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Determinants of inflation in Venezuela. 1960-1980

Author

Listed:
  • Ismael Ortiz

    (Universidad de Los Andes, Facultad de Economía)

Abstract

A mediados de los años setenta se produjo un fuerte incremento en los ingresos provenientes de la explotación petrolera en Venezuela debido, como se sabe, al crecimiento en los precios del crudo. Esto condujo a un redimensionamiento de una serie de variables macroeconómicas, afectadas por las decisiones del gobierno, cuyo efecto inmediato fue un pronunciado crecimiento en los precios. Esta relación entre ambos hechos, crecimiento en el ingreso petrolero y crecimiento en los precios, hizo que las primeras explicaciones sobre este “visitante” desconocido para la mayoría de los venezolanos, como lo era para aquel entonces la inflación, tuvieran mucho que ver con la conducta del gasto público.

Suggested Citation

  • Ismael Ortiz, 1987. "Determinants of inflation in Venezuela. 1960-1980," Economía, Instituto de Investigaciones Económicas y Sociales (IIES). Facultad de Ciencias Económicas y Sociales. Universidad de Los Andes. Mérida, Venezuela, vol. 12(1), pages 67-106, January-D.
    • Handle: RePEc:ula:econom:v:12:y:1987:i:1:p:67-106
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    More about this item

    Keywords

    Gasto público; variables macroeconómicas; inflación.;
    All these keywords.

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation

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