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Venezuela: limites para uma nova política econômica

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  • Cano, Wilson

Abstract

The text summarises the macroeconomics oscillations and difficulties of an economy where petroleum represents 75% of total exports and of total tax revenue and about 28% of the GDP. It briefly presents Venezuela´s economy in 2 periods: 1st - 1970/88, the end of the development period and the beginning of neoliberal policies; 2nd - when neoliberal policies were letting off steam. The 3rd section of the article focuses on the macroeconomic adjustments carried out in the second period and the implemented neoliberal reforms. Section 4 retreats the trap in which freshly empowered Hugo Chavez (Feb´ 1999) has fallen, when he had no choice other than accepting the agreement with the IMF; the implementation of important constitutional reforms promised during his campaign and the explosion of conflicts which came along with them. It also questions if there´s still possibilities of changing direction of such economic policies. The text was ended in September´ 2002, just before the rising demonstrations and riots that took over Venezuela after October´ 2002.

Suggested Citation

  • Cano, Wilson, 2002. "Venezuela: limites para uma nova política econômica," Revista Economia e Sociedade, Instituto de Economia, Universidade Estadual de Campinas (UNICAMP), vol. 18, pages 1-33, January.
  • Handle: RePEc:euc:ancoec:v:18:y:2002:p:95-127
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    More about this item

    Keywords

    Venezuela; Petroleum economy; Anti-neoliberal reforms; Neoliberalism and crisis.;

    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O54 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Latin America; Caribbean

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