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31. Brazil's Rise as an Emerging Power: Implications for the U.S. and Europe

Author:
Stefan A. Schirm
Publication Date:
06-2009
Content Type:
Working Paper
Institution:
Center for Transatlantic Relations
Abstract:
The last 20 years have witnessed the economic emergence of several countries, which are considered today to be “pivotal states”, “regional powers”, and “emerging powers” in world politics. These emerging powers encompass countries such as China, India, Brazil and Russia, (the BRICs), which have in common both that they have experienced rapid economic growth and that they seek to influence the global economy and world politics to a greater degree than they did before their rise. The BRICs have become leading exporters and lenders (especially China to the US) as well as holders of currency reserves, and they (plus Mexico) are expected to surpass the GNP of the G7 industrialized countries by the year 2040. The reasons for the assignment of a new role, and often of increased power, to these states are their demographic and geographic size, their economic and military capacities, and their political aspirations.
Topic:
Economics, Emerging Markets, and Globalization
Political Geography:
Russia, United States, China, Europe, India, Brazil, and Latin America

32. Roaring tiger or lumbering elephant?

Author:
Mark P Thirlwell
Publication Date:
09-2006
Content Type:
Working Paper
Institution:
Lowy Institute for International Policy
Abstract:
In the past, there has been plenty of scepticism about India's economic prospects: for many, Charles De Gaulle's aphorism regarding Brazil, that it was a country with enormous potential, and always would be, seemed to apply equally well to the South Asian economy. While the 'tiger' economies of East Asia were enjoying economic take-off on the back of investment- and export-led growth, the lumbering Indian elephant seemed set to be a perpetual also-ran in the growth stakes. Yet following a series of reform efforts, first tentatively in the 1980s, and then with much more conviction in the 1990s, the Indian economic model has been transformed, and so too India's growth prospects. High profile successes in the new economy sectors of information technology (IT) and business process outsourcing (BPO), along with faster economic growth, triggered a widespread rethink regarding India's economic prospects, and a wave of foreign portfolio investment flowed into Indian markets. Perhaps India was set to be a tiger after all.
Topic:
Economics, Emerging Markets, and International Trade and Finance
Political Geography:
South Asia, India, East Asia, Asia, and Brazil

33. India: the Next Economic Giant

Author:
Mark P Thirlwell
Publication Date:
08-2004
Content Type:
Working Paper
Institution:
Lowy Institute for International Policy
Abstract:
The Indian economy is showing clear signs of realising its dormant potential. The impact of more than a decade of economic reforms, instigated by a 1991 balance of payments crisis, has now removed or at least mitigated some of the major economic distortions that have handicapped past economic performance. One important result has been a significant boost to the economy's overall potential growth rate. Another has been India's re-engagement with the global economy, which in turn has transformed the prospects of key sectors of the Indian economy. This transformation has been most visible in the case of information technology-related services exports, where India has already become an important global player. But there are also positive signs in the areas of merchandise trade and international capital flows. These trends will have important consequences for the international economy as a whole and for Australia in particular.
Topic:
Economics, Emerging Markets, and Globalization
Political Geography:
India, East Asia, Asia, and Australia

34. Convergence Club Empirics: Some Dynamics and Explanations of Unequal Growth of Unequal Growth across Indian States

Author:
Sanghamitra Bandyopadhyay
Publication Date:
11-2003
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
This paper documents the convergence of incomes across Indian states over the period 1965 to 1998. It departs from traditional analyses of convergence by tracking the evolution of the entire income distribution, instead of standard regression and time series analyses. The findings reveal twin-peaks dynamics-the existence of two income convergence clubs, one at 50 per cent, another at 125 per cent of the national average income. Income disparities across states seem to have declined over the 1960s, only to increase over the subsequent three decades. The observed polarization is strongly explained by the disparate distribution of infrastructure, and that of education, and to an extent by a number of macroeconomic indicators; that of capital expenditure and fiscal deficits.
Topic:
Economics and Emerging Markets
Political Geography:
South Asia and India

35. Creating an Environment: Developing Venture Capital in India

Author:
Rafiq Dossani and Martin Kenney
Publication Date:
05-2001
Content Type:
Working Paper
Institution:
Walter H. Shorenstein Asia-Pacific Research Center
Abstract:
In the last decade, one of the most admired institutions among industrialists and economic policymakers around the world has been the U.S. venture capital industry. A recent OECD (2000) report identified venture capital as a critical component for the success of entrepreneurial high-technology firms and recommended that all nations consider strategies for encouraging the availability of venture capital. With such admiration and encouragement from prestigious international organizations has come various attempts to create an indigenous venture capital industry. This article examines the efforts to create a venture capital industry in India.
Topic:
Economics, Emerging Markets, and Industrial Policy
Political Geography:
United States, South Asia, and India