This paper dwells upon the development of the emerging markets of the BRIC countries. Economies of Brazil, Russia, India, and China are experiencing rapid growth, and these countries can take up a considerable share of the global market.
Major objectives of the present research are to explore central principles that have contributed to the growth as well as the expansion of the countries in question; to analyze the transformational leadership models used in the BRICs and the way these principles affected the economies’ growth, and to identify major challenges, the countries have faced.
The present research is based on data obtained through secondary research. Books, peer-reviewed journals as well as data from the websites of the World Bank Group and the International Monetary Fund have been analyzed. The qualitative research method is employed to address the objectives of this study. The following variables have been analyzed: GDP growth, capital flows, production growth, and population.
Analysis and Results
It has been found that the four countries have to experience disproportionate economic growth. Thus, India and Brazil have quite similar rates of growth (excluding population rate). China is the leading economy among the four countries in question. Russia is the least successful economy and the least attractive market for investment.
It is possible to conclude that China has employed transformational leadership models effectively and has become one of the most successful (and attractive for investment) emerging markets. Russia has been vulnerable to international financial crises, and the recent position of RF is unstable due to international sanctions. Brazil and India show steady growth, and it is clear that the policies used in these countries are quite successful.