PORT WINE, BRAZIL AND THE WORLD ECONOMY: A TIME SERIES ANALYSIS FROM 1756 TO BRAZILIAN INDEPENDENCE*

Paulo Mourão

Revista de Historia Económica / Journal of Iberian and Latin American Economic History, 2017, vol. 35, issue 2, 275-300

Abstract: The Douro Wine Company was one of the most emblematic mercantilist companies promoted by the Marquis of Pombal. It was established in 1756 and has played an unquestionably important role in the Port wine market since then. Port wine exports to Brazil were significantly lower than exports to England over time. Generally, the oscillation of Port wine exports to Brazil has been explained by particular episodes in the Douro Wine Company’s business. Employing structural break analysis and vector of error correction models to analyse data between 1756 and 1826, we concluded that Port wine exports to Brazil were robustly explained by the monetary dimensions of the world economy of the time.

Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:cup:reveco:v:35:y:2017:i:02:p:275-300_00

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