Economic Resilience in BRICS Countries During Pandemic

Abstract

We live in a constantly changing world, but in the last 2-3 years, our society has faced an unforeseen crisis caused by the covid-19 pandemic. Under these conditions, such a concept as the resilience of the economic system, which determines the quality of the functioning of the economy in a period of adverse impacts, is very important. The concept of resilience itself is relatively new, rather poorly studied. In domestic science, there is no single definition, no standard research methods, there is not even a complete understanding of what factors still make up sustainability, so work in this area is still relevant. In this paper, we will consider the BRICS group of countries, since in the modern world the growth of economies with emerging markets plays an important role, which affects all spheres of the global community. Among others, a special role belongs to the BRICS (Brazil, Russia, India, China, South Africa), which are characterized by continuous development, even in recessionary conditions. We will try to determine what factors influenced the resilience of these countries during the pandemic and give possible recommendations to increase the resilience of the BRICS economies.