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The growing weight of the emerging economies in the world economy and governance. The case of the BRICs

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Author Info

  • Luis Orgaz

    ()
    (Banco de España)

  • Luis Molina

    ()
    (Banco de España)

  • Carmen Carrasco

    ()
    (Banco de España)

Abstract

This paper examines the growing relevance of emerging and developing economies for the global economy, paying special attention to the BRIC (Brazil, Russia, India and China). The paper also reviews the participation of these countries in some key multilateral institutions for global governance, and compares it to its actual economic weight. An enhanced role in the decision making process of these multilateral institutions is indeed one of the primary objectives of the BRIC group. Finally we elaborate on some other global questions in which these countries also have common interests -like international reserves accumulation, international trade and climate change negotiations- and in which their increased participation has to go hand in hand with a greater consideration of collective interests.

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File URL: http://www.bde.es/f/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosOcasionales/11/Fich/do1101.pdf
File Function: First Spanish version, March 2011
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Bibliographic Info

Paper provided by Banco de Espa�a in its series Banco de Espa�a Occasional Papers with number 1101.

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Length: 51 pages
Date of creation: Mar 2011
Date of revision:
Handle: RePEc:bde:opaper:1101

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Keywords: emerging economies; BRIC; IMF; G20; global governance;

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