Abstract:

This article, based on the BRICS Central Banks statistics, IMF CDIS Data, and experts’ estimations, evaluates scales of mutual direct investments among BRICS countries. Investment cooperation within BRICS is a growing phenomenon, which is currently not well understood. The article has revealed significant bilateral asymmetry, omissions and a partial confidential status of BRICS mutual FDI official data. The authors have calculated the value of accumulated intra-BRICS investments in the amount of $202 billion in 2017 based on the immediate investing country method, which is the standard basis for the dissemination of bilateral direct investment statistics. In addition, the paper presents estimations of BRICS direct investment liabilities based on the ultimate investor country method. The authors emphasize the importance of firm-level data based on the UIC method for providing information to BRICS policymakers about the real volumes and the ultimate investors in their countries and, therefore, tools for stimulating the growth of direct investments within BRICS.