Nonmarket Strategy in Venezuela

John A. Parnell
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John A. Parnell: University of North Carolina at Pembroke

Chapter Chapter 8 in Nonmarket Strategy in Business Organizations, 2019, pp 87-97 from Springer

Abstract: Abstract Once a resource-rich nation with a strong cultural identity, Venezuela seemed poised to compete with the world’s most prolific economic powers in the global economy. But the election of Hugo Chávez in 1998 initiated an erosion of the nation’s democratic institutions. Many of the nation’s industries have since been nationalized, and Venezuela is now mired in the worst economic contraction ever recorded. Official statistics suggest a 4.2% annual economic decline compounded over the last 5 years and inflation of at least 254%. Internal economic data is unreliable at best and fraudulent at worst; anecdotal evidence suggests that the situation is much worse, with documented severe shortages in the supply of food and other basic goods (Miller et al. 2018). Mid-2018 estimates suggested an annual inflation rate in excess of 10,000%.

Keywords: Nonmarket Strategy; Strong Cultural Identity; Internal Economic Data; Venezuelan Data; Substantial Driver (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-319-93242-2_8

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DOI: 10.1007/978-3-319-93242-2_8

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