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BRICS’ Current Economic Situation: an Adaptive Phase

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  • Iulia Monica Oehler-Sincai

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Abstract

The main objective of the present paper is to evaluate the determinants of the actual economic situation in the BRICS countries and the major drivers of their economic growth in the long run. On account of the global uncertainties and since the economies worldwide are unlikely to come back to growth rates similar to those preceding the crisis, the BRICS countries have to adapt at these new realities. In spite of many differences as regards their assets, these economies have multiple common characteristics. Besides, some recent initiatives, such as setting up the Asian Infrastructure Investment Bank (AIIB) and the BRICS Bank and reactivation of the Silk Road, attest the determination of these countries to reshape the global economic architecture according to their own needs.

Suggested Citation

  • Iulia Monica Oehler-Sincai, 2015. "BRICS’ Current Economic Situation: an Adaptive Phase," Knowledge Horizons - Economics, Faculty of Finance, Banking and Accountancy Bucharest,"Dimitrie Cantemir" Christian University Bucharest, vol. 7(2), pages 41-45, June.
  • Handle: RePEc:khe:journl:v:7:y:2015:i:2:p:41-45
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    File URL: http://orizonturi.ucdc.ro/arhiva/khe7nr2/Sincai.pdf
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    File URL: http://orizonturi.ucdc.ro/arhiva/khe7nr2/Sincai.pdf
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    References listed on IDEAS

    as
    1. Thomas I. Palley, 2005. "External Contradictions of the Chinese Development Model: Export-led Growth and the Dangers of Global Economic Contraction," Working Papers wp101, Political Economy Research Institute, University of Massachusetts at Amherst.
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    More about this item

    Keywords

    BRICS; economic growth; crisis; slowdown; recession;

    JEL classification:

    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • E23 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Production
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • F24 - International Economics - - International Factor Movements and International Business - - - Remittances
    • F44 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Business Cycles

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