Oil In The Economic Development Of Venezuela

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Oil and Development in Venezuela during the 20th Century

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

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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.

Oil in the Economic Development of Venezuela

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

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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.

The Enduring Legacy

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

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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.

Venezuela Before Chávez

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

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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.

Oil and Development in Venezuela During the Twentieth Century

Author : Jorge Salazar-Carrillo
Publisher : Praeger
ISBN 13 :
Total Pages : 304 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Oil and Development in Venezuela During the Twentieth Century by : Jorge Salazar-Carrillo

Download or read book Oil and Development in Venezuela During the Twentieth Century written by Jorge Salazar-Carrillo and published by Praeger. This book was released on 1994-05-30 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: For review see: Juan Carlos Boué, in Journal of Latin American Studies, vol. 27, prt. 3 (October 1995); p. 739.

From Windfall to Curse?

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

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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.

Crude Nation

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

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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"--

The Rise and Fall of the Oil Nation Venezuela

Author : Carlos A. Rossi
Publisher : Springer Nature
ISBN 13 : 3031346602
Total Pages : 574 pages
Book Rating : 4.0/5 (313 download)

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Book Synopsis The Rise and Fall of the Oil Nation Venezuela by : Carlos A. Rossi

Download or read book The Rise and Fall of the Oil Nation Venezuela written by Carlos A. Rossi and published by Springer Nature. This book was released on 2023-12-28 with total page 574 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explains why Venezuela is so rich in natural resources—it has been producing oil since 1922 and harbors the largest oil reserves in the world—and yet it is also a failed nation of class-divided citizens exhibiting deep poverty in a corrupt, incompetent state. Venezuela is a bipolar nation, where two marked poles in the society exist which have historical origins and are mutually exclusive. The book provides a critical analysis of Venezuela's history, economy and politics and explains the context and implications of the bipolar poles, known as the elite pole and the resentful pole. Both, it shows, have done serious harm to Venezuela’s prosperity. The author describes the vicious circle of oil wealth, corruption, inefficiency and world market dependency and gives recommendations for a better future.

Oil Industry in Venezuela

Author : M. A. Sposito Lauro
Publisher :
ISBN 13 :
Total Pages : 22 pages
Book Rating : 4.:/5 (477 download)

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Book Synopsis Oil Industry in Venezuela by : M. A. Sposito Lauro

Download or read book Oil Industry in Venezuela written by M. A. Sposito Lauro and published by . This book was released on 1973 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Political and Economic Problems of the Venezuelan Petroleum Industry

Author : Mariano M. Gurfinkel
Publisher :
ISBN 13 :
Total Pages : 242 pages
Book Rating : 4.:/5 (29 download)

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Book Synopsis Political and Economic Problems of the Venezuelan Petroleum Industry by : Mariano M. Gurfinkel

Download or read book Political and Economic Problems of the Venezuelan Petroleum Industry written by Mariano M. Gurfinkel and published by . This book was released on 1958 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Chronology of Venezuelan Oil

Author : Anibal R. Martinez
Publisher : Taylor & Francis
ISBN 13 : 1000966410
Total Pages : 195 pages
Book Rating : 4.0/5 (9 download)

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Book Synopsis Chronology of Venezuelan Oil by : Anibal R. Martinez

Download or read book Chronology of Venezuelan Oil written by Anibal R. Martinez and published by Taylor & Francis. This book was released on 2023-10-11 with total page 195 pages. Available in PDF, EPUB and Kindle. Book excerpt: Chronology of Venezuelan Oil (1969) covers all aspects of the Venezuelan petroleum industry’s historical evolution: technical, legal, economic, social and political to create a reference source for scholars, teachers, executives, professionals and technicians, as well as students of the industry.

Venezuela. Economic Structure, Economic Policy and International Economic Relations

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

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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.

Oil Revenues, Distributional Coalitions, and Economic Development

Author : José Amado Gil Ravelo
Publisher :
ISBN 13 :
Total Pages : 288 pages
Book Rating : 4.:/5 (227 download)

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Book Synopsis Oil Revenues, Distributional Coalitions, and Economic Development by : José Amado Gil Ravelo

Download or read book Oil Revenues, Distributional Coalitions, and Economic Development written by José Amado Gil Ravelo and published by . This book was released on 1990 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Potential GDP Growth in Venezuela

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

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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.

Venezuelan Economic Development

Author : Robert Loring Allen
Publisher : Greenwich, Conn. : Jai Press
ISBN 13 :
Total Pages : 352 pages
Book Rating : 4.:/5 (321 download)

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Book Synopsis Venezuelan Economic Development by : Robert Loring Allen

Download or read book Venezuelan Economic Development written by Robert Loring Allen and published by Greenwich, Conn. : Jai Press. This book was released on 1977 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: Monograph on economic development in Venezuela between 1935 and 1975 - gives special consideration to petroleum policy and to the role of petroleum resources in economic growth, discusses the impact of the political system of Venezuela on economic development, and covers the public sector, human resources, money supply and banking, trade, the agricultural sector, the industrial sector, etc. Bibliography pp. 259 to 267, references and statistical tables.

Oil, the Making of a New Economic Order

Author : Luis Vallenilla
Publisher : McGraw-Hill Companies
ISBN 13 :
Total Pages : 326 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Oil, the Making of a New Economic Order by : Luis Vallenilla

Download or read book Oil, the Making of a New Economic Order written by Luis Vallenilla and published by McGraw-Hill Companies. This book was released on 1975 with total page 326 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Venezuela

Author : Juan Carlos Boué
Publisher :
ISBN 13 :
Total Pages : 252 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Venezuela by : Juan Carlos Boué

Download or read book Venezuela written by Juan Carlos Boué and published by . This book was released on 1993 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first book in a new series on oil exporting countries, Venezuela: the Political Economy of Oil is indispensable for all observers of the world oil market. As the founding member of OPEC, Venezuela continues to hold a central position in the world petroleum market. Its national oil company, PdVSA, the third largest oil company in the world, is pursuing a revolutionary policy of external acquisitions in developed countries. At the same time, there are early signs of a shift in its attitudes towards allowing foreign investment. This study provides a comprehensive and masterly analysis of the Venezuelan oil industry within the context of the political economy of the country. In particular, Boue considers the potential reserves of the Orinco Oil Basin, the environmental challenges facing Venezuela's oil industry, and the uncertain future of orimulsion, a possibly revolutionary new fuel. In light of two attempted military coups in 1992, this study assesses the prospects for the Venezuelan oil industry in the near and longer-term future.