Understanding de-dollarization among BRICS nations: Systematic review of the factors and fallout

Abstract

Objective: this research paper reviews the political and economic factors surrounding the phenomenon of de-dollarization among the BRICS nations. Theoretical approach: de-dollarization refers to the strategic shift away from the United States dollar as the dominant currency in international trade and financial transactions. BRICS is a power group similar to the group of seven that features the five most important emerging economies, consisting of Brazil, Russia, India, China, and South Africa. Method: we used a systematic literature review method employing keyword search in Web of Science. Results: the resulting filtered publications helped us to get a comprehensive picture of the main factors and implications of the dedollarization process in those countries. Conclusion: based on these findings, we introduce new perspectives grouped into challenges, implications, and future lines of research.