This paper explores whether natural resource abundance is a curse or a blessing. To do so, we firstly develop a theory consistent econometric model, in which we show that there is a long run relationship between real income, the investment rate, and the real value of oil production. Secondly, we...

This paper investigates the effects of institutional reforms in Brazil. It first provides a comparative assessment of the level of institutional development of Brazil with other Latin American countries such as Chile and Argentina. It considers institutional indicators on "doing private...

This paper uses a novel data set to quantify the difference in performance of public and private school students in an entrance test exam of the major public university in Brazilian Northeast (Universidade Federal de Pernambuco - UFPE). Although there are many public universities in Brazil, from...

This article examines the degree of market and firm competitiveness that developed in Brazil in the 15 years since the introduction of neo-liberal policies. In particular, it evaluates the extent to which trade liberalization and the freeing-up of domestic markets has resulted in more...