization and trade structure is a strategic approach to achieving economic prosperity and meeting the goal of global sustainable development.

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DOI: 10.3897/brics-econ.7.e170868

Authors: Yang Jingjing, Shah Mir Mowahed, Mariam Reha

Abstract: In recent decades, the role of institutions has become a central topic of discussion among scholars and policy makers. This study used time-series data from Afghanistan between 1996 and 2024 to gain new insights into the impact of political instability (POI), corruption (COR) and government effectiveness (GEF) on economic growth. The results of Quantile-on-Quantile Regression and Wavelet Quantile regression reveal that POI, COR, and GEF have adverse and statistically significant effects on GDP growth across all quantiles and over long-term time periods. Event analysis through the interrupted time series technique shows that the key political events, including the Civil War (CW), the First Round of the Taliban Regime (FRTR), U.S.-NATO interventions (USN), the Second Round of Taliban Regime (SRTR), and Regime Changes (RCH), have had a negative impact on Afghanistan’s GDP growth. The immediate impact of the Soviet Union’s war is estimated to be positive. At the same time, Afghanistan’s GDP experienced negative growth during SUW, CW, FRTR, and RCH, while during USN and SRTR, the GDP growth was positive. Based on these findings, the paper discusses possible policy implications.

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DOI: 10.3897/brics-econ.7.e171174

Authors: Yanan Zhao, Elena Frolova

Abstract: ESG governance in emerging economies is facing a major challenge: the use of global standards is expanding rapidly, but institutional asymmetries, regulatory capacity constraints and ownership structures are limiting their effective implementation. Existing empirical research still focuses on developed markets, but firm-level data on ESG corporate governance for BRICS is still scarce, even though these countries play a crucial role in global sustainability transitions. Following the PRISMA framework, this study systematically reviews 45 peer-reviewed articles on ESG corporate governance in BRICS (2021–2025) indexed in Scopus and Web of Science. Using VOSviewer keyword co-occurrence analysis, we code evidence on governance mechanisms, theoretical frameworks, research designs, policy references, empirical outcomes and regional disparities. The findings show fragmented yet rising attention to the issue, with China and India relying on state-led frameworks and South Africa following code-based, market-oriented rules. Russia and Brazil display weaker visibility in English-language journals. Board composition, ownership concentration and executive incentives appear to be decisive, but enforcement is weakened by institutional gaps. Evidence clusters around the four themes: governance and performance, ESG and firm value, ESG and risk, gender and diversity. Theory application remains limited: stakeholder, agency and institutional theories are often cited but rarely operationalised. The study extends ESG governance research by incorporating cross-country institutional contexts into a comparative analysis. Practically, ESG governance requires a closer alignment between policy development and local capacity, stronger enforcement, and more diverse research approaches. Under the right conditions, the BRICS countries can contribute to shaping global ESG standards and advance sustainable development.

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DOI: 10.3897/brics-econ.4.e101915

Authors: Liudmila Chikhun, Igor Romanov

Abstract: The paper examines the key economic and institutional factors that determine the participation of developing countries in global value chains (GVCs). To assess the impact of a number of factors on the foreign value added in export of developing countries, an econometric model for 84 countries for the period 1999-2018 is used. Obtained results indicate that developing countries with higher per capita income, more developed manufacturing industry, more open economy, less administrative burden on business and those actively engaged in foreign direct investment (FDI) activities demonstrate higher upward participation in the GVCs. It is also shown that trade liberalization and investments in foreign production strengthen the positions of developing countries in the GVCs in the long term. Based on these findings, recommendations are formulated for the state policy of these countries in order to accelerate their integration into more complex stages of the GVCs.

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