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The present paper analyzes the convergence in economic and social terms across Brazilian states from 1990 to 2010. We argue that a more ample perspective is enlightening because income convergence does not necessarily go hand in hand with social convergence and income is not the only relevant aspect of well-being. Social convergence is captured by selected indicators, such as years of study, life expectancy at birth and the absence of crime. Using OLS, fixed effects and spatial dependence models, we find that GDP per capita has the highest dispersion across states and its absolute convergence is relatively slow. Social conditions, in contrast, have become considerably more equal and seem to converge towards a unique steady state at half-lives between 8 and 12 years. Absence of crime shows a peculiar behavior and a non-linear inconclusive convergence path. [ABSTRACT FROM AUTHOR]

The reconstruction of the economic history of Brazil since independence from Portugal (1822) may lead to a new understanding of its economic growth. The deep-rooted idea that Brazil could have done better means there is a need to delve into each phase of its development. In this paper, we provide a very long-run perspective (1822-2019) of Brazil's economic growth and process of real convergence. On the one hand, this review indicates that 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. On the other hand, poor institutional conditions and deficient human capital formation have emerged since colonial times as critical factors underlying Brazil's inability to establish robust and sustainable economic growth. [ABSTRACT FROM AUTHOR]

Competitiveness on a small and large scale is necessary for growth. A definitive link between the level of competitiveness and growth has been difficult to prove. One of the primary objectives of economic planning is to promote price and exchange rate stability. Entrepreneurialism and productivity also increase the country's export competitiveness. The aim of this study is to test for the convergence in competitiveness and convergence club existence in selected economies. No previous research had tested for convergence in competitiveness using a nonlinear timevarying factor model. This paper provides an overview on convergence in competitiveness and convergence clubs' existence for 42 countries using quarterly data from 1994q1 to 2020q4 testing on competitiveness. Convergence log (t) test results show differences in competitiveness between classified convergence clubs. Russia, Brazil, and Turkey are the clubs (groups of countries) that show a transitional path (convergence in competitiveness) that differs entirely from the rest of the sample. Countries with more natural resources and exogenous monetary policies follow a unique development path to competitiveness. We find no evidence of divergence in countries within the clubs. However, we find a club (group of countries) following a clear divergence path from the other countries (Russia, Brazil, and Turkey). Our findings could potentially explain the increase in divergence in competitiveness across countries after the financial crisis of 2008. [ABSTRACT FROM AUTHOR]

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Copyright of Revista de la CEPAL is the property of United Nations Publications and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This article examines the relationship between legislative malapportionment, redistribution, and regional economic development. One of the primary justifications for legislative malapportionment—the disparity between the share of legislative seats and the share of the national population—is interregional income equalization by means of favorable allocations of resources to rural areas through overrepresentation. By analyzing the case of Brazil using instrumental variables, this study evaluates the theoretical argument and the empirical validity of the presumed mechanism linking unequal representation to regional development and national economic convergence. It argues that in contexts of undeveloped democracies, rather than convergence, disproportionate resource transfers via overrepresentation hinder the development of beneficiary regions. The empirical analyses of Brazilian states indicate that while overrepresented jurisdictions do receive disproportionate shares of resources from the federal government, disproportionate resource transfers, and dependence on resource transfers attributable to overrepresentation hamper the development potential of those regions. [ABSTRACT FROM AUTHOR]

We propose a spatial error model with continuous random effects based on Matérn covariance functions and apply this model for the analysis of income convergence processes ( $$\beta $$ -convergence). The use of a model with continuous random effects permits a clearer visualization and interpretation of the spatial dependency patterns, avoids the problems of defining neighborhoods in spatial econometrics models, and allows projecting the spatial effects for every possible location in the continuous space, circumventing the existing aggregations in discrete lattice representations. We apply this model approach to analyze the economic growth of Brazilian municipalities between 1991 and 2010 using unconditional and conditional formulations and a spatiotemporal model of convergence. The results indicate that the estimated spatial random effects are consistent with the existence of income convergence clubs for Brazilian municipalities in this period. [ABSTRACT FROM AUTHOR]

Does the Brazilian presidential system shape environmental policy there? The comparative literature on environmental policy offers few reasons to think that it might. Most explanations of variations in the quantity and quality of environmental regulation stress levels of economic development or move outside of the nation-state to examine international processes of diffusion and convergence. Other studies look at large macrostructural differences like the contrast between democratic and authoritarian systems and/or the role of non-state actors. This article examines environmental policies and outcomes in three successive presidential administrations in Brazil to develop hypotheses about whether institutional factors should gain a larger place in comparative studies of environmental policies and outcomes. [ABSTRACT FROM AUTHOR]

This article presents the first assessment of domestic market integration in Brazil using the law of one price. The law of one price is tested using two panel unit root methodologies and a unique data set comprising price indices for 51 products across 11 metro-areas. We find that the law holds for most tradable products and, not surprisingly, nontradable products are found to be less likely to satisfy the law of one price. While these findings are consistent with evidence found for other countries, price convergence occurs very slowly in Brazil, suggesting relatively limited domestic market integration. [ABSTRACT FROM AUTHOR]

This report provides a discussion on how the shift from local accounting practices to the International Financial Reporting Standards (IFRS) affects several countries including Brazil, India, China, South Africa, Republic of South Korea, Poland and Russia. The methods used to determine how this change affected countries was completed by studying surveys, reading studies on the shift to IFRS and reviewing articles dedicated to the adoption or convergence to the new standards within these countries. The report finds that some countries, though onboard with the shift to IFRS, are working at extremely different paces to adopt the new international standards. Results of the data that was analyzed show that the countries were affected not only by reporting standards but by many other factors as well. Effects on a globalization of accounting standards that were discovered include: • new education requirements • cultural differences with regards to disclosures • taxation • maintenance of organizational financial records • legal and economic environments of businesses The report also investigates that the convergence has limitations including: • pushback from countries not willing to converge at this time • independent standards within each country that conflict with IFRS We recommend all countries shift to one globalized standard to provide potential and current investors in international organizations continuity of financial records. Doing so would curb the requirements for restating financial statements, without the worry of significant information being misinterpreted or unavailable. [ABSTRACT FROM AUTHOR]