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From battling inflation to navigating fiscal policy, Brazil’s economic trajectory is at a pivotal moment. But with rising interest rates, shifting trade dynamics, and global uncertainties, can this momentum hold?

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Culture, Institutions & the Long Divergence


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During the medieval and early modern periods the Middle East lost its economic advantage relative to the West. Recent explanations of this historical phenomenon—called the Long Divergence—focus on these regions’ distinct political economy choices regarding religious legitimacy and limited governance. Alberto Bisin discusses these features in a political economy model of the interactions between rulers, secular and clerical elites, and civil society. 

Image courtesy of interviewee. October 4, 2023

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