IMF paper finds large Brics spillover effect on low-income countries


The rapid growth of Brazil, Russia, India and China (Brics) and their integration into the world economy have substantially strengthened their trade and financial ties with low-income countries, according to an International Monetary Fund paper published on Monday.

Issouf Samake and Yongzheng Yang, the paper's authors, use a global vector autoregression model to investigate the extent of business cycle transmission from Bric countries to low-income countries through both direct channels (foreign

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