A study of macroeconomic effects on the growth of BRICS: a systematic review

Abstract

The purpose of this paper is to synthesise the existing literature on study of macroeconomic variables on the economic growth of BRICS countries in a systematic manner, where GDP has been proxied as measure of economic growth; to study the macroeconomic variables affecting the stock market of BRICS nations through content analysis. Systematic literature review (SLR) has been carried out in line with the five-step process as formulated by Rowley and Slack (2004). The paper has largely contributed in terms of naming the major causative authors, some of the high-ranking journals, types of data and nation-wise input for the macroeconomic variables and growth of BRICS countries. Further, the results also highlighted the experiential in nature of these studies. Further, the study addressed the prevailing gaps that confine the influence of macroeconomic variables and restrict the growth of BRICS countries. Hence the literature is accordingly proposing directions for future research.