Medium Powers and Emerging Economies: A Study of BRICS and MINT

Abstract

The emerging markets mainly refer to the economics of low and middle-income countries. Because of their rapid growth potential, the emerging markets give significant investment opportunities but also often present problems, including underdeveloped infrastructure, difficulties in obtaining reliable information, corruption, and the need to manage governmental bureaucracies. All the MINT and some of the BRICS countries share these common problems. Thus, the crux of this study was the need to establish how BRICS and MINT can sustain the level of Foreign Direct Investment (FDI) inflow and ensure it results in economic growth and socio-economic transformation of their countries. This work adopted the historical and descriptive research methods; data were drawn from secondary sources, and the work adopted “dependency,” “classical,” and middle path” theories as the theoretical framework of analysis. The major finding of the work was that the pattern of international relations between the most advanced economies and BRICS and MINT economies is skewed to the advantage of the most advanced economies of the North. In the final analysis the work recommended, among others, that the governments of BRICS and MINT need to ensure that their countries remain attractive for investment. It also suggested that BRICS and MINT also need to ensure political stability in their countries, as this will reduce investment risk.