Models of BRICs' Economic Development and Challenges for EU Competitiveness
AbstractThe term BRICs puts under a common label the four largest fast growing emerging countries Brazil, Russia, India and China. The BRICs show many common features, such as big land size, large population, fast economic growth etc., but important differences as well, due to their different models of economic development and resources endowments. In this report, we discuss the different models of economic development of the individual BRIC countries, with a special focus on their external relations (trade, FDI) and on likely future developments. Brazil is a domestically oriented service economy; Russia's economic development is heavily dependent on energy and raw material resources; the Indian economy is essentially service-led, supported by exports; and China's economic development is driven by manufacturing exports and investment. Finally, we explore the resulting future challenges and opportunities for EU competitiveness.
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Bibliographic InfoPaper provided by The Vienna Institute for International Economic Studies, wiiw in its series wiiw Research Reports with number 359.
Length: 73 pages including 5 Tables, 9 Figures and 1 Box
Date of creation: Dec 2009
Date of revision:
Publication status: Published as wiiw Research Report
Find related papers by JEL classification:
- G01 - Financial Economics - - General - - - Financial Crises
- O21 - Economic Development, Technological Change, and Growth - - Development Planning and Policy - - - Planning Models; Planning Policy
- O53 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East
- O54 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Latin America; Caribbean
- O57 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-01-16 (All new papers)
- NEP-CIS-2010-01-16 (Confederation of Independent States)
- NEP-CSE-2010-01-16 (Economics of Strategic Management)
- NEP-TRA-2010-01-16 (Transition Economics)
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- Mihai Dragu, 2011. "Is It Possible For Europe To Get Help From Brics Countries?," Annals of University of Craiova - Economic Sciences Series, University of Craiova, Faculty of Economics and Business Administration, vol. 1(39), pages 206-210.
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