Abstract
In recent years, the Brics economies have been in a state of rapid growth. At the same time, some contradictions and problems in economic growth have been gradually exposed: Structural problems in economic growth are prominent, unstable factors in economic growth still exist, the distribution of the fruits of economic growth is not harmonious, and the economic growth pattern has yet to be fundamentally changed. Therefore, how to maintain the sustainability of economic growth of the emerging large countries represented by the Brics countries has become one of the most critical issues at present, and fundamentally, it is closely related to the quality of economic growth.
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Notes
- 1.
Lewis also defined economic development in his Theory of Economic Growth as “raising the standard of living for ordinary people” and measured it in terms of growth in per capita income. Barro believed that economic development fundamentally reflects the growth of per capita GDP, so the basic measurement indicators of economic development are the logarithm of per capita GDP, years of education and urbanization rate. According to Barro, economic development is economic factors closely related to the quantity of economic growth, while the quality of economic growth is the social, political, religious and other factors closely related to the quantity of economic growth.
- 2.
The speed method uses raw GDP growth rate data to describe the cyclic fluctuations of economy.
- 3.
These 12 years also include 2000–2002 already in the phase of 2000–2008.
- 4.
For this part, reference was made to Ma Yan: Comparative Research of Economic and Social Development in Brics Countries, China National Conditions and Strength 2011, no. 4, pp. 43–47.
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Ouyang, Y., Yi, X., Tang, L. (2019). Assessment of the Quality of Economic Growth in Brics Countries. In: Growth and Transformation of Emerging Powers. Palgrave Macmillan, Singapore. https://doi.org/10.1007/978-981-32-9744-9_3
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