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  • STUDIA UNIVERSITATIS PETRU MAIOR, SERIES OECONOMICA, FASCICULUS 1, anul V, 2011, ISSN 1843-1127

    71

    EVOLUTIA INVESTITIILOR STRAINE DIRECTE IN

    ECONOMIILE BRAZILIEI, RUSIEI, INDIEI SI CHINEI (BRIC)

    THE EVOLUTION OF FOREIGN DIRECT INVESTMENT IN

    BRAZIL, RUSSIA, INDIA AND CHINA ECONOMIES (BRIC)

    Paula NISTOR

    Universitatea Petru Maior din TrguMure

    Facultatea de tiine Economice, Juridice i Administrative

    Departamentul de Finane-Contabilitate

    Str. Nicolae Iorga, nr.1, Trgu Mure, MURE, 540088, Romnia

    email: paula.nistor@ea.upm.ro

    Abstract: Acesta lucrare are ca obiectiv analiza evoluiei investiiilor strine directe n economiile

    Braziliei, Rusiei, Indiei si Chinei. Aceste patru

    economii cunoscute si sub denumirea de economiile

    BRIC, sunt considerate cele mai mari economii

    emergente, avand un potential ridicat pentru a ajunge

    economii dezvoltate. Necesitatea, importana i

    efectele investiiilor strine directe au atras atenia

    tuturor statelor i a produs o concuren intens

    pentru atragerea capitalului strin. Intrarile de ISD

    au un rol foarte important n dezvoltarea i stabilirea

    noilor puteri economice mondiale.

    Cuvinte cheie: Investitii straine directe, economii emergente, economiile BRIC, criza financiara.

    Clasificare JEL: F23, O4, O57, P45

    Abstract: This paper aims to analyze the evolution of foreign direct investment in the economies of

    Brazil, Russia, India and China. These four

    economies known as BRIC economies, are considered

    the largest emerging economies, with a high potential

    to reach developed economies. The need, the

    importance and the effects of foreign direct

    investments have attracted the attention of all the

    states and produced an intense competition to attract

    the foreign capital. FDI inflows have a very

    important role in the development and establishment

    of the new world economic powers.

    Keywords: foreign direct investment, emerging economies, BRIC economies, financial crisis

    JEL Classification: F23, O4, O57, P45

    mailto:paula.nistor@ea.upm.ro

  • Paula NISTOR

    72

    1 INTRODUCERE

    Darorita multiplelor efecte benefice pe care le au

    asupra economiei receptoare, ISD determin o

    adevrat competiie la nivel mondial. n contextul

    economic actual, investitorii manifest un interes

    din ce n ce mai pronunat ctre economiile

    emergente, n cautarea unor profituri mai mari n

    detrimentul economiilor dezvoltate. O ar

    emergent este acel stat a crui economie

    reprezint cel puin 1% din PIB-ul mondial.

    Aceast idee a susinut-o economistul american Jim

    ONeill, care a creat acronimul BRIC n anul 2001,

    care reflecta cele patru state: Brazilia, Rusia, India

    i China. Jim ONeill argumenta alegerea acestor

    ri emergente prin faptul c acest grup de ri au

    potenialul de a ajunge economii dezvoltate n

    primul rnd deoarece au mrimea necesar. [1]

    Companiile multinaionale au contientizat c nu

    mai pot obine profituri mari din rile dezvoltate i

    adopt strategii de extindere ctre arile emergente.

    Acestea doresc s obin avantaje competitive pe

    pieele de acces i au potenial de cretere imens se

    concentreaz la oportunitile de investiii n afara

    centrelor de investiii tradiionale, n economiile

    emergente. Brazilia, Rusia, China i India au fost

    subiectul multor cercetri i a unor lucrri de

    specialitate. Multi dintre ei au ajuns la concluzia

    ca, cresterea acestor economii si trecerea la

    categoria economiilor dezvoltate este inevitabila,

    intrarile de ISD avand un rol important. [1], [2]

    Investiiile strine directe sunt n general

    1 INTRODUCTION

    Because of the multiple benefits they have on the

    receiving economy, FDI causes a true global

    competition. In the current economic climate, the

    investors are expressing a growing interest for the

    emerging economies in search of higher incomes

    that in the developed economies. An emerging

    country is that country whose economy is at least

    1% of global GDP. This idea was supported by an

    american economist, Jim O'Neill, who created the

    BRIC acronym in 2001, reflecting the four

    countries: Brazil, Russia, India and China. Jim

    O'Neill argued the choice of these emerging

    countries because this group of countries has the

    potential to become developed economies firstly

    because they have the required size. [1]

    The multinational companies have realized thath

    they cant get high profits from developed

    countries eminore and adopted strategies to expand

    in the emerging countries. They want to gain

    competitive advantages from these market accesses

    and have a huge growth potential focuses on

    investment opportunities outside the traditional

    investment centers, in the emerging economies.

    Brazil, Russia, China and India have been the

    subject of many literature and research. Many of

    them concluded that the growth of these economies

    and theyr transition to developed economies

    category is inevitable, FDI inflows having an

    important role. [1], [2]

    Foreign direct investments are generally

  • STUDIA UNIVERSITATIS PETRU MAIOR, SERIES OECONOMICA, FASCICULUS 1, anul V, 2011, ISSN 1843-1127

    73

    considerate a avea contribuii majore la

    dezvoltarea economic a economiilor

    emergente. Impactul pozitiv al ISD asupra

    creterii economice a fost confirmat printr-un

    numr mare de studii. [3], [4]

    2. EVOLUIA ISD IN ECONOMIILE

    BRIC

    Economiile Braziliei, Rusiei, Indiei i Chinei,

    (BRIC) , foarte probabil vor deveni cel mai mare

    grup economic, pana la jumatatea secolului.

    Economiile BRIC, vor depai economiile Japoniei

    i SUA cumulate.[2] Jim O Neill, a considerat ca

    aceste economii i-au schimbat sistemul politic

    pentru a mbria capitalismul global. Evoluia

    fluxurilor investiiilor strine directe este strns

    corelat cu fenomenul de globalizare. nainte de

    apariia crizei finaniare din anul 2008, muli

    cercettori estimau c pn n anul 2050,

    economiile Braziliei, Rusiei, Indiei i Chinei vor

    ajunge n primele zece economii ale lumii. Astzi,

    n contextul crizei financiare, se pare ca acest lucru

    se va ntmpla mai reppede dect a fost estimat.

    considered to have major contributions the

    economic development of emerging economy.

    The positive impact of FDI on economic

    growth was confirmed by a number of studies.

    [3], [4]

    2. THE EVOLUTION OF FDI IN

    ECONOMIES BRIC

    The economies of Brazil, Russia, India and China

    (BRIC), will likely become the largest economic

    group, by the mid-century. BRIC economies will

    surpass the Japanese and the U.S. economies

    combined. [2]

    Jim O 'Neill, found that these economies have

    changed the political system to embrace the global

    capitalism. The evolution of FDI flows is closely

    related to the globalization phenomenon.

    Before the financial crisis from 2008, many

    researchers estimated that by 2050, the economies

    of Brazil, Russia, India and China will reach the

    top ten bigest world economies. Today, with the

    financial crisis, it seems that this will happen even

    earlier than was estimated.

    Tabel 1: Intrarile de ISD in economiile BRIC in perioada 2001- 2010 (milioane dolari)/ Table 1: FDI inflows

    in BRIC economy betwen 2001- 2010(million dollars)

    Tara/ Country BRAZILIA RUSIA INDIA CHINA

    An/ Year

    2001 22,457 2,748 5472 44,241

    2002 16,590 3,461 5,626 49,308

    2003 10,144 7,958 4,323 47,077

    2004 18,166 15,444 5,771 54,936

    2005 15,066 12,886 7,606 79,127

  • Paula NISTOR

    74

    2006 18,782 29,701 20,336 78,095

    2007 34,585 55,073 25,127 138,413

    2008 45,058 75,002 41,315 147,791

    2009 25,949 36,751 34,577 78,193

    2010 48,434 41,194 24,640 105,735

    Surs: unctadstat (http://unctadstat.unctad.org/UnctadStatMetadata/Documentation/UNCTADstatContent.html. /

    Source: unctadstat (http://unctadstat.unctad.org/UnctadStatMetadata/Documentation/UNCTADstatContent.html.

    Figura 1: Intrarile de ISD in economiile BRIC in perioada 2001- 2010/ Figure 1 - FDI inflows in BRIC

    economy betwen 2001- 2010 (million dollars)

    Surs: unctadstat (http://unctadstat.unctad.org/UnctadStatMetadata/Documentation/UNCTADstatContent.html. /

    Source: unctadstat (http://unctadstat.unctad.org/UnctadStatMetadata/Documentation/UNCTADstatContent.html.

    Dup cum se poate observa n graficul prezentat

    mai sus, China conduce detasat din punct de vedere

    al intrrilor de ISD, fiind urmat de Rusia, Brazilia

    i India.

    Perioada 2007, 2008, a fost o perioad de crestere a

    intrrilor de ISD pentru toate cele patru economii.

    Scderea intrrilor de ISD n economiile BRIC, n

    anul 2009, se datoreaz n mare parte contextului

    As we can observe in the graph presented above,

    China lea