The BRICS basic infrastructure suffers from a huge financing gap, but their massive foreign exchange reserves lack profitable outlets and member states＇ self-contained management costs are extremely high. The coincid...The BRICS basic infrastructure suffers from a huge financing gap, but their massive foreign exchange reserves lack profitable outlets and member states＇ self-contained management costs are extremely high. The coincidence of the need for basic infrastructure investment and the need for profitable foreign exchange reserves are the immediate reasons for setting up the BRICS Development Bank. Comparative advantage and the co-movement of fluctuations in the BRICS member states optimize their cooperative interests. A co- movement game model analysis enables us to deduce the logical necessity for cooperation among the BRICS. Compared with other patterns of cooperation, virtual networks enable this financial cooperation to yield benefits in a short timeframe. The mutually supportive relationship between development and stability in the BRICS economies provides a solid rationale for the establishment of the New Development Bank.展开更多
基金the initial results of the SSFC-funded project "Assessment of the desired scale of foreign exchange reserves of the BRICS countries:multiple motives,big country models,cooperative adjustment"(No.13BGJ039)the National Soft Science Research Program-funded major project "Study on key issues of BRICS'Multi-level Strategic Cooperation"(No.GXS3D043)sponsored by the Center for Collaborative innovation between Modern Service Industry Developmentand New Urbanization in Hunan
文摘The BRICS basic infrastructure suffers from a huge financing gap, but their massive foreign exchange reserves lack profitable outlets and member states＇ self-contained management costs are extremely high. The coincidence of the need for basic infrastructure investment and the need for profitable foreign exchange reserves are the immediate reasons for setting up the BRICS Development Bank. Comparative advantage and the co-movement of fluctuations in the BRICS member states optimize their cooperative interests. A co- movement game model analysis enables us to deduce the logical necessity for cooperation among the BRICS. Compared with other patterns of cooperation, virtual networks enable this financial cooperation to yield benefits in a short timeframe. The mutually supportive relationship between development and stability in the BRICS economies provides a solid rationale for the establishment of the New Development Bank.
