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A Venezuelan Paradox: The Prospects for Attracting (or Repatriating) Foreign Investment

In: Foreign Investment, Debt and Economic Growth in Latin America

Author

Listed:
  • Henry Gomez-Samper
  • Julian Villalba

Abstract

Venezuela’s handsome income from oil exports, a comparatively small population, and freedom from exchange controls have generated something of a paradox. Although it has amassed a huge foreign debt of $33 billion that will tend to absorb a significant share of future foreign exchange earnings, Venezuelan private holdings abroad are estimated to be $34 billion, thus exceeding the value of the nation’s foreign debt. Hence a key factor influencing the prospect for restoring Venezuelan economic growth in the mid-1980s is the extent to which foreign-based savings can be repatriated, and/or new investments can be attracted from abroad.

Suggested Citation

  • Henry Gomez-Samper & Julian Villalba, 1988. "A Venezuelan Paradox: The Prospects for Attracting (or Repatriating) Foreign Investment," Palgrave Macmillan Books, in: Antonio Jorge & Jorge Salazar-Carrillo (ed.), Foreign Investment, Debt and Economic Growth in Latin America, chapter 14, pages 189-194, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-08311-4_14
    DOI: 10.1007/978-1-349-08311-4_14
    as

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