Perspectives of Creation of Global Value Chains among BRICS

The paper presents the main theoretical approaches to understanding global value chains and analyzes their role in the modern world economy. It is emphasized that due to the growing political and economic importance of global value chains, this phenomenon is now the focus of attention of many countries and international institutions – including the BRICS countries, which occupy an outstanding position in the world economy due to the size of their territories and intensive economic growth. To characterize the main international trends in global value chains and the specifics of BRICS countries ' participation in global value chains, the latest data obtained based on the international Trade in Value-Added (TiVA) methodology jointly developed by the OECD and the WTO are used. Following consideration of the current state of participation of the BRICS in global value, chains concludes that it is mainly involved in ascending links in the global value chains and that the current position of the BRICS in global value chains does not provide these countries with possible long-term benefits, is not consistent with the medium – and long-term socio-economic and scientific-technological development. Factors that prevent and facilitate the participation of BRICS countries in global value chains are evaluated.