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The Venezuelan State intervention in Economy (1936-2016), scope and limits

Author

Listed:
  • Alberto David Martínez Castillo

    (Doctor en Ciencia Política y Economista. Departamento de Ciencias Económicas y Administrativas de la Universidad Simón Bolívar, Caracas, Venezuela. Teléfono 58-212-9063770.)

Abstract

The following article pretends to analyze the intervention of the Venezuelan State in the field of economy and its eff ects on economic growth. The study covers the time span from the approval of the constitution in 1811 until the present day. The main conclusion is that oil exploitation in Venezuela provided resources that facilitated the intervention of the State in order to motivate economic growth. However, from 1974 onwards, the abundance of oil resources was used to forge a predatory State, it shunned away private sectors and lead the country towards an economic social crisis that was never seen before.

Suggested Citation

  • Alberto David Martínez Castillo, 2017. "The Venezuelan State intervention in Economy (1936-2016), scope and limits," Economía, Instituto de Investigaciones Económicas y Sociales (IIES). Facultad de Ciencias Económicas y Sociales. Universidad de Los Andes. Mérida, Venezuela, vol. 42(43), pages 113-139, January-J.
    • Handle: RePEc:ula:econom:v:42:y:2017:i:43:p:113-139
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    More about this item

    Keywords

    Economic history; State; State-entrepreneur relationship; petroleum.;
    All these keywords.

    JEL classification:

    • H11 - Public Economics - - Structure and Scope of Government - - - Structure and Scope of Government
    • H50 - Public Economics - - National Government Expenditures and Related Policies - - - General
    • N16 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Latin America; Caribbean
    • N46 - Economic History - - Government, War, Law, International Relations, and Regulation - - - Latin America; Caribbean

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