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The economic determinants of Venezuela’s hunger crisis

Author

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  • Rodriguez, Francisco

Abstract

This paper argues that Venezuela’s hunger crisis was caused by the collapse of the country’s import capacity. I show evidence supporting the hypothesis that the key driver of the decrease in caloric intake was the decline of more than nine-tenths in oil revenues, which sparked an economic contraction and forced the economy to undertake massive cuts in imports of food and agricultural inputs. Econometric estimates using cross-national panel data show that Venezuela’s performance in health and nutrition indicators is in line with, and in many cases significantly better, than what we should expect given the magnitude of its contraction in per capita incomes over the past two decades.

Suggested Citation

  • Rodriguez, Francisco, 2022. "The economic determinants of Venezuela’s hunger crisis," MPRA Paper 113669, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:113669
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    File URL: https://mpra.ub.uni-muenchen.de/113669/1/Economic%20determinants%20of%20Venezuela%27s%20hunger%20crisis.pdf
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    More about this item

    Keywords

    Venezuela; Food policies; Economic crises;
    All these keywords.

    JEL classification:

    • I15 - Health, Education, and Welfare - - Health - - - Health and Economic Development
    • I38 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Government Programs; Provision and Effects of Welfare Programs
    • O54 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Latin America; Caribbean

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