Research On The Impact Of Trade Facilitation On The Bilateral Trade Flows Of BRICS Countries

The world situation is facing unprecedented changes in a century,and the international environment is in a severe and complex state.In the context of weakening kinetic energy and slowing growth in the world economy,the BRICS countries can still maintain vitality and continue to grow their economies.The proportion of the total economic volume in the world's total economic volume continues to increase,and the international impact of their trade development is self-evident.As a result,more countries will turn their attention to the BRICS countries and hope that the BRICS countries will create more opportunities and inject more vitality into the international community.However,while maintaining a high economic growth rate,the BRICS countries still have problems in some areas of trade facilitation,such as low customs clearance efficiency,unstable trade environment,unsmooth traffic,and incomplete institutional environment.Compared with developed countries,there is still a large gap.These conditions have put forward higher requirements for the optimization of the terms of trade of the BRICS countries.At what level is the current trade facilitation of the BRICS countries? Does it have a huge impact on the bilateral trade flows of the BRICS countries? How much can the promotion of trade facilitation promote the trade potential of the BRICS countries? This article takes the BRICS countries as the research object,analyzes the current situation and existing problems of the BRICS countries from various dimensions,and selects four indicators of port efficiency,customs management,institutional environment,financial services and e-commerce to Measure the level of trade facilitation of BRICS countries from 2010 to 2017,combined with the control variables of GDP,population,and bilateral distance between the two BRICS countries,the extended gravity model is used to explore the impact of the trade facilitation index on bilateral trade flows,and calculate the trade The enhancement of facilitation will stimulate the trade potential of BRICS countries.The results show that:(1)Comparedwith other control variables,the level of trade facilitation of importing countries has the greatest impact on bilateral trade flows.For each increase of 1%,bilateral trade flows will increase significantly by 1.7120%.At the same time,bilateral trade flows are positively related to the gross domestic product,total population,and the two countries' neighbors or across the sea,but negatively related to the distance between the two trading parties.(2)The created gravity model has good robustness.Among the first-level indicators,customs management has the greatest impact on bilateral trade flows,and the impact of the remaining indicators in descending order is financial services and e-commerce,institutional environment,and port efficiency.(3)The improvement of the level of trade facilitation of the BRICS countries can significantly release the trading potential between the BRICS countries and increase the bilateral trade flows between the BRICS countries.Based on the above research on the trade facilitation of BRICS countries,this article puts forward specific policy suggestions for BRICS countries to promote the continuous improvement of customs management and attach importance to the development of financial services and e-commerce.