Publication: The Reconstruction of Brazil's Foreign Trade Series, 1821-1913
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2017-04
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Abstract
To date, research on the economic history of Brazil during the nineteenth century has relied on official foreign trade statistics, the accuracy of which has repeatedly been put into question. This paper provides insights into the accuracy of the official series by examining the accuracy of the export and import series for Brazil during the nineteenth century. We re-estimate the official import series using trading partner sources, and find that the official series was marginally under-valued during certain periods of the nineteenth century. Furthermore, we provide new upper- and lower-bound estimates of the export series by testing different assumptions regarding the size of the cif-fob factor adjustments. Finally, we introduce a new import price index for the period 1827-1913.
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Nineteenth Century globalization, Brazil, Foreign trade reconstruction, Price Indices