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

Rajeev Goel and Ikka Koehonen
Additional contact information
Ikka Koehonen: Bank of Finland, Postal: P.O.Box 160, FIN-00101 HELSINKI, http://www.bof.fi/bofit/
Authors registered in the RePEc Author Service: Iikka Korhonen

Economia Internazionale / International Economics, 2012, vol. 65, issue 3, 447-471

Abstract: 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.

Keywords: Economic Growth; BRIC Countries; Exports; Institutions; Corruption; World (search for similar items in EconPapers)
JEL-codes: O40 O57 P52 (search for similar items in EconPapers)
Date: 2012
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Related works:
Working Paper: Determinants of economic growth in BRIC countries (2011)
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