The financial crisis : impact on BRIC and policy response
By: BANERJEE, Ritwik
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Contributor(s): VASHISTH, Pankaj.
Material type: 
ArticlePublisher: Brasília : IPEA, aug. 2010Online resources: Acesso The Perspective of the World Review 2, 2, p. 55-77Abstract: The paper looks at the transmission channels by which the financial crisis affected the four Abstract: emerging economies- Brazil, Russia, India and China, the degree and extent of the impact of the Abstract: crisis, the subsequent policy interventions which enabled recovery and an assessment of how Abstract: successful recovery has been in these economies. We conclude by noting that in the long term Abstract: global recovery will necessitate a rebalancing of the world economy which in turn means that the Abstract: hub of global consumption has to shift from the west to the global south, particularly to BRICs
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
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