Competitiveness Analysis of BRICS Countries for the Period 2010-2021

This bachelor's thesis analyzes the development of competitiveness of BRICS countries between 2010 and 2021. The aim of the thesis is to analyze the development of competitiveness of the selected countries using selected economic indicators and their development, and for greater explanatory value their competitiveness is assessed in contrast to the evaluation of selected institutions dealing with this topic. Theoretical part defines meaning of competitiveness at the firm and national level, for which it then distinguishes different perspectives on it, namely external, aggregate and multi-criteria, for which it further introduces institutions that evaluate competitiveness, including the introduction of methods used to evaluate competitiveness. Then, the theoretical part of this thesis concludes with selected economic indicators and ways of their assessment with respect to the competitiveness of countries. In the practical part, the method of time series analysis of many economic indicators is used, with emphasis on labor productivity and its positive evolution over time, which has proved to be a crucial indicator having a positive impact on wealth growth, which is also the main objective (and measure) of national competitiveness. Furthermore, the empirical part of the paper compares the competitiveness assessment of the selected countries according to the selected institutions, within which, over the period under study, the countries of South Africa, Brazil and India have relatively worsened, while the economy of Russia has relatively improved. China has held its relative position consistently. Finally, the economic policy recommendations of each country are presented to improve their competitiveness.