Economic Development Of Venezuela

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Venezuela Before Chávez

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Author : Ricardo Hausmann
Publisher : Penn State Press
ISBN 13 : 0271064641
Total Pages : 549 pages
Book Rating : 4.2/5 (71 download)

Book Synopsis Venezuela Before Chávez by : Ricardo Hausmann

Download or read book Venezuela Before Chávez written by Ricardo Hausmann and published by Penn State Press. This book was released on 2015-06-13 with total page 549 pages. Available in PDF, EPUB and Kindle. Book excerpt: At the beginning of the twentieth century, Venezuela had one of the poorest economies in Latin America, but by 1970 it had become the richest country in the region and one of the twenty richest countries in the world, ahead of countries such as Greece, Israel, and Spain. Between 1978 and 2001, however, Venezuela’s economy went sharply in reverse, with non-oil GDP declining by almost 19 percent and oil GDP by an astonishing 65 percent. What accounts for this drastic turnabout? The editors of Venezuela Before Chávez, who each played a policymaking role in the country’s economy during the past two decades, have brought together a group of economists and political scientists to examine systematically the impact of a wide range of factors affecting the economy’s collapse, from the cost of labor regulation and the development of financial markets to the weakening of democratic governance and the politics of decisions about industrial policy. Aside from the editors, the contributors are Omar Bello, Adriana Bermúdez, Matías Braun, Javier Corrales, Jonathan Di John, Rafael Di Tella, Javier Donna, Samuel Freije, Dan Levy, Robert MacCulloch, Osmel Manzano, Francisco Monaldi, María Antonia Moreno, Daniel Ortega, Michael Penfold, José Pineda, Lant Pritchett, Cameron A. Shelton, and Dean Yang.

Venezuela. Economic Structure, Economic Policy and International Economic Relations

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Author : Lena B.
Publisher : GRIN Verlag
ISBN 13 : 3668509352
Total Pages : 47 pages
Book Rating : 4.6/5 (685 download)

Book Synopsis Venezuela. Economic Structure, Economic Policy and International Economic Relations by : Lena B.

Download or read book Venezuela. Economic Structure, Economic Policy and International Economic Relations written by Lena B. and published by GRIN Verlag. This book was released on 2017-08-23 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2015 in the subject Economics - International Economic Relations, grade: 1,3, Wiesbaden University of Applied Sciences (Wiesbaden Business School), language: English, abstract: This paper is about the South American country Venezuela. It starts by giving a basic overview, followed by the Economic Policy. Venezuela is still a developing country, so there is information about the development policy efforts to improve. Furthermore I wrote about the grade of governmental interference in economy and how the Venezuelan government carries out fiscal, monetary and foreign exchange policy. In the fourth chapter, you learn about the current macroeconomic situation concerning the GDP situation, unemployment and especially about the extremely high inflation. After that the economic structure of Venezuela is described by subdividing it to the agricultural, industrial and service sector and a conclusion about the most significant branch in Venezuela, the oil industry. In the sixth chapter the international economic relations of Venezuela are presented by showing the main trade partners and the products which exchanged. Moreover the attractiveness for FDI is examined and I give a description about the reasons for emigration and besides about Venezuela’s participation in customs unions and free trade areas. I conclude the paper by giving my personal opinion about Venezuela’s major problems and potentials.

From Windfall to Curse?

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Author : Jonathan Di John
Publisher : Penn State Press
ISBN 13 : 0271076909
Total Pages : 215 pages
Book Rating : 4.2/5 (71 download)

Book Synopsis From Windfall to Curse? by : Jonathan Di John

Download or read book From Windfall to Curse? written by Jonathan Di John and published by Penn State Press. This book was released on 2015-12-21 with total page 215 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the discovery of abundant oil resources in the 1920s, Venezuela has had an economically privileged position among the nations of Latin America, which has led to its being treated by economic and political analysts as an exceptional case. In her well-known study of Venezuela’s political economy, The Paradox of Plenty (1997), Stanford political scientist Terry Karl argued that this oil wealth induced extraordinary corruption, rent-seeking, and centralized intervention that resulted in restricting productivity and growth. What this and other studies of Venezuela’s economy fail to explain, however, is how such conditions have accompanied both growth and stagnation at different periods of Venezuela’s history and why countries experiencing similar levels of corruption and rent-seeking produce divergent developmental outcomes. By investigating the record of economic development in Venezuela from 1920 to the present, Jonathan Di John shows that the key to explaining why the economy performed much better between 1920 and 1980 than in the post-1980 period is to understand how political strategies interacted with economic strategies—specifically, how politics determined state capacity at any given time and how the stage of development and development strategies affected the nature of political conflicts. In emphasizing the importance of an approach that looks at the political economy, not just at the economy alone, Di John advances the field methodologically while he contributes to a long-needed history of Venezuela’s economic performance in the twentieth century.

The Enduring Legacy

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Author : Miguel Tinker Salas
Publisher : Duke University Press
ISBN 13 : 0822392232
Total Pages : 344 pages
Book Rating : 4.8/5 (223 download)

Book Synopsis The Enduring Legacy by : Miguel Tinker Salas

Download or read book The Enduring Legacy written by Miguel Tinker Salas and published by Duke University Press. This book was released on 2009-05-11 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt: Oil has played a major role in Venezuela’s economy since the first gusher was discovered along Lake Maracaibo in 1922. As Miguel Tinker Salas demonstrates, oil has also transformed the country’s social, cultural, and political landscapes. In The Enduring Legacy, Tinker Salas traces the history of the oil industry’s rise in Venezuela from the beginning of the twentieth century, paying particular attention to the experiences and perceptions of industry employees, both foreign and Venezuelan. He reveals how class ambitions and corporate interests combined to reshape many Venezuelans’ ideas of citizenship. Middle-class Venezuelans embraced the oil industry from the start, anticipating that it would transform the country by introducing modern technology, sparking economic development, and breaking the landed elites’ stranglehold. Eventually Venezuelan employees of the industry found that their benefits, including relatively high salaries, fueled loyalty to the oil companies. That loyalty sometimes trumped allegiance to the nation-state. North American and British petroleum companies, seeking to maintain their stakes in Venezuela, promoted the idea that their interests were synonymous with national development. They set up oil camps—residential communities to house their workers—that brought Venezuelan employees together with workers from the United States and Britain, and eventually with Chinese, West Indian, and Mexican migrants as well. Through the camps, the companies offered not just housing but also schooling, leisure activities, and acculturation into a structured, corporate way of life. Tinker Salas contends that these practices shaped the heart and soul of generations of Venezuelans whom the industry provided with access to a middle-class lifestyle. His interest in how oil suffused the consciousness of Venezuela is personal: Tinker Salas was born and raised in one of its oil camps.

Economic Development of Venezuela

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Author : World Bank Publications
Publisher :
ISBN 13 : 9780801803017
Total Pages : 500 pages
Book Rating : 4.8/5 (3 download)

Book Synopsis Economic Development of Venezuela by : World Bank Publications

Download or read book Economic Development of Venezuela written by World Bank Publications and published by . This book was released on 1961-05-01 with total page 500 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Oil and Development in Venezuela during the 20th Century

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Author : Jorge Salazar-Carrillo
Publisher : Bloomsbury Publishing USA
ISBN 13 : 0313059519
Total Pages : 296 pages
Book Rating : 4.3/5 (13 download)

Book Synopsis Oil and Development in Venezuela during the 20th Century by : Jorge Salazar-Carrillo

Download or read book Oil and Development in Venezuela during the 20th Century written by Jorge Salazar-Carrillo and published by Bloomsbury Publishing USA. This book was released on 2004-05-30 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book advances the theory that a potential leading export sector—in this case, the oil sector—is capable of inducing economic growth even in peripheral countries where the product line is primary in nature. In Venezuela the oil sector has contributed directly and indirectly to the development of the country's overall economy, particularly from 1936 to 1973, when that sector met the criteria of a leading sector, i.e., one that expands rapidly and obtains a large specific size relative to the economy as a whole. Oil investment in Venezuela contributed to the fiscal sector, the foreign sector, GDP, income, backward and forward linkages, the multiplier and accelerator effects, and the retained value of total expenditures. In spite of recent efforts to diversify the production and export mix, the Venezuelan economy continues to remain heavily dependent on oil production for export. During the midcentury decades of solid growth, it became evident that government oversight was needed to ensure that the numerous contributions flowing from the oil sector would be put to good use. Overall, it appears that the contributions were well utilized by the Venezuelan government, although there was plenty of room for improvement. Income distribution problems and other social inequities continued to beset the development process, leaving the economy rigid and inflexible. Consequently, when the oil sector faltered (1974 to 2000), Venezuela was unable to shift into other product lines. Political disarray soon followed, and with it a pervasive aura of economic uncertainty that persists to this day.

The Economic Development of Venezuela

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Author : World Bank
Publisher :
ISBN 13 :
Total Pages : 504 pages
Book Rating : 4.A/5 ( download)

Book Synopsis The Economic Development of Venezuela by : World Bank

Download or read book The Economic Development of Venezuela written by World Bank and published by . This book was released on 1961 with total page 504 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Society and Economy in Venezuela

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Author : Vitor Eduardo Schincariol
Publisher : Springer Nature
ISBN 13 : 3030600831
Total Pages : 142 pages
Book Rating : 4.0/5 (36 download)

Book Synopsis Society and Economy in Venezuela by : Vitor Eduardo Schincariol

Download or read book Society and Economy in Venezuela written by Vitor Eduardo Schincariol and published by Springer Nature. This book was released on 2020-10-28 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents an overview of the economic policies adopted by the Bolivarian governments of Hugo Chávez and Nicolás Maduro in Venezuela between 1998 and 2018, and the economic and social results of these policies. The recent history of Venezuela has attracted much attention due to Chávez’s and Maduro’s self-declared search for socialism since the beginning of the 21st century and the economic trajectory of the country in this period, which experienced significant economic growth during the international oil boom in the first decade of the century, followed by a huge economic crisis in the second decade. The volume adopts an economic history approach, taking into account both economic and social variables to analyze the Venezuelan overall socio-economic performance since 1998. Drawing on official documents and statistics, as well as on the available literature, it presents an empirical analysis of Venezuelan economic and social histories during the Bolivarian period, describing and analyzing the achievements and limits of the policies adopted between 1998 and 2018. Society and Economy in Venezuela: An Overview of the Bolivarian Period (1998-2018) will be a useful introduction to sociologists, political economists, political scientists, economic historians and other social scientists interested in understanding the multiple interrelations between economy and society in Bolivarian Venezuela. “This book offers a thoughtful, committed and illuminating analysis of the socialist experiment in Venezuela. Its strengths and weaknesses are examined in unprecedented detail, in order to identify the drivers and limitation of 'socialism in the 21st century'. An essential work for scholars, students and citizens concerned with Venezuela.” – Alfredo Saad-Filho, King's College London

Regional Development Policy

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Author : John Friedmann
Publisher :
ISBN 13 :
Total Pages : 312 pages
Book Rating : 4.:/5 (43 download)

Book Synopsis Regional Development Policy by : John Friedmann

Download or read book Regional Development Policy written by John Friedmann and published by . This book was released on 1966 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Economic Development of Venezuela. Report of a Mission Organized by the International Bank for Reconstruction and Development at the Request of the Government of Venezuela. [With Maps.].

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Author : Mission to Venezuela (INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT)
Publisher :
ISBN 13 :
Total Pages : 494 pages
Book Rating : 4.:/5 (561 download)

Book Synopsis The Economic Development of Venezuela. Report of a Mission Organized by the International Bank for Reconstruction and Development at the Request of the Government of Venezuela. [With Maps.]. by : Mission to Venezuela (INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT)

Download or read book The Economic Development of Venezuela. Report of a Mission Organized by the International Bank for Reconstruction and Development at the Request of the Government of Venezuela. [With Maps.]. written by Mission to Venezuela (INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT) and published by . This book was released on 1961 with total page 494 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Dragon in the Tropics

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Author : Javier Corrales
Publisher : Rowman & Littlefield
ISBN 13 : 0815705026
Total Pages : 209 pages
Book Rating : 4.8/5 (157 download)

Book Synopsis Dragon in the Tropics by : Javier Corrales

Download or read book Dragon in the Tropics written by Javier Corrales and published by Rowman & Littlefield. This book was released on 2011-02-01 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since he was first elected in 1999, Venezuelan President Hugo Chávez Frías has reshaped a frail but nonetheless pluralistic democracy into a semi-authoritarian regime—an outcome achieved with spectacularly high oil income and widespread electoral support. This eye-opening book illuminates one of the most sweeping and unexpected political transformations in contemporary Latin America. Based on more than fifteen years' experience in researching and writing about Venezuela, Javier Corrales and Michael Penfold have crafted a comprehensive account of how the Chávez regime has revamped the nation, with a particular focus on its political transformation. Throughout, they take issue with conventional explanations. First, they argue persuasively that liberal democracy as an institution was not to blame for the rise of chavismo. Second, they assert that the nation's economic ailments were not caused by neoliberalism. Instead they blame other factors, including a dependence on oil, which caused macroeconomic volatility; political party fragmentation, which triggered infighting; government mismanagement of the banking crisis, which led to more centralization of power; and the Asian crisis of 1997, which devastated Venezuela's economy at the same time that Chávez ran for president. It is perhaps on the role of oil that the authors take greatest issue with prevailing opinion. They do not dispute that dependence on oil can generate political and economic distortions—the "resource curse" or "paradox of plenty" arguments—but they counter that oil alone fails to explain Chávez's rise. Instead they single out a weak framework of checks and balances that allowed the executive branch to extract oil rents and distribute them to the populace. The real culprit behind Chávez's success, they write, was the asymmetry of political power.

Financial Crisis Management and Democracy

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Author : Bettina De Souza Guilherme
Publisher : Springer Nature
ISBN 13 : 3030548953
Total Pages : 372 pages
Book Rating : 4.0/5 (35 download)

Book Synopsis Financial Crisis Management and Democracy by : Bettina De Souza Guilherme

Download or read book Financial Crisis Management and Democracy written by Bettina De Souza Guilherme and published by Springer Nature. This book was released on 2020-12-09 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: This open access book discusses financial crisis management and policy in Europe and Latin America, with a special focus on equity and democracy. Based on a three-year research project by the Jean Monnet Network, this volume takes an interdisciplinary, comparative approach, analyzing both the role and impact of the EU and regional organizations in Latin America on crisis management as well as the consequences of crisis on the process of European integration and on Latin America’s regionalism. The book begins with a theoretical introduction, exploring the effects of the paradigm change on economic policies in Europe and in Latin America and analyzing key systemic aspects of the unsustainability of the present economic system explaining the global crises and their interconnections. The following chapters are divided into sections. The second section explores aspects of regional governance and how the economic and financial crises were managed on a macro level in Europe and Latin America. The third and fourth sections use case studies to drill down to the impact of the crises at the national and regional levels, including the emergence of political polarization and rise in populism in both areas. The last section presents proposals for reform, including the transition from finance capitalism to a sustainable real capitalism in both regions and at the inter-regional level of EU-LAC relations.The volume concludes with an epilogue on financial crises, regionalism, and domestic adjustment by Loukas Tsoukalis, President of the Hellenic Foundation for European and Foreign Policy (ELIAMEP). Written by an international network of academics, practitioners and policy advisors, this volume will be of interest to researchers and students interested in macroeconomics, comparative regionalism, democracy, and financial crisis management as well as politicians, policy advisors, and members of national and regional organizations in the EU and Latin America.

Oil in the Economic Development of Venezuela

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Author : Jorge Salazar-Carrillo
Publisher : Greenwood
ISBN 13 :
Total Pages : 248 pages
Book Rating : 4.F/5 ( download)

Book Synopsis Oil in the Economic Development of Venezuela by : Jorge Salazar-Carrillo

Download or read book Oil in the Economic Development of Venezuela written by Jorge Salazar-Carrillo and published by Greenwood. This book was released on 1976 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: Monograph reviewing the potentiality of the petroleum industry in Venezuela as a leading sector in economic development - examines the contribution of petroleum investment and tax revenues over the period from 1936 to 1973. References and statistical tables.

Recent Developments in the Venezuelan Economy

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Author : Inter-American Economic and Social Council. Permanent Executive Committee
Publisher :
ISBN 13 :
Total Pages : 68 pages
Book Rating : 4.A/5 ( download)

Book Synopsis Recent Developments in the Venezuelan Economy by : Inter-American Economic and Social Council. Permanent Executive Committee

Download or read book Recent Developments in the Venezuelan Economy written by Inter-American Economic and Social Council. Permanent Executive Committee and published by . This book was released on 1975 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Potential GDP Growth in Venezuela

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Author : Mario A. Cuevas
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 28 pages
Book Rating : 4./5 ( download)

Book Synopsis Potential GDP Growth in Venezuela by : Mario A. Cuevas

Download or read book Potential GDP Growth in Venezuela written by Mario A. Cuevas and published by World Bank Publications. This book was released on 2002 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: Real GDP and oil prices are decomposed into common stochastic trend and cycle processes using structural time series models. Potential real GDP is represented by the level of the trend component of real GDP. The potential rate of growth of real GDP is represented by the stochastic drift element of the trend component. Cuevas finds that there is a strong association at the trend and cycle frequencies between real GDP and the real price of oil. This association is also robust in the presence of key economic policy variables. From 1970-80, when the underlying annual rate of increase of the real price of oil was 12 percent, the underlying annual rate of increase of potential GDP in Venezuela was 2.6 percent. By contrast, from 1981-2000 when the underlying rate of increase of the real price of oil was -5 percent, the underlying growth rate of potential GDP fell 1.5 percent. However, the strength of association between the underlying growth of oil prices and real GDP has fallen considerably since the early 1980s, suggesting that oil cannot be relied on as an engine for future growth in Venezuela. This paper"a product of the Colombia, Mexico, and Venezuela Country Management Unit, Latin America and the Caribbean Region"is part of a larger effort in the region to encourage research on macroeconomic issues. The author may be contacted at mcuevas@@worldbank.org.

Autocracy Rising

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Author : Javier Corrales
Publisher : Brookings Institution Press
ISBN 13 : 0815738080
Total Pages : 258 pages
Book Rating : 4.8/5 (157 download)

Book Synopsis Autocracy Rising by : Javier Corrales

Download or read book Autocracy Rising written by Javier Corrales and published by Brookings Institution Press. This book was released on 2023-02-06 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: How Nicolás Maduro reinvented authoritarianism for the twenty-first centurVenezuela, which once enjoyed periods of democratically elected governments in the latter half of the twentieth century, has descended into autocratic rule, coupled with economic collapse. In his new book, Autocracy Rising, veteran scholar of Latin American politics Javier Corrales explores how and why this happened. Corrales focuses on two themes: party systems and institutional capacity. He argues that Venezuela’s democratic backsliding advanced when the ruling party obtained far too much electoral clout while the opposition fragmented. The state then took control of formerly independent agencies of the state. This allowed the ruling party to use and abuse of the law to favor the president—which in turn generated a permanent economic crisis. After succeeding Hugo Chávez in 2013, Nicolás Maduro confronted, unexpectedly, another change in the party system: a rising opposition. This triggered deeper autocratization. To survive, the state was compelled to modernize autocratic practices and seek alliances with sinister partners. In short, Maduro concentrated power, paradoxically, by sharing power. Autocracy Rising compares what occurred in Venezuela to twenty other cases throughout Latin America where presidents were forced out of office. Corrales illuminates the depressing cycle in which semi-authoritarian regimes become increasingly autocratic in response to crisis, only to cause new crises that lead to even greater authoritarianism.

Crude Nation

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Author : Ral Gallegos
Publisher : U of Nebraska Press
ISBN 13 : 1612347703
Total Pages : 254 pages
Book Rating : 4.6/5 (123 download)

Book Synopsis Crude Nation by : Ral Gallegos

Download or read book Crude Nation written by Ral Gallegos and published by U of Nebraska Press. This book was released on 2016-10-01 with total page 254 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Crude Nation tells the story of how ruinous mismanagement has resulted in the economic implosion of Venezuela, the country with the largest oil reserves in the world"--