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Do human capital and institutional quality contribute to Brazil's long term real convergence/divergence process? A Markov regime-switching autoregressive approach

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  • Doré, Natalia Izelli
  • Teixeira, Aurora A. C.

Abstract

This paper assesses Brazil's real convergence (1822–2019) through unit root tests and Markov Regime-Switching (MS) models in three different scenarios: towards (i) other six Latin American countries (LA6); (ii) Portugal; and (iii) the technological frontier country, the US. The extended unit root test results favour Brazil's very long-run real convergence towards LA6 and Portugal, but not the US. The estimated MS models, involving two different regimes, real convergence and real non-convergence/divergence, capture institutional quality's positive effect in promoting Brazil's real convergence.

Suggested Citation

  • Doré, Natalia Izelli & Teixeira, Aurora A. C., 2024. "Do human capital and institutional quality contribute to Brazil's long term real convergence/divergence process? A Markov regime-switching autoregressive approach," Journal of Institutional Economics, Cambridge University Press, vol. 20, pages 1-1, January.
    • Handle: RePEc:cup:jinsec:v:20:y:2024:i::p:-_8
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