World Economics - Insight , Analysis and Data
World Economics Journal
Crime & corruption
Economic indicators and forecasting
Gross Domestic Product (GDP)
Savings and debt
Exchange Rate Policy
Labour Market Reform
Law and Justice
Food and Agriculture
Media, Sport and Entertainment
Retail and Consumer Goods
World Economics Journal Archive
Browse the complete World Economics Journal archive.
World Economics Authors
Biographies and contact details for all authors.
Full list of executive editors and our advisory board
Submit an Article
Details and notes for authors regarding journal submissions.
Journal Subscription Information
Subscribe to the journal online.
About World Economics
History and information about the site.
Useful numbers and contact details.
Terms & Conditions
Economic Growth in Venezuela
World Economics, September 2010
This paper presents an empirical analysis of Venezuela’s economic growth in the last several decades, providing possible explanations for the country’s weak performance relative to its peers. First, a growth accounting exercise uncovers a long, negative trend in total factor productivity from the late 1970s through the early 2000s. This trend was also accompanied by a declining ratio of capital stock per worker, attributable to an earlier period of misguided policies that favoured excessive accumulation of physical capital to the detriment of human capital and economic efficiency. Second, empirical tests suggest that Venezuela’s economic growth has been highly and increasingly dependent on oil revenues. Finally, econometric estimates indicate that lax fiscal policies and macroeconomic instability have had a negative impact on growth.
Total factor productivity
Measuring The Americas GDP
World Economics, March 2015
Measuring Latin America
World Economics, March 2014
The Argentine Productivity Slowdown
World Economics, September 2011
Keep updated with:
Posts from Facebook
Tweets from Twitter
Groups on LinkedIn
Alerts from RSS feed
Copyright World Economics Ltd. 2017