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The material and symbolic construction of the BRICs: Reflections inspired by the RIPE Special Issue

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  • Marion Fourcade

Abstract

In this short piece, I return to the articles in this special issue to examine the relationship between the material reality of the concept of BRICs and its symbolic place in the world economy today. Aside from the facts that the BRIC countries have been ready to depart from the Washington consensus on certain key elements (state intervention), while maintaining other aspects (fiscal discipline), there isn't much support for the notion that these countries somehow share specific development strategies. If anything, the papers in this special issue show that these four countries have rather different etiologies of growth. The notion of BRICs, I argue, is thus better apprehended through its symbolic and political dimensions, as an effort by well-placed actors in the financial markets to drum up excitement about investment opportunities, as well as reorient the governance structures of the world economy away from the traditional stronghold of Europe.

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  • Marion Fourcade, 2013. "The material and symbolic construction of the BRICs: Reflections inspired by the RIPE Special Issue," Review of International Political Economy, Taylor & Francis Journals, vol. 20(2), pages 256-267, April.
    • Handle: RePEc:taf:rripxx:v:20:y:2013:i:2:p:256-267
    DOI: 10.1080/09692290.2013.779408
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    1. Leon Wansleben, 2013. "Dreaming with BRICs," Journal of Cultural Economy, Taylor & Francis Journals, vol. 6(4), pages 453-471, November.
    2. Olivier J. Blanchard & Daniel Leigh, 2013. "Growth Forecast Errors and Fiscal Multipliers," American Economic Review, American Economic Association, vol. 103(3), pages 117-120, May.
    3. Cornel Ban, 2013. "Brazil's liberal neo-developmentalism: New paradigm or edited orthodoxy?," Review of International Political Economy, Taylor & Francis Journals, vol. 20(2), pages 298-331, April.
    4. Gore, Charles, 2000. "The Rise and Fall of the Washington Consensus as a Paradigm for Developing Countries," World Development, Elsevier, vol. 28(5), pages 789-804, May.
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    Cited by:

    1. Raquel A Ramos, 2017. "The Fragility of Emerging Currencies Since the 2000s: a Minskyan Analysis," CEPN Working Papers hal-01619118, HAL.
    2. Acquaye, Adolf & Ibn-Mohammed, Taofeeq & Genovese, Andrea & Afrifa, Godfred A & Yamoah, Fred A & Oppon, Eunice, 2018. "A quantitative model for environmentally sustainable supply chain performance measurement," European Journal of Operational Research, Elsevier, vol. 269(1), pages 188-205.
    3. Raquel A Ramos, 2017. "The Fragility of Emerging Currencies Since the 2000s: a Minskyan Analysis," Working Papers hal-01619118, HAL.

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