Secular stagnation? A new view on Brazil’s growth in the 19th century

Edmar Lisboa Bacha, Guilherme A. Tombolo and Flávio Rabelo Versiani

Revista de Historia Económica / Journal of Iberian and Latin American Economic History, 2025, vol. 43, issue 2, 279-308

Abstract: The established economic historiography asserts that Brazil’s per-capita GDP stagnated in the 19th century and that it grew extremely slowly in the period of the monarchy (1822–1889). We argue that these conclusions are based on inadequate methods, insufficient statistical evidence, and disregard for available historical evidence. Building on the methodology followed by one of us in a previous article, with the use of new databases, and a reasoned exploration of alternatives, our best estimate is that over the 1820–1900 period, Brazil’s per-capita income grew at a trend rate of 0.9% per year, a performance like Western Europe and other Latin America countries. Only a sharp economic contraction at the end of the period dulled Brazil’s performance in the 19th century.

Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:cup:reveco:v:43:y:2025:i:2:p:279-308_5

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