BRICS’ Current Economic Situation: an Adaptive Phase

Iulia Oehler-Şincai

Knowledge Horizons - Economics, 2015, vol. 7, issue 2, 41-45

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.

Keywords: BRICS; economic growth; crisis; slowdown; recession (search for similar items in EconPapers)
JEL-codes: E21 E22 E23 E24 F21 F24 F44 (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:khe:journl:v:7:y:2015:i:2:p:41-45

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