Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/204131
Authors: 
Ghosh, Jayati
Havlik, Peter
Poplawski-Ribeiro, Marcos
Urban, Waltraut
Year of Publication: 
2009
Series/Report no.: 
wiiw Research Report 359
Abstract: 
The 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.
Subjects: 
economic development
Brazil
Russia
India
China
the European Union
competitiveness
JEL: 
G01
O21
O53
O54
O57
Document Type: 
Research Report

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