Abstract
The rates of growth and stability of economic development of the countries of the Portuguese world in the years 1870-2018 are investigated. The comparison has been carried out for 15 economic cycles, which are grouped into following historical periods: monarchical, dictatorial and democratic. The developed method for researching economic development policies makes it possible to quantitatively assess the historical fate of territories in terms of growth and risk. The indicators of the standard deviation of the growth rates of real gross domestic product were used as an indicator of sustainability. The features of progressive, regressive, conservative and aggressive policies of economic development are described. It is shown that during the entire studied period, only Spain which is beyond the Portuguese-speaking word demonstrated similarity in development with Portugal. Brazil's development trend deviated from the metropolis after 130 years of independence and 60 years of obvious institutional differences. African colonies in their turn immediately began to demonstrate a drastically different development policy. This proves that culture has a more significant and long-term impact on economic development than state and social institutions. The results obtained show that the Portuguese world has not formed a separate civilization with special and peculiar traits to be united with the common historical fate.
Highlights
The work examines the development of the economy of Portugal, as well as countries that were part of the same State entity at different times or use the Portuguese language as a state language
This study focuses on the hypothesis about the presence or absence of similarity in the economic development of Portuguese-speaking countries whether the cultural and linguistic proximity of these countries affects the trends of economic development and how quickly postcolonial institutions lose their implication in the former colonies
The period of economic development of Portugal in 1870-1918, which can be conditionally called ‘monarchic’, is characterized by stagnation of the economy, when the economic activity was focused on trade and commodity in the colonies
Summary
The work examines the development of the economy of Portugal, as well as countries that were part of the same State entity at different times or use the Portuguese language as a state language. From the metropolis, the former colonies borrowed the Portuguese language and the Catholic religion, but other cultural differences between them are significant. The study of economic relations between Portugal and Brazil is devoted to the study of Martynova E.I. In the work of Medyshevsky N.A. results of the study of the economic development of Brazil are presented [7]
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