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Milo Vandemoortele, Kate Bird, Andries Du Toit, Minquan Liu, Kunal Sen, Fábio Veras Soares (Translation ed. by: Olga Perfilieva)

Building Blocks for Equitable Growth: Lessons from the BRICS

2013. Vol. 8. No. 2. P. [issue contents]

Milo Vandemoortele- PhD student at the London School of Economics (LSE), ex-Research Officer in the Growth, Poverty and Inequality Programme at the Overseas Development Institute (ODI), London School of Economics and Political Science, WC2A 2AE, Houghton St., London, United Kingdom; E-mail: M.Vandemoortele@lse.ac.uk

Kate Bird - Research Associate with ODI, formerly Head of ODI’s Growth and Equity Programme, Overseas Development Institute, SE1 8NJ, 203 Blackfriars Rd, London, United Kingdom; E-mail: k.bird.ra@odi.org.uk

Andries Du Toit - Director of the Institute for Poverty, Land and Agrarian Studies (PLAAS) and Professor at the University of the Western Cape in Cape Town, Institute for Poverty, Land and Agrarian Studies, 7535, X17, Private Bag, Bellville, South Africa; E-mail:adutoit@plaas.org.za

Liu Minquan- Senior Research Fellow at the Asian Development Bank Institute (ADBI), former Professor and Chair of the Department of Development Economics at Peking University, Founding Director of the Center for Human and Economic Development Studies; Asian Development Bank Institute, 100-6008, 8F, 3-2-5, Kasumigaseki Building Kasumigaseki, Chiyoda-ku, Tokyo, Japan; E-mail: minquanliu@pku.edu.cn

Kunal Sen - Professor of Development Economics and Policy at the Institute for Development Policy and Management (IDPM) at the University of Manchester, University of Manchester, M13 9PL, Oxford Rd, Manchester, United Kingdom; E-mail: Kunal.Sen@manchester.ac.uk

Fábio Veras Soares - Research Coordinator on Cash Transfers at the International Policy Centre for Inclusive Growth (IPC-IG) in Brasilia; International Policy Centre for Inclusive Growth, 70052-900, 7 andar, Esplanada dos Ministérios, Bloco O, Brasilia-DF, Brazil; E-mail:fabio.veras@undp-povertycentre.org

Abstract

Five key emerging market economies, commonly termed the BRICS (Brazil, Russia, India, China and South Africa), have been lauded for their stellar economic growth and resilience through the 2008/09 financial crisis. They are becoming models of development for development practitioners, researchers and other emerging economies. Scratch beneath the surface, however, and you will notice that not all people in these countries have benefited equally from growth. Some countries have seen enormous increases in income inequality – specifically China, India and South Africa; while Brazil has enjoyed a reduction. What can be learnt, in terms of the challenges and successes of reconciling growth and equity, from the BRICS’ recent growth? The article provides the definition of equitable growth, discusses instrumental and intrinsic arguments for equitable growth. It examines the experiences of four of the BRICS – Brazil, China, India and South Africa and identifies four key factors shaping the countries’ pattern of growth: people having access to assets (especially to skills and land in agrarian societies); investment in productive activities that generate jobs and opportunities for the majority; social transfers to guarantee minimum incomes to those who cannot work or cannot find work; and a political economic context where inclusion is a priority.

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Citation: Vandemoortele Milo , Bird Kate , Du Toit Andries , Liu Minquan , Sen Kunal , Soares Fábio Veras (2013) Sozdavaia osnovu dlia ravnogo rosta: politika sotcial'nogo ravenstva v stranakh-chlenakh BRIKS [Building Blocks for Equitable Growth: Lessons from the BRICS] INTERNATIONAL ORGANISATIONS RESEARCH JOURNAL, 2 (in Russian)
Keywords: China; economic growth; BRICS; South Africa; equity of opportunities; Brazil; poverty; inequality; India
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