Economic Cooperation of Development Institutions as a Tool to Address the Impacts of Global Recessions

Abstract

In this study, the BRICS development institutions and the integration association itself are analyzed. The main objectives of the BRICS activities, trends in cooperation and the most strategic spheres of influence are identified. In addition, a statistical analysis of the influence of the BRICS eff orts on the key macroeconomic indicators of the member countries is carried out, indicating their impact on global economic and financial indicators. The study also considers technology transfer centers and practices of their implementation and operation in various countries (using the example of countries in the G7 and BRICS countries), and as a recommendation, it is proposed to use the international experience of these centers and to continue their in-depth implementation in Russia. Finally, a conclusion on the importance of development institutions as a whole within the state and in cross-country cooperation is made.