Liberalization and investment protectionism in BRICS countries

The attraction of FDI in BRICS countries (Brazil, Russia, India, China, South Africa) is one of the most important external factors of forming their innovative systems. The liberalization of foreign investments is connected not only with increase of their inflow to BRICS countries, but also with the attraction of modern innovative technologies. On the equal basis with the measures of FDI liberalization, the regulating measures of the investment protectionism are performed in BRICS countries. Now there is no commonly accepted determination of investment protectionism on the world stage. For this reason the subject chosen by the author for research is important and urgent. To disclose the essence of this concept the author reveals the main directions and consequences of the investment protectionism. The comparative analysis of methods and tools is carried out to demonstrate the process of deliberalization of foreign investments in the BRICS countries. The author develops the main directions of investment protectionism that allow to determine thoroughly the nature of this concept and its importance for the innovative development of the BRICS countries. The important place is allocated to the identification of the main measures of liberalization and investment protectionism in BRICS countries, influencing the innovative development of their economies. The analysis also reveals the main benefits of scaling up the liberalization of foreign investment which include the possibility of sharp increase in the quantitative investment, growth rates of economic development, modernization of production, opportunity of competitive production, etc.