BANERJEE, Ritwik <br/><br/>
The financial crisis :  impact on BRIC and policy response 

 - Brasília :  IPEA,  aug. 2010 
<br/><br/> 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