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Economic Growth, Markets and the Rule of Law: Brief Considerations on the Brazilian Case

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Abstract

The existence of markets that operate smoothly is an important factor influencing a nation’s economic growth. Furthermore, an effective judicial system is a necessary condition for markets to function well. Therefore, it is reasonable to expect a positive relationship to exist between income per capita and adhesion to the rule of law. This conjecture is corroborated here in a sample of 110 countries in 2016. Additionally, the data show that the rule of law is relatively weak in Brazil, suggesting that an improvement of the Brazilian judicial system is a potential growth-enhancing reform.

Keyword : Rule of law, markets, per capita income, growth Primado das leis, mercados, renda per capita, crescimento

How to Cite
Cunha, A. B. (2021). Economic Growth, Markets and the Rule of Law: Brief Considerations on the Brazilian Case. Brazilian Business Review, 18(2), 196–216. https://doi.org/10.15728/bbr.2021.18.2.5

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