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The announcement of a BRICS development bank in the
context of the ongoing global economic turmoil assumes
a special significance. Some perceive it as an alternative
to the already discredited World Bank with its North
Centric leadership resulting in a dogmatic imposition
of neo-liberal conditionalities on the indebted South;
many assume this as a watershed, signaling the shift
in global economic governance from the traditional
powerhouses of the North to the newly emerging powerhouses
of the South; while others perceive it as a tool to
be used by the member countries to increase their
influence in their respective Southern pockets.
This section includes articles analysing the emergence
of BRICS Development Bank and its possible implications
for global economic governance, regional impact of
the BRICS nations, and other repercussions.
Why
does Brazil's Banking Sector Need Public Banks? What
should the BNDES do?
Felipe Rezende
(November 06, 2015)
The author
examines the role played by the BNDES in financing
long term development, how to finance it, and the
government's role in the direct provision of financial
services.
Development Finance in BRICS Countries
Published by the Heinrich Böll
Foundation
(September 11, 2015)
This volume
aims to provide background information for an informed
debate about development financing from the perspective
of emerging economies, especially the BRICS countries.
Banking
with a Difference
C.P. Chandrasekhar (August
12, 2014)
Democratic forces in
BRICS and other countries have to ensure that the
BRICS bank acts differently from existing development
banks to be a true alternative as expected.
The
BRICS Bank
Prabhat Patnaik (July
31, 2014)
The optimism that the
newly formed BRICS bank can provide an alternative
to the neo-liberal World Bank maybe misplaced given
the political economy of the BRICS members.
BRICS
Gains Currency in Brazil
Biswajit Dhar (July 25,
2014)
BRICS is poised to
make a mark in the global economic governance, if
the NDB and the CRA turn into credible financial institutions
– as counterparts of the existing structure.
The
BRICS Bank: Part of a new financial architecture (2)
(Oscar Ugarteche (July
25, 2014)
Given that the BRICS
countries all have first tier development banks implies
that they also have development bankers who can bring
their expertise to the New Development Bank.
The
BRICS Bank: Part of a new financial architecture (1)
Oscar Ugarteche (July
25, 2014)
The BRICS Bank would
be less vulnerable if it used non dollar denominated
bonds similar to those established by the World Bank
in the 1980's.
Using
the Potential of BRICS Financial Co-operation
Jayati Ghosh (April 9,
2012)
The
emergence of BRICS as a global economic entity offers
a scope for democratizing the entire process of South-South
Co-operation that till date has been mainly corporate
led. The commonalities of the challenges faced by
the individual members of BRICS can act as a platform
for developing a more progressive developmental trajectory
for the member countries, and all emerging economies
at large.
July 25, 2014.
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