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Brazil’s economic growth and real (div)convergence from a very long-term perspective (1822-2019): An historical appraisal

Author

Listed:
  • Natalia I. Doré
  • Aurora A. C. Teixeira

Abstract

The reconstruction of the economic history of Brazil since independence fromPortugal (1822) may lead to a new understanding of its economic growth. The deep-rootedidea that Brazil could have done better means there is a need to delve into each phase of itsdevelopment. In this paper, we provide a very long-run perspective (1822-2019) of Brazil’seconomic growth and process of real convergence. On the one hand, this review indicatesthat structural changes observed in the middle of the 20th century were crucial in promoting the country’s growth and real convergence with technologically advanced countries. Onthe other hand, poor institutional conditions and deficient human capital formation haveemerged since colonial times as critical factors underlying Brazil’s inability to establishrobust and sustainable economic growth. JEL Classification: N10; N16; O40.

Suggested Citation

  • Natalia I. Doré & Aurora A. C. Teixeira, 2022. "Brazil’s economic growth and real (div)convergence from a very long-term perspective (1822-2019): An historical appraisal," Brazilian Journal of Political Economy, Center of Political Economy, vol. 42(4), pages 934-956.
    • Handle: RePEc:ekm:repojs:v:42:y:2022:i:4:p:934-956:id:2372
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    Keywords

    Economic growth; real convergence; Brazil; very long run;
    All these keywords.

    JEL classification:

    • N10 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - General, International, or Comparative
    • N16 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Latin America; Caribbean
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General

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