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Economic growth in BRIC countries and comparisons with rest of the world - Crescita economica nei paesi BRIC e confronti con il resto del mondo

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We study economic growth in four emerging economies – Brazil, Russia, India, and China (BRIC). Questions addressed are: (a) How do mediumterm growth determinants differ from short term determinants? (b) What are differences between growth effects of aggregate versus disaggregated exports? (c) Does lower institutional quality hinder growth? and (d) Do similar factors promote growth across low growth and high growth countries? Results show that while BRIC nations have higher growth, there are significant withingroup differences. China and Russia mostly showed higher growth, while India sometimes showed positive growth, and Brazil did not outperform the rest. A nonparametric analysis with a broader set of high-growth nations provides some novel insights. Policy implications are discussed. - In questo lavoro si studiano quattro economie emergenti: Brasile, Russia, India e Cina (BRIC). I problemi affrontati sono: (a) le determinanti della crescita nel medio periodo sono diverse da quelle della crescita nel breve periodo?; (b) quali differenze ci sono fra gli effetti della crescita delle esportazioni aggregate e delle esportazioni disaggregate?; (c) una qualità istituzionale scadente può rallentare la crescita?; (d) la crescita è stimolata da fattori simili sia nei paesi a crescita lenta che in quelli a crescita elevata? I risultati mostrano che, sebbene i paesi dell’area BRIC presentino tutti tassi di crescita elevata, vi sono differenze significative all’interno dell’area stessa. Alcuni risultati nuovi sono forniti dall’analisi non-parametrica su un più ampio set di paesi ad alta crescita economica. Inoltre vengono discusse le relative implicazioni politiche.

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  • Goel, Rajeev K. & Koehonen, Ikka, 2012. "Economic growth in BRIC countries and comparisons with rest of the world - Crescita economica nei paesi BRIC e confronti con il resto del mondo," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 65(3), pages 447-471.
  • Handle: RePEc:ris:ecoint:0662
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    1. Halvor Mehlum & Karl Moene & Ragnar Torvik, 2006. "Institutions and the Resource Curse," Economic Journal, Royal Economic Society, vol. 116(508), pages 1-20, January.
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    Cited by:

    1. Simplice Asongu, 2015. "Determinants of Growth in Fast Developing Countries: Evidence from Bundling and Unbundling Institutions," Working Papers of the African Governance and Development Institute. 15/010, African Governance and Development Institute..
    2. ASONGU, Simplice & ODHIAMBO, Nicholas, 2018. "Drivers Of Growth In Fast Emerging Economies: A Dynamic Instrumental Quantile Approach To Real Output And Its Rates Of Growth In Brics And Mint Countries, 2001-2011," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 18(1), pages 5-22.
    3. Asongu, Simplice, 2015. "Drivers of Growth in Fast Emerging Economies: A Dynamic Instrumental Quantile Approach," MPRA Paper 67309, University Library of Munich, Germany.
    4. Herrala, Risto & Goel, Rajeev K., 2012. "Global CO2 efficiency: Country-wise estimates using a stochastic cost frontier," Energy Policy, Elsevier, vol. 45(C), pages 762-770.

    More about this item

    Keywords

    Economic Growth; BRIC Countries; Exports; Institutions; Corruption; World;

    JEL classification:

    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries
    • P52 - Economic Systems - - Comparative Economic Systems - - - Comparative Studies of Particular Economies

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