ODI Working Papers Issue 365 by Milo Vandemoortele, Kate Bird, Andries Du Toit, Minquan Liu, Kunal Sen and Fábio Veras Soares
Five key emerging market economies, commonly termed the BRICS (Brazil, Russia, India, China and South Africa), have been lauded for their stellar economic growth and resilience through the 2008/09 financial crisis.
They are becoming models of development for development practitioners, researchers and other emerging economies. Scratch beneath the surface, however, and you will notice that not all people in these countries have benefited equally from growth. Some countries have seen enormous increases in income inequality – specifically China, India and South Africa; Brazil has enjoyed a reduction.
What can be learnt, in terms of the challenges and successes of reconciling growth and equity, from the BRICS’ recent growth? This paper examines the experiences of four of the BRICS – Brazil, China, India and South Africa – and identifies four key factors shaping the countries’ pattern of growth:
The GEGAfrica project has been funded by UK aid from the UK government; however the views expressed do not necessarily reflect the UK government’s official policies.