Investment in Brazil to rise as it is labeled a growth economy?
Date added: 2nd March, 2011 at 09:27
(view all articles from March, 2011)
Categories: Economy
Experts at Goldman Sachs have labeled eight countries "growth economies", saying investment in Brazil can be pursued along the same lines as in more developed nations.
In an article for the Moscow Times, head of global economic research and commodities and strategy research at the asset management bank Jim O'Neill explained he and his colleagues had studied which economies were the most "dynamic" in the world.
Having coined the word Bric (Brazil, Russia, India and China) as well as N11 (the next 11) to describe countries that were likely to grow into much larger powers than they currently are, the expert wanted to look further into his distinction of what an emerging market is.
As a result, he identified eight countries, including Brazil, which he termed growth economies.
Mr O'Neill described these as those that are "likely to see rising productivity and, combined with favorable demographics, likely to grow at a faster rate than the world's average," he explained.
This newly categorised type of country is one that accounts for at least one per cent of global gross domestic product and offers investors enough scale and liquidity to both speculate and exit.
His comments come after those of Jim Pyke, who wrote on Seeking Alpha that Brazil could offer significant future growth.
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