ARE THE BRICS STILL A MIRACLE?
Journal Title: MANAGERIAL CHALLENGES OF THE CONTEMPORARY SOCIETY - Year 2017, Vol 1, Issue 10
Abstract
When the subject of ‘emerging economies’ is approached, most of us are thinking about the BRICS countries. These five economies (Brazil, Russian Federation, India, China and South Africa) were, up until recently, considered to be the “revelation” of our times. The reason for this could be found in their economic opportunities. Nevertheless, currently, there are some voices saying there is no miracle in their recent evolution. In this paper we intend to analyze some economic aspects, by comparison, in order to provide some answers whether we can still talk about a miracle in their development or not. In order to achieve this purpose, we analyze the main economic indicators of BRICS countries over the past ten years. The results support the conclusion that although the growth rates of the previous decades are not expected to be seen in the future, and the BRICS do not attract as much attention and debate in the literature, we believe that the BRICS have not lost their relevance and they still have a significant influence on global economy.
Authors and Affiliations
Mihaela Rovinaru, Flavius Rovinaru, Larisa Nicoleta Pop
Keywords
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