Biblioteca Digital de VanguardiaUnderstanding venezuelan economy : oil and foreign dependence (1960-2017).
This article analyzes the aggregate production, considering the demand and the supply axes within Venezuelan economy. Depending on the availability of data, different sources are used for the period 1960 and 2017. It is evident that the economic crisis has structural causes, where there is an underl...
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| Formato: | Revistas |
| Lenguaje: | Español |
| Publicado: |
Universidad de Cartagena
2020
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| Acceso en línea: | https://revistas.unicartagena.edu.co/index.php/panoramaeconomico/article/view/2697 |
| _version_ | 1782340339662585856 |
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| author | Palomino Arias, Medardo Alfonso |
| author_facet | Palomino Arias, Medardo Alfonso |
| author_sort | Palomino Arias, Medardo Alfonso |
| collection | Revista |
| description | This article analyzes the aggregate production, considering the demand and the supply axes within Venezuelan economy. Depending on the availability of data, different sources are used for the period 1960 and 2017. It is evident that the economic crisis has structural causes, where there is an underlying external sector that imposes limits on economic growth. During the Bolivarian Revolution, Venezuelan economy has been characterized by growing based on consumption and exports. On the other hand, its investment showed a strong dependence on imports which, in turn, depend on the mono-exports of oil. Therefore, the model based on internal consumption is exhausted, in the absence of changes in the productive structure that allow replacing oil revenues. |
| format | Revistas |
| id | oai:revistas.unicartagena.edu.co:article-2697 |
| institution | Revista Panorama Económico |
| language | Español |
| publishDate | 2020 |
| publisher | Universidad de Cartagena |
| record_format | ojs |
| spelling | oai:revistas.unicartagena.edu.co:article-26972021-10-25T17:31:33Z Understanding venezuelan economy : oil and foreign dependence (1960-2017). Comprendiendo la economía venezolana : petróleo y dependencia externa (1960-2017). Palomino Arias, Medardo Alfonso Macroeconomics Economic growth Oil dependency Macroeconomía Crecimiento económico Dependencia petrolera This article analyzes the aggregate production, considering the demand and the supply axes within Venezuelan economy. Depending on the availability of data, different sources are used for the period 1960 and 2017. It is evident that the economic crisis has structural causes, where there is an underlying external sector that imposes limits on economic growth. During the Bolivarian Revolution, Venezuelan economy has been characterized by growing based on consumption and exports. On the other hand, its investment showed a strong dependence on imports which, in turn, depend on the mono-exports of oil. Therefore, the model based on internal consumption is exhausted, in the absence of changes in the productive structure that allow replacing oil revenues. El presente artículo examina la economía venezolana a través del análisis del producto agregado, por el lado de la demanda y por el lado de la oferta. En función de la disponibilidad de datos, se emplean distintas fuentes en un horizonte temporal variable, que oscila entre 1960 y 2017. Se evidencia que la crisis económica tiene causas estructurales, donde subyace un sector externo que impone límites al crecimiento económico. Durante la Revolución Bolivariana, la economía venezolana se ha caracteriza por crecer con base al consumo y las exportaciones. Por otro lado, su inversión mostró una fuerte dependencia de las importaciones que, a su vez, dependen de la mono-exportación de petróleo. Por tanto, el modelo basado en el consumo interno se agota, ante la ausencia de cambios en la estructura productiva que permitan sustituir la renta petrolera. Universidad de Cartagena 2020-07-01 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion application/pdf https://revistas.unicartagena.edu.co/index.php/panoramaeconomico/article/view/2697 10.32997/pe-2020-2697 Panorama Económico Journal; Vol. 28 No. 3 (2020); 143-158 Panorama Económico; Vol. 28 Núm. 3 (2020); 143-158 Panorama Económico; v. 28 n. 3 (2020); 143-158 2463-0470 0122-8900 10.32997/pe-2020 spa https://revistas.unicartagena.edu.co/index.php/panoramaeconomico/article/view/2697/2259 /*ref*/Ancori, Bernard., Bureth, Antoine., y Cohendet, Patrick. (2000). The Economics of Knowledge: The Debate about Codification and Tacit Knowledge. En: Industrial and Corporate Change, p. 255-287. https://doi.org/10.1093/icc/9.2.255 /*ref*/Atlas of Economic Complexity. 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| spellingShingle | Palomino Arias, Medardo Alfonso Understanding venezuelan economy : oil and foreign dependence (1960-2017). |
| title | Understanding venezuelan economy : oil and foreign dependence (1960-2017). |
| title_full | Understanding venezuelan economy : oil and foreign dependence (1960-2017). |
| title_fullStr | Understanding venezuelan economy : oil and foreign dependence (1960-2017). |
| title_full_unstemmed | Understanding venezuelan economy : oil and foreign dependence (1960-2017). |
| title_short | Understanding venezuelan economy : oil and foreign dependence (1960-2017). |
| title_sort | understanding venezuelan economy : oil and foreign dependence (1960-2017). |
| url | https://revistas.unicartagena.edu.co/index.php/panoramaeconomico/article/view/2697 |