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Update on the Venezuelan Economy

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Author Info

  • Mark Weisbrot
  • Rebecca Ray

Abstract

This paper examines recent economic data, including the most recent data released the third week of August 2010, in an attempt to evaluate the Venezuelan economy's prospects in the foreseeable future. It finds that the Venezuelan economy, which went into recession in the first quarter of 2009 after six years of record economic growth, is now most likely in recovery, and that the 2009 recession has probably ended. This is based on seasonally adjusted quarterly data, which show that the Venezuelan economy grew by an estimated 5.2 percent in the second quarter of 2010, on an annualized basis. The paper then considers possibilities and arguments that the Venezuelan economy will remain mired in recession or stagnation, and/or is doomed to long term decline. It finds that although there are a number of analysts who are predicting that the Venezuelan economy is on the verge of inevitable (and long-anticipated) ruin, there is nothing in the recent data – or that of the last decade – to indicate that this is true.

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File URL: http://www.cepr.net/documents/publications/venezuela-2010-09.pdf
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Bibliographic Info

Paper provided by Center for Economic and Policy Research (CEPR) in its series CEPR Reports and Issue Briefs with number 2010-20.

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Length: 19 pages
Date of creation: Sep 2010
Date of revision:
Handle: RePEc:epo:papers:2010-20

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Related research

Keywords: venezuela; foreign exchange; economy;

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References

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  1. Mark Weisbrot & Rebecca Ray & Luis Sandoval, 2009. "The Chávez Administration at 10 Years: The Economy and Social Indicators," CEPR Reports and Issue Briefs 2009-04, Center for Economic and Policy Research (CEPR).
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Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Pistola de aluguel
    by "O" Anonimo in A Mão Visível on 2010-09-21 18:28:00
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Cited by:
  1. Özgür Orhangazi, 2011. "Contours of Alternative Policy Making in Venezuela," Working Papers wp275, Political Economy Research Institute, University of Massachusetts at Amherst.

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