A Venezuelan Paradox: The Prospects for Attracting (or Repatriating) Foreign Investment

Henry Gomez-Samper and Julian Villalba

Chapter 14 in Foreign Investment, Debt and Economic Growth in Latin America, 1988, pp 189-194 from Palgrave Macmillan

Abstract: Abstract Venezuela’s handsome income from oil exports, a comparatively small population, and freedom from exchange controls have generated something of a paradox. Although it has amassed a huge foreign debt of $33 billion that will tend to absorb a significant share of future foreign exchange earnings, Venezuelan private holdings abroad are estimated to be $34 billion, thus exceeding the value of the nation’s foreign debt. Hence a key factor influencing the prospect for restoring Venezuelan economic growth in the mid-1980s is the extent to which foreign-based savings can be repatriated, and/or new investments can be attracted from abroad.

Keywords: Foreign Investment; Private Saving; Foreign Debt; Capital Outflow; Investor Confidence (search for similar items in EconPapers)
Date: 1988
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-08311-4_14

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DOI: 10.1007/978-1-349-08311-4_14

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