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Otro caso muy interesante es el Imperio de Brasil. En tiempos de olores libertarios, la monarquía parlamentaria debía decidir si se sumaba a la moda independentista de la época o si optaba por otros rumbos. El miedo de la aristocracia terrateniente Brasilera a los efectos que podría generar una especie de democracia sobre una economía en su totalidad esclava logro expandir la institución monárquica por cientos de años.
The economist lo pone en buenos terminos:
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The imperial powers certainly generated a lot of institutional variety, sprinkling Spanish vassalage, British indirect rule and American paternalism across the globe. But was this variation random? Surely not. Imperialists vied to plant their flag in the most lucrative spots, wherever the spices were rich or the sugar cane tall. Thus a conundrum remains: if, say, America's former colonies have prospered compared with Spain's, was this because America bequeathed the best institutions, or because it found the most promising areas of the world to colonise?
What is ingenious about the recent economic studies of empire is how they overcome this problem. Imperial institutions may determine prosperity, but the reverse may also be true. The trick is to find some third factor that is securely linked to institutions, but entirely unconnected to economic success. Such factors are called “instrumental variables”, because the economist is interested in them not for themselves, but for what they tell him about something else.
What is ingenious about the recent economic studies of empire is how they overcome this problem. Imperial institutions may determine prosperity, but the reverse may also be true. The trick is to find some third factor that is securely linked to institutions, but entirely unconnected to economic success. Such factors are called “instrumental variables”, because the economist is interested in them not for themselves, but for what they tell him about something else.
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