The potential of economic growth and technology advancement in the BRICs

As the four largest developing countries, the BRICs, consisting of Brazil, Russia, India and China, have shown their important role in the world economy and policy in the last decade. It is argued that the BRICs will achieve the most prospective economic growth in the next generation in the world. Considering the geographic advantages and abundant natural and human resources in BRICs, their rapid economic growth and dramatic ICT development are investigated in this paper. Taking TFP as a measure of technology input, the contribution of technology advancement to economic growth is also demonstrated. Finally, based on the logistic growth model, an empirical analysis of ICT developing potential in BRICs is conducted by examining the diffusion trajectories of ICT.