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Brazil’s economic growth and real (div)convergence from a very long-term perspective (1822-2019): An historical appraisal
- Source :
- Brazilian Journal of Political Economy, Vol 42, Iss 4, Pp 934-956 (2022)
- Publication Year :
- 2022
- Publisher :
- Editora 34, 2022.
-
Abstract
- ABSTRACT 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.
- Subjects :
- Economic growth
real convergence
Brazil
very long run.
Economics as a science
HB71-74
Subjects
Details
- Language :
- English, Portuguese
- ISSN :
- 18094538 and 01013157
- Volume :
- 42
- Issue :
- 4
- Database :
- Directory of Open Access Journals
- Journal :
- Brazilian Journal of Political Economy
- Publication Type :
- Academic Journal
- Accession number :
- edsdoj.56e8cf0fb0674547bd625429e05f4153
- Document Type :
- article
- Full Text :
- https://doi.org/10.1590/0101-31572022-3376