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The Political Economy of the BRICS Countries


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       Published by

      World Scientific Publishing Co. Pte. Ltd.

      5 Toh Tuck Link, Singapore 596224

      USA office: 27 Warren Street, Suite 401-402, Hackensack, NJ 07601

      UK office: 57 Shelton Street, Covent Garden, London WC2H 9HE

       Library of Congress Cataloging-in-Publication Data

      Names: Abraham, Biju Paul, editor. | Ray, Partha, editor. | Kim, Soo Yeon, editor.

      Title: The political economy of the BRICS countries / editor-in-chief: Edward D Mansfield (University of Pennsylvania, USA) and Nita Rudra (Georgetown University, USA); edited by Biju Paul Abraham (Indian Institute of Management Calcutta, India), Partha Ray (Indian Institute of Management Calcutta, India), Soo Yeon Kim (National University of Singapore, Singapore) and Santiago López-Cariboni. (Universidad Católica del Uruguay, Uruguay).

      Description: New Jersey : World Scientific, [2019-] | Includes bibliographical references and index.

      Contents: v.1.BRICS: The quest for inclusive growth -- v.2. BRICS and the global economy -- v.3. Political economy of informality in BRIC countries.

      Identifiers: LCCN 2019011951| ISBN 9789811202179 (set : alk. paper) | ISBN 9789811202186 (v. 1: hc : alk. paper) | ISBN 9789811202193 (v. 2: hc : alk. paper) | ISBN 9789811202209 (v. 3: hc : alk. paper)

      Subjects: LCSH: Economic development--BRIC countries. | BRIC countries--Economic conditions. | BRIC countries--Economic policy. | BRIC countries--Social policy. | BRIC countries--Foreign relations.

      Classification: LCC HD82 .P5485 2019 | DDC 330.9172/4--dc23

      LC record available at https://lccn.loc.gov/2019011951

       British Library Cataloguing-in-Publication Data

      A catalogue record for this book is available from the British Library.

      Copyright © 2020 by World Scientific Publishing Co. Pte. Ltd.

      All rights reserved. This book, or parts thereof, may not be reproduced in any form or by any means, electronic or mechanical, including photocopying, recording or any information storage and retrieval system now known or to be invented, without written permission from the publisher.

      For photocopying of material in this volume, please pay a copying fee through the Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA01923, USA. In this case permission to photocopy is not required from the publisher.

      For any available supplementary material, please visit

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      Desk Editors: Dr. Sree Meenakshi Sajani/Jiang Yulin

      Typeset by Stallion Press

      Email: [email protected]

      Printed in Singapore

      Preface

      Over the last two decades the economies of Brazil, Russia, India, China, and South Africa (BRICS) have emerged as a major source of global economic growth. All these countries are part of the G-20 group and are increasingly seen as playing a significant role in global political and economic affairs. However, the growth pattern in these countries have not been always inclusive. There are two broad aspects of growth in the BRICS economies that are worth noting — their heterogeneity and their lack of inclusivity. The edited book, BRICS: The Quest for Inclusive Growth aims to expose the reader to the quest for inclusive growth in these countries. Specifically, the chapters in this volume discuss economic growth in the BRICS countries with a view to understanding whether the nature of their growth is such that it is broad-based and leads to equitable economic/social outcomes.

      The objective of the volume is not to look at each economy exhaustively across different dimensions of growth. The chapters analyze specific dimensions of growth in these five economies that constrain their ability to act effectively and cohesively in international affairs. The nine chapters in this volume address different aspects of economic growth in the five economies.

      We would like to thank Professor Edward Mansfield, Professor of Political Science at the University of Pennsylvania and Professor Nita Rudra, Professor of Government at Georgetown University, the Editors-in-Chief of the three-volume study of the The Political Economy of the BRICS Countries for inducting us into this effort and for including this volume in the three-volume study.

      Some of the papers in this volume were initially presented at an International Conference on The Political Economy of Emerging Market Countries: The Challenges of Developing More Humane Societies in December 2016/January 2017 jointly organized by Princeton University, Georgetown University, USA, and Indian Institute of Management Calcutta in Kolkata and Santiniketan in West Bengal, India. Hence the information base of most of the papers pertain till that period. We would like to thank Princeton University, Georgetown University and the Management Centre for Human Values at the Indian Institute of Management Calcutta for their funding support for the Conference.

       Biju Paul Abraham and Partha Ray

      Kolkata, March 2019

      About the Editors-in-Chief

      imageEdward D. Mansfield is the Hum Rosen Professor of Political Science and Director of the Christopher H. Browne Center for International Politics at the University of Pennsylvania. His research focuses on international security and international political economy. He is the author of Power, Trade, and War (Princeton University Press, 1994); Electing to Fight: Why Emerging Democracies Go to War (with Jack Snyder) (MIT Press, 2005); Votes, Vetoes, and the Political Economy of International Trade Agreements (with Helen V. Milner) (Princeton University Press, 2012); and The Political Economy of International Trade (World Scientific, 2015). He is also the editor of 14 books and journal special issues, and has published articles in the American Political Science Review, British Journal of Political Science, Comparative Political Studies, International Organization, International Security, International Studies Quarterly, Journal of Conflict Resolution, World Politics, and various other journals and books. The recipient of the 2000 Karl W. Deutsch Award in International Relations and Peace Research, Mansfield has been a National Fellow at the Hoover Institution and his research has been supported by grants from the Harry Frank Guggenheim Foundation, the Mershon Center, and the United States Institute of Peace. He is the co-editor of the University of Michigan Press Series on International Political Economy and was the Vice President of the International Studies Association. He has been a Term Member of the Council on Foreign Relations, a member of the Graduate Record Examination Political Science Committee, Associate Editor of International Organization, and Program Co-Chair for the 2001 annual meeting of the American Political Science Association. Mansfield received his BA, MA, and PhD from the University of Pennsylvania; and before joining the faculty there, he taught at Columbia University and Ohio State University.

      imageNita Rudra is a Professor in the Department of Government at Georgetown University.