Saavi Patel |Allegra Negri | Grace Kim | 2022

Economic Aid to the BRIC Economies

How effective has economic aid been in the development of the BRIC economies since the year 2000?

Abstract

This paper aims to demonstrate the impact of foreign economic support on the growth of the BRIC economies since the 2000s. Indicators including the Gross Domestic Product (GDP), Gross National Income (GNI), Human Development Index (HDI), Life Expectancy, and Literacy Rates are used as a baseline for which to measure development. Comparing the statistics of these development indicators from 2000 to the present day, the data indicates that there have been notable advancements, with each nation improving in their development indicators, however, while correlations between these and aid received was often present, it was not possible to prove a causal link between aid received and these indicators. It is observed that in some nations, it might be challenging to locate precise statistics and data that can be used to support a claim and establish accurate correlations between the effects that aid has had on the development indicators of the BRIC economies.

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