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Low-Income Countries' BRIC Linkage :, Are there Growth Spillovers?, Issouf Samaké, Yongzheng Yang

Trade and financial ties between low-income countries (LICs) and Brazil, Russia, India, and China (BRICs) have expanded rapidly in recent years. This gives rise to the potential for growth to spill over from the latter to the former. We employ a global vector autoregression (GVAR) model to investigate the extent of business cycle transmission from BRICs to LICs through both direct (FDI, trade, productivity, exchange rates) and indirect (global commodity prices, demand, and interest rates) channels. The estimation results show that there are significant direct spillovers while indirect spillovers also matters in many cases. Based on these results, we show that growing LIC-BRIC ties have significantly helped alleviate the adverse impact of the recent global financial crisis on LIC economies
Table Of Contents
Cover Page; Title Page; Copyright Page; Contents; I. Introduction; II. BRICs in the World Economy and LIC-BRIC Linkages; 1. LICs and BRIC Linkages: 2000-07 Average; 2. Share of Trade with BRIC to Total Trade of LICs by Region, 2000-08; 3. Share of Trade with BRIC to Total Trade of LICs by Type of Exporters, 2000-08; III. The GVAR Model and Estimation Strategy; 4. Assessing the Direct and Indirect Impact of Shocks from BRIC to LICs; 1. BRICs in the Global Economy, 1991-2015; 2. BRIC Shocks to LICs: Direct Impacts; IV. Empirical Results
Literary Form
non fiction
Description based upon print version of record
Physical Description
1 online resource (55 p.)
Specific Material Designation
Form Of Item

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