The Study of Evaluation Brics-T Countries Based on the Global Competitiveness Index

Abstract

Through globalization, countries aim to have a competitive advantage about trading and increasing financial opportunities in the global market with international collaboration and economic integration. In recent years, the emerging and expanding national economies like Brazil, Russia, India, China and South Africa have became key players and taken investors' attention globally. In addition to these countries known as BRICS, Turkey is also another expanding national economy that attracts investors with strong economic growth in the last 20 years. Therefore, recently the idea of becoming one of the members of BRICS for Turkey has been considered. Nowadays, the index research studies which show the global competitiveness, rankings and detailed data profiles of the international markets are published by different authorities. One of the highly trusted authorities, World Economic Forum publishes Global Competitiveness Index every year. Index (2017Index ( -2018. In the process of analyzing the data, multidimensional scale has been used. According to the data of Global Competitiveness Index (2017)(2018), the similarities are more likely to be found between Russia and Turkey while India and China also project similar features together. The most different features have been observed between Brazil and China. The similarities are based on detailed data company profiles of global competitiveness. In conclusion, the result shows that Russia and Turkey are seen as one group while China and India generate also another group together. On the other hand, Brazil and South Africa stand alone in their own groups. The purpose of this study is to indicate similarities and differences among these 6 countries (BRICS-T) and also define comparison to each other based on the data from Global Competitiveness

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“…The similarities and differences are indicated between some BRICS countries. The similarities are observed by the Global Competitiveness Index (Bil et al, 2018).…”

A panel data analysis of the effect of state governance on the global competitiveness of BRICS nations

“…The various economic development levels shown within the designated countries' groupings revealed various frameworks for economic expansion and, consequently, global competitiveness. Bil, Güdük, and Keskin (2018) [3] used the data on the global competitiveness index as the basis for a study that aimed to highlight the similarities and differences between national economies like Brazil, Russia, India, China, and South Africa, as well as Turkey (BRICS-T), and to define comparisons between them (2017-2018). A multidimensional scale has been utilized to analyze the data.…”

The Future of the Global Trading System Taking Trade Protectionism, Global Political and Economic Forces into Account

“…The recent years have experienced a mass expansion of multinational corporations in the trading market, which also increases worldwide communication (Bil et al, 2018). The fast growth in the global trading market has opened various competitive advantages for companies in different places in the world.…”

“…The fast growth in the global trading market has opened various competitive advantages for companies in different places in the world. (Bil et al, 2018) McKinsey report (Lund et al, 2019) states that globalization refers to the arising of foreign trade in which goods and services trading blooms, with the trade in services, grows faster than the trade in goods and indeed creates value for corporations by reducing their reliance on the domestic market. Three noticeable factors explain those shifts, including the growing demand of China and the rest of the developing world, the development of comprehensive domestic supply chains, as well as the rapid advancement of new technologies.…”