Perspective on Economic Growth of BRIC Countries: A Case of Brazil and India
13 Pages Posted: 25 Feb 2009
Date Written: February, 13 2009
Global economy is under uncertainty due to recent meltdown of economic and industrial growth. Though process of globalisation has boosted economic growth resulting in the structural changes of the world economy. This has triggered rapid changes in developing economies and may predominantly contribute to global economic growth in the coming decade, though it has posed several challenges in countries such as Brazil, Russia, India and China. In spite of studies show that there may be a major shift in the global economic balance and it is argued that BRIC countries may emerge as a global economy in future. As a result, the current slowdown in the economy is a major concern of all countries. This phenomenon necessitates a broad analysis. Therefore, the purpose of this paper is to analysis various economic indicators such as GDP, GDP growth by sectors, import and export and FDI inflows of Brazilian and Indian economy using forecasting techniques. Based on analytical results future trends and potential of both the economies are discussed. Results demonstrate that both countries have a budding economic growth.
Keywords: BRIC, FDP, GDP, Industrial Growth, Growth model, India, Brazil
JEL Classification: C01
Suggested Citation: Suggested Citation