Will the integration of BRIC (Brazil, Russia, India and China) into the global economy provide the biggest boost to the world economy since the industrial revolution ? In this paper, we investigate international demand spillovers brought about by an emerging global middle class and their impact...

The disparity between the development paths followed by the economies of a limited number of countries, known as «emerging», and the bulk of the other developing countries has shown the limitations of previous development strategies. As a consequence, at the beginning of the 1990s, the...