BRICS or Bust? Escaping the Middle-Income Trap

"Elsenhans and Babones critique development orthodoxies with aplomb, providing clear guidance on what can be done at a policy level. The authors' knowledge of relevant theory and debates, brought together with original data, results in an impressive synthesis of argument and evidence."-Robert Holton, Trinity College Dublin "Covering a wide range of theory and empirical evidence, this concise, critical survey chronicles the rise of the BRICS and the policy dilemmas that they face. Highly recommended."-Ray Kiely, Queen Mary University of London, author of The BRICs, US "Decline" and Global Transformations "This is a wonderful introduction to the critical policy problems facing the BRICS and to the wide-ranging and deeply insightful global political economy of Hartmut Elsenhans, one of the undersung giants in the field."-Craig N. Murphy, Wellesley College "This remarkable book provides a practical road map with theoretical underpinnings about how BRICS countries, despite enormous differences in their socio-political systems, can coalesce for the common goal of escaping the 'low or middle income trap.' The intellectual challenge that the authors pose to conventional market-oriented wisdom is a must-consider for concerned economists and politicians."-Amit Bhaduri, Jawaharlal Nehru University "This is a well-written book on a very important subject: the BRICS. At times provocative and controversial, it is most interesting and highly readable."-Lim Chong Yah, National University of Singapore and Nanyang Technological University "Are the BRICS caught in the middle-income 'trap,' facing a structural 'barrier' to further development? Through a detailed examination of the recent slowdown in these economies, this book offers a compelling theoretical analysis and a clear, actionable set of policies to overcome the barrier."-Jan Kregel, Director of Research, Levy Economics Institute, Bard College