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The financial crisis: impact on BRIC and policy response


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  • Banerjee, Ritwik
  • Vashisht, Pankaj
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    The paper looks at the transmission channels by which the financial crisis affected the four emerging economies- Brazil, Russia, India and China, the degree and extent of the impact of the crisis, the subsequent policy interventions which enabled recovery and an assessment of how successful recovery has been in these economies. We conclude by noting that in the long term global recovery will necessitate a rebalancing of the world economy which in turn means that the hub of global consumption has to shift from the west to the global south, particularly to BRICs.

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    Bibliographic Info

    Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 38812.

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    Date of creation: 05 Jun 2010
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    Publication status: Published in Revista Tempo Do Mundo 2.2(2010): pp. 57-80
    Handle: RePEc:pra:mprapa:38812

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    Keywords: BRIC; Financial Crisis; Policy Response;

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