BRICs' Philosophies for Development Financing and Their Implications for LICs

Working Paper No. 12/74

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.
Publication date: March 2012
ISBN: 9781475502268
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Topics covered in this book

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Economics- Macroeconomics , Economics / General , International - Economics , Aid , Brics , Russia , Institutions , Lics , Conditionality , Low-income Developing Countries , History Of Thought: - Individuals , International Finance , Development Planning And Policy , Comparative Economic Systems

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