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BRICS Journal of Economics No.1 (2021)

Economics of nature protection and resource conservation from the Russian Empire to the USSR Achievements, failures, and conflicts

Alina Steblyanskaya, Wang Zhen, Sergey Bobylev, Vladimir Bocharnikov

Considering the attention paid to nature protection throughout the history of economics, it would be worthwhile to evaluate the scientific thought in the Russian Empire, the USSR and Russia concerning an environmentally oriented economy. The review presents an analysis of research works on this topic — from Vernadsky’s concept of the biosphere and environmentally oriented management in the USSR to the modern scientists’ ideas. In the USSR, economics of nature conservation studied the strongest interconnections between society and the ecological environment for further depleting and preventing pollution. The study identifies the leading researchers and outlines the main concepts of how the economy can reflect environmental protection and support
sustainability. 

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Dynamic linkage between trade openness and sustainable development: Evidence from the BRICS countries

Mehraj Ahmad Sheikh, Mushtaq Ahmad Malik, Rana Zehra Masood

The link between trade and sustainable development has been largely analyzed on a piecemeal basis. A comprehensive study simultaneously examining economic, social and environmental aspects of sustainable development is needed to ensure coherence between the competing results of previous studies. This study aims to examine the relevance of trade openness in defining sustainable development, with special focus on five emerging countries known as BRICS, using the dynamic panel autoregressive distributed lag (ARDL) approach. The results indicate that economic growth has a tendency to enhance sustainability in both the long and short run. However, trade openness, energy consumption and foreign direct investment are extremely detrimental for sustainable development.

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A measurement instrument of cognitive economics in the BRICS countries

Evgeniya Gorlacheva, Tatiana Tikhomirova

The paper envisages the key features of the cognitive economics in the BRICS countries. Due to their substantial impact on the development of the world economics, it is necessary to investigate the cognitive processes in these countries. The distinctive feature of the current world economy is the quality transformation of its technological basis that forms global challenges for the future world economic development. The essence of this transformation is to strengthen cognitive processes: emergence of robots, commercial spread of artificial intelligence technologies, changes in labor skills, etc. These quality changes lead to the formation of a new stage of economics — cognitive
economics. As a sphere of scientific research, cognitive economics includes three main domains: intellectual systems, knowledge management, and cognitive technologies. Despite the fact that all these phenomena are present in the economy of each country there is no suitable instrument that can measure cognitive processes at the country level.
The purpose of this paper is to elaborate a measurement tool for evaluating the level of cognitivization in the BRICS countries. Taking into account this goal, the authors developed an aggregated index based on a generalized principal component analysis. As a result, the main parameters that make the greatest contribution to the cognitive index were identified. Comparison at the country level shows that the first sub-index has more weight connected with the human capital of the countries. As for R&D and ICT infrastructure — the second and third sub-indices — the situation in the BRICS countries is almost the same. The obvious conclusions of the monitoring are that cognitive economics in the BRICS countries has a chance to intensify their economic development and slash the backlog with the developed countries.

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Changes in consumer behavior in the BRICS countries during the COVID-19 pandemic: The role of trust and anxiety

Svetlana Berezka, Vera Rebiazina, Snezhana Muravskaia

In the spring of 2020, the COVID-19 pandemic created a new reality. Each country has implemented different measures to contain the pandemic, which has had many consequences for society and businesses. The purpose of this paper is to improve understanding of how the COVID-19 pandemic has changed consumer behavior in the BRICS countries and discuss the role of consumer trust and anxiety. A systematic literature review with a bibliometric analysis was carried out to identify research directions and reveal the role of trust and anxiety in consumer behavior. Differences in consumer responses to the COVID-19 pandemic challenges in Brazil, Russia, India, and South Africa were identified based on an analysis of an international database of online surveys. An empirical study of Russian consumers was conducted in the spring of 2020. Cluster and factor analyses were applied to reveal different consumer strategies of coping with the crisis. The study revealed differences in consumer trust and the level of anxiety in the BRICS countries. In the empirical study of Russian consumers, anxiety was identified as one of the factors in changing consumer behavior in response to the COVID-19 pandemic.

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Consumer behavior in China and Russia: Comparative analysis

Tiantian Li, Ximeng Ye, Anastasiya Ryzhikh

This article is a study of consumer behavior in China and Russia. The research studies scientific publications and consumer preferences in both countries. Comparative analysis shows that Russia and China, which are rapidly entering a new era of consumption, differ in the level of development of consumer behavior that is directly related to the level of development of digital technologies. Therefore, the impact of COVID-19, the development of digitalization, and the spread of Internet technologies have led to an improvement in diversified consumer preferences that contributed to a change in consumer behavior in China. Currently, there is an insufficient level of digitalization of society in Russia, which does not allow to fully interact with consumers and influence their
preferences. The authors also identify contemporary trends in consumer behavior worldwide. In addition, some factors that determine the choice of a certain type of consumer behavior are also identified: external factors, motivational factors, and functional factors. Based on the results of the study, a universal model of the influence of various factors on the behavior of Russian and Chinese consumers is formed and some recommendations are given to sellers during the COVID-19 period.

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