BRICs’ Philosophies for Development Financing and their Implications for LICs

Yongzheng Yang and Nkunde Mwase

No 2012/074, IMF Working Papers from International Monetary Fund

Abstract: Flows of development financing from the BRICs (Brazil, Russia, India, and China) to low income countries (LICs) have surged in recent years. Unlike aid from traditional donors, BRICs (excluding Russia) view their financing as primarily based on the principles of South-South cooperation, focusing on mutual benefits without attachment of policy conditionality. This paper provides an overview of the philosophies and modalities of BRIC financing and examines their implications for LIC economies and future LIC-BRIC engagement.

Keywords: WP; BRIC financing; financing; BRIC; SSA LICs; firm; Aid; BRICs; Brazil; China; Russia; Institutions; Debt; LICs; Bric financing of infrastructure; LIC government; BRIC firm; BRIC assistance; BRIC export credits; financing flow; BRIC engagement; Development assistance; Infrastructure; Debt sustainability; Poverty reduction; Public investment and public-private partnerships (PPP); Africa (search for similar items in EconPapers)
Pages: 25
Date: 2012-03-01
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Citations: View citations in EconPapers (10)

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