The financial crisis: impact on BRIC and policy response

Ritwik Banerjee and Pankaj Vashisht

MPRA Paper from University Library of Munich, Germany

Abstract: The paper looks at the transmission channels by which the financial crisis affected the four emerging economies- Brazil, Russia, India and China, the degree and extent of the impact of the crisis, the subsequent policy interventions which enabled recovery and an assessment of how successful recovery has been in these economies. We conclude by noting that in the long term global recovery will necessitate a rebalancing of the world economy which in turn means that the hub of global consumption has to shift from the west to the global south, particularly to BRICs.

Keywords: BRIC; Financial Crisis; Policy Response (search for similar items in EconPapers)
JEL-codes: E60 E63 F42 (search for similar items in EconPapers)
Date: 2010-06-05
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Citations: View citations in EconPapers (6)

Published in Revista Tempo Do Mundo 2.2(2010): pp. 57-80

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:38812

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