Brazil’s economic growth and real (div)convergence from a very long-term perspective (1822-2019): An historical appraisal

Natalia I. Doré () and Aurora A. C. Teixeira ()

Brazilian Journal of Political Economy, 2022, vol. 42, issue 4, 934-956

Abstract: The reconstruction of the economic history of Brazil since independence fromPortugal (1822) may lead to a new understanding of its economic growth. The deep-rootedidea that Brazil could have done better means there is a need to delve into each phase of itsdevelopment. In this paper, we provide a very long-run perspective (1822-2019) of Brazil’seconomic growth and process of real convergence. On the one hand, this review indicatesthat 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. Onthe other hand, poor institutional conditions and deficient human capital formation haveemerged since colonial times as critical factors underlying Brazil’s inability to establishrobust and sustainable economic growth. JEL Classification: N10; N16; O40.

Keywords: Economic growth; real convergence; Brazil; very long run (search for similar items in EconPapers)
Date: 2022
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