1. The BRICSAM Countries and Changing World Economic Power: Scenarios to 2050
- Author:
- Manmohan Agarwal
- Publication Date:
- 10-2008
- Content Type:
- Working Paper
- Institution:
- Centre for International Governance Innovation
- Abstract:
- Rapid economic growth in the large developing countries collectively known as BRICSAM (Brazil, Russia, India, China, South Africa and Mexico) has the potential to change the balance of economic power in the world. This paper analyzes this potential building on developments in these economies over the past four decades in the context of the evolution of the world economy. This evolution has two significant features: increasing economic integration and a hiatus in growth. Increasing integration can be observed in the almost universal rise in the share of the exports of goods and services in GDP, and the increase in private capital flows. There has been a hiatus in growth since the 1973-1974 increase in the price of oil.
- Topic:
- Economics, Globalization, International Political Economy, and International Affairs
- Political Geography:
- Russia, China, India, South Africa, Brazil, and Mexico