Political instability, institutional change and economic growth in Brazil since 1870

Campos, Nauro, Karanasos, Menelaos, Koutroumpis, Panagiotis and Zhang, Zihui (2020) Political instability, institutional change and economic growth in Brazil since 1870. Journal of Institutional Economics, 16 (6). pp. 883-910. ISSN 1744-1374

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Are institutions a deep cause of economic growth? This paper tries to answer this question in a novel manner by focusing on within-country variation, over long periods of time, using a new hand-collected data set on institutions and the power-ARCH econometric framework. Focusing on the case of Brazil since 1870, our results suggest (a) that both changes in formal political institutions and informal political instability affect economic growth negatively, (b) there are important differences in terms of their short- versus long-run behaviour, and (c) not all but just a few selected institutions affect economic growth in the long-run.

Item Type: Article
Additional Information: This material has been published in Journal of Institutional Economics by Panagiotis Koutroumpis https://doi.org/10.1017/S174413742000020X. This version is free to view and download for private research and study only. Not for re-distribution or re-use. © Millennium Economics Ltd 2020.
Keywords: Economic growth, institutions, political instability, power-ARCH, volatility
Schools and Departments: University of Sussex Business School > Accounting and Finance
SWORD Depositor: Mx Elements Account
Depositing User: Mx Elements Account
Date Deposited: 21 Sep 2022 09:46
Last Modified: 22 Sep 2022 12:26
URI: http://sro.sussex.ac.uk/id/eprint/108046

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