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Political instability, institutional change and economic growth in Brazil since 1870

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  • Campos, Nauro
  • Karanasos, Menelaos
  • Koutroumpis, Panagiotis
  • Zhang, Zihui

Abstract

Are institutions a deep cause of economic growth? This paper tries to answer this question in a novel manner by focusing on within-country variation, over long periods of time, using a new hand-collected data set on institutions and the power-ARCH econometric framework. Focusing on the case of Brazil since 1870, our results suggest (a) that both changes in formal political institutions and informal political instability affect economic growth negatively, (b) there are important differences in terms of their short- versus long-run behaviour, and (c) not all but just a few selected institutions affect economic growth in the long-run.

Suggested Citation

  • Campos, Nauro & Karanasos, Menelaos & Koutroumpis, Panagiotis & Zhang, Zihui, 2020. "Political instability, institutional change and economic growth in Brazil since 1870," Journal of Institutional Economics, Cambridge University Press, vol. 16(6), pages 883-910, December.
    • Handle: RePEc:cup:jinsec:v:16:y:2020:i:6:p:883-910_7
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    Cited by:

    1. Doré, Natalia I. & Teixeira, Aurora A.C., 2023. "The role of human capital, structural change, and institutional quality on Brazil's economic growth over the last two hundred years (1822–2019)," Structural Change and Economic Dynamics, Elsevier, vol. 66(C), pages 1-12.
    2. Alsagr, Naif & Cumming, Douglas J. & Davis, Justin G. & Sewaid, Ahmed, 2023. "Geopolitical risk and crowdfunding performance," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 85(C).
    3. Nauro Campos & Ekaterina Glebkina & Menelaos Karanasos & Panagiotis Koutroumpis, 2023. "Financial Development, Political Instability, Trade Openness and Growth in Brazil: Evidence from a New Dataset, 1890-2003," Open Economies Review, Springer, vol. 34(4), pages 831-861, September.

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