The BRIC states: An economic comparison

Media and policy attention has recently focussed on the four newly industrialised countries of Brazil, Russia, India and China, often referred to as the BRIC states. This public attention is clearly the result of the increasing economic importance of these countries. This article describes their economic development in recent years, comparing it with the advanced economies of the US and Germany. It also provides an overview of the fiscal policies of the BRIC states during the recent economic and financial crisis.