Il ruolo delle istituzioni politiche nello sviluppo economico dei Bric

Brazil, Russia, India and China are known as the Bric nations. Their extremely rapid economic growth over the last twenty years has been surprising. However, a recent report of the International Monetary Fund shows that there has been a fall in the per capita GDP of these countries and the forecasts for the next two years are not positive. The key question is the following: is this extraordinary growth going to last in the long term or not? The answer is that this economic development is sustainable for a long period only if the countries have inclusive economic and political institutions. This means that they should have a democratic government which ought to make reforms to deal with issues such as poverty, corruption and the lack of education. On one hand, Brazil and India have struggled a lot to establish the democratic government they now have. On the other hand, China and Russia still have extractive institutions which control not only the economy, but also politics.