La economía venezolana en el siglo XX

Pablo Astorga

Revista de Historia Económica / Journal of Iberian and Latin American Economic History, 2003, vol. 21, issue 3, 623-653

Abstract: This paper studies the process of economic development in Venezuela from a regional perspective. Oil wealth has given the country a unique opportunity to expand its productive capacity and improve the living standards. However, the country has experienced a drastic deterioration of its economy and institutions in recent times. The paper begins with a comparison based on welfare indicators. Then, it explores the economic implications of commodities and establishes parallels with the export booms of copper and nitrate in Chile and rubber in the Amazon region. Next, it analyses the impact of the Great Depression and the industrialisation strategy. Finally, a set of conclusions is presented.

Date: 2003
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