Status of the 'BRICs': An Analysis of Growth Factors

Bell, H. A. (2011). Status of the 'BRICs': An Analysis of Growth Factors. International Research Journal of Finance and Economics, (69), 19-25

7 Pages Posted: 17 Oct 2013

See all articles by Holly Bell

Holly Bell

University of Alaska Anchorage, Matanuska-Susitna College

Date Written: 2011

Abstract

In 2001, Goldman Sachs coined the term BRICs (Wilson, Kelston, & Ahmed, 2010) to describe the four large developing countries of Brazil, Russia, India, and China that Goldman Sachs predict will overtake the G6 (US, Japan, UK, Germany, France, and Italy) in terms of GDP (in US$) by 2050 (Wilson & Purushothaman, 2003). The report established a set of four core factors that would create the conditions the BRIC countries would need for the predicted growth.

This paper explores recent reports on those factors and others to compare the BRIC and G6 countries in terms of readiness for (or sustainability of) growth. An analysis of what these factors might indicate, potential difficulties with economic development in the BRIC countries, and the role of the Goldman Sachs report are also considered.

Keywords: BRICs, Comparative Economics, Economic Performance, Goldman Sachs, Economic Freedom, Global Competitiveness

JEL Classification: F3, F4

Suggested Citation

Bell, Holly, Status of the 'BRICs': An Analysis of Growth Factors (2011). Bell, H. A. (2011). Status of the 'BRICs': An Analysis of Growth Factors. International Research Journal of Finance and Economics, (69), 19-25, Available at SSRN: https://ssrn.com/abstract=2340210

Holly Bell (Contact Author)

University of Alaska Anchorage, Matanuska-Susitna College ( email )

AK
United States

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