Journal of Economics, Management and Trade Home / Archives / 2024 - Volume 30 [Issue 11] / Original Research Article The Dynamics of Trade and Investment on the Expansion of BRICS Economies  Full Article - PDF Review History Discussion Published: 2024-11-19 DOI: 10.9734/jemt/2024/v30i111252 Page: 50-62 Issue: 2024 - Volume 30 [Issue 11] Akinyele Olawale Daniel * Department of Economics, Obafemi Awolowo University, Ife Nigeria. Lawal Toluwabori Northumbria University, United Kingdom. Soyoye Olutayo Owolabi Ronik Polytechnic, Nigeria. Olufemi Olatunde Department of Economics, Obafemi Awolowo University, Ife Nigeria. *Author to whom correspondence should be addressed. Abstract Search  5/30/25, 1:10 PM The Dynamics of Trade and Investment on the Expansion of BRICS Economies https://journaljemt.com/index.php/JEMT/article/view/1252 1/3 https://journaljemt.com/index.php/JEMT/index https://journaljemt.com/index.php/JEMT/index https://journaljemt.com/index.php/JEMT/issue/archive https://journaljemt.com/index.php/JEMT/issue/view/179 https://journaljemt.com/index.php/JEMT/article/view/1252/2526 https://journaljemt.com/index.php/JEMT/article/view/1252/2527 https://journaljemt.com/index.php/JEMT/article/view/1252/2528 https://doi.org/10.9734/jemt/2024/v30i111252 https://journaljemt.com/index.php/JEMT/issue/view/179 https://journaljemt.com/index.php/JEMT/search Purpose: The dynamics of trade and investment in the context of BRICS economies, provide crucial insights into how emerging economies influence economic growth and development and unlock the potential for cooperation among member states. BRICS has become a major global key player due to the advantage in demographic, geographic and economic attributes peculiar to the economies. Deeper ties and cooperation among BRICS have fostered growth and development from trade openness, capital inflow, acquiring technological know-how and administrative abilities to growing economies. Hence, the study assessed the dynamics of trade and investment in the expansion of BRICS economies Methodology: The study employed cross-sectional models via the panel-corrected standard error, Discrol and Kraay and Augmented Mean Group in the context of BRICS and BRICS+ countries between 1990 and 2022. Thus, contributes to a deeper understanding of the economic integration and performance of emerging markets. Furthermore, the study evaluates the Dumitrescu–Hurlin panel causality to answer the question of potential causation among the variables. Results: Findings reveal that trade and FDI have a dynamic impact on the expansion of BRICS economies. An increase in BRICS membership situates an increase in market coverage, the spread of the spillover effect, and deeper ties and cooperation among BRICS. Trade openness has a positive and significant impact on the BRICS+ economies. Meanwhile, FDI has a negative and significant impact on the BRICS+ economies. There is a bidirectional relationship between trade openness, foreign direct investment and economic growth in the expansion of BRICS economies. Conclusion: This study concludes that trade openness and foreign direct investment should be used to foster more of deeper ties and cooperation than economic profit among BRICS. Keywords: Trade openness, foreign direct investment, cross-sectional dependence, BRICS HOW TO CITE Akinyele Olawale Daniel, Lawal Toluwabori, Soyoye Olutayo Owolabi, and Olufemi Olatunde. 2024. “The Dynamics of Trade and Investment on the Expansion of BRICS Economies”. Journal of Economics, Management 5/30/25, 1:10 PM The Dynamics of Trade and Investment on the Expansion of BRICS Economies https://journaljemt.com/index.php/JEMT/article/view/1252 2/3 and Trade 30 (11):50-62. https://doi.org/10.9734/jemt/2024/v30i111252. See more details  Full Article - PDF Review History Discussion Published: 2024-11-19 DOI: 10.9734/jemt/2024/v30i111252 Page: 50-62 Issue: 2024 - Volume 30 [Issue 11] © Copyright 2010-Till Date, Journal of Economics, Management and Trade. 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