The Ecosystem Approach to Establishing a Unified Development Institution: the Case of Brics Countries
Year: 2024
Type: article
Abstract: The article explores the ecosystem approach as a conceptual framework for establishing a unified development institution, with a focus on BRICS countries. The purpose of the study is to analyze the possibility of forming a single development institution based on an ecosystem approach using the example of the BRICS countries. The object of the study is national and international development institutions, and the subject is institutional management mechanisms based on an ecosystem approach. The author analyzes the specific application of the ecosystem approach in national and international development institutions, emphasizing institutional management mechanisms and their adaptation to contemporary challenges. The study highlights the key advantages of the ecosystem approach, such as increased transparency, reduced transaction costs, and the integration of digital technologies. Particular attention is given to the reform of the development institution system in Russia, including the creation of a unified institution based on VEB.RF. Examples of successful implementation of the ecosystem approach in BRICS countries are presented, along with prospects for utilizing such models to ensure sustainable economic growth. The research employs methods of systems, structural-functional, and institutional analysis, enabling the author to propose effective solutions for enhancing the resilience of economic systems amidst global instability.
Author: A. G. Glebova
Institution: Financial University
Language: English
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: hybrid
OpenAlex ID: W4405891843