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The Political Economy of Emerging Markets: Varieties of BRICS in the Age of Global Crises and Austerity

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Rapid and sustained growth in the twenty-first-century global economy of large developing economies including Brazil, Russia, India, China, and South Africa, has captivated policy-makers and popular business press pundits alike. The coining of the new acronym BRICS and widespread adoption in international economics discourse of the designation "emerging markets" is symptomatic of that interest.

The Political Economy of Emerging Markets situates the BRICS phenomena in the global economic cont...