Oil And Development In Venezuela During The 20th Century

Author : Jorge Salazar-Carrillo
Publisher : Bloomsbury Publishing USA
ISBN 13 : 0313059519
Total Pages : 296 pages
Book Rating : 4.13/5 ( download)

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Download or read book Oil and Development in Venezuela during the 20th Century written by Jorge Salazar-Carrillo and published by Bloomsbury Publishing USA. This book was released on 2004-05-30 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book advances the theory that a potential leading export sector—in this case, the oil sector—is capable of inducing economic growth even in peripheral countries where the product line is primary in nature. In Venezuela the oil sector has contributed directly and indirectly to the development of the country's overall economy, particularly from 1936 to 1973, when that sector met the criteria of a leading sector, i.e., one that expands rapidly and obtains a large specific size relative to the economy as a whole. Oil investment in Venezuela contributed to the fiscal sector, the foreign sector, GDP, income, backward and forward linkages, the multiplier and accelerator effects, and the retained value of total expenditures. In spite of recent efforts to diversify the production and export mix, the Venezuelan economy continues to remain heavily dependent on oil production for export. During the midcentury decades of solid growth, it became evident that government oversight was needed to ensure that the numerous contributions flowing from the oil sector would be put to good use. Overall, it appears that the contributions were well utilized by the Venezuelan government, although there was plenty of room for improvement. Income distribution problems and other social inequities continued to beset the development process, leaving the economy rigid and inflexible. Consequently, when the oil sector faltered (1974 to 2000), Venezuela was unable to shift into other product lines. Political disarray soon followed, and with it a pervasive aura of economic uncertainty that persists to this day.

Author : Jorge Salazar-Carrillo
Publisher : Praeger
ISBN 13 :
Total Pages : 304 pages
Book Rating : 4.09/5 ( download)

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Download or read book Oil and Development in Venezuela During the Twentieth Century written by Jorge Salazar-Carrillo and published by Praeger. This book was released on 1994-05-30 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: For review see: Juan Carlos Boué, in Journal of Latin American Studies, vol. 27, prt. 3 (October 1995); p. 739.

Author : Ricardo Hausmann
Publisher : Penn State Press
ISBN 13 : 0271064641
Total Pages : 549 pages
Book Rating : 4.42/5 ( download)

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Download or read book Venezuela Before Chávez written by Ricardo Hausmann and published by Penn State Press. This book was released on 2015-06-13 with total page 549 pages. Available in PDF, EPUB and Kindle. Book excerpt: At the beginning of the twentieth century, Venezuela had one of the poorest economies in Latin America, but by 1970 it had become the richest country in the region and one of the twenty richest countries in the world, ahead of countries such as Greece, Israel, and Spain. Between 1978 and 2001, however, Venezuela’s economy went sharply in reverse, with non-oil GDP declining by almost 19 percent and oil GDP by an astonishing 65 percent. What accounts for this drastic turnabout? The editors of Venezuela Before Chávez, who each played a policymaking role in the country’s economy during the past two decades, have brought together a group of economists and political scientists to examine systematically the impact of a wide range of factors affecting the economy’s collapse, from the cost of labor regulation and the development of financial markets to the weakening of democratic governance and the politics of decisions about industrial policy. Aside from the editors, the contributors are Omar Bello, Adriana Bermúdez, Matías Braun, Javier Corrales, Jonathan Di John, Rafael Di Tella, Javier Donna, Samuel Freije, Dan Levy, Robert MacCulloch, Osmel Manzano, Francisco Monaldi, María Antonia Moreno, Daniel Ortega, Michael Penfold, José Pineda, Lant Pritchett, Cameron A. Shelton, and Dean Yang.

Author : Miguel Tinker Salas
Publisher : Duke University Press
ISBN 13 : 0822392232
Total Pages : 344 pages
Book Rating : 4.31/5 ( download)

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Download or read book The Enduring Legacy written by Miguel Tinker Salas and published by Duke University Press. This book was released on 2009-05-11 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt: Oil has played a major role in Venezuela’s economy since the first gusher was discovered along Lake Maracaibo in 1922. As Miguel Tinker Salas demonstrates, oil has also transformed the country’s social, cultural, and political landscapes. In The Enduring Legacy, Tinker Salas traces the history of the oil industry’s rise in Venezuela from the beginning of the twentieth century, paying particular attention to the experiences and perceptions of industry employees, both foreign and Venezuelan. He reveals how class ambitions and corporate interests combined to reshape many Venezuelans’ ideas of citizenship. Middle-class Venezuelans embraced the oil industry from the start, anticipating that it would transform the country by introducing modern technology, sparking economic development, and breaking the landed elites’ stranglehold. Eventually Venezuelan employees of the industry found that their benefits, including relatively high salaries, fueled loyalty to the oil companies. That loyalty sometimes trumped allegiance to the nation-state. North American and British petroleum companies, seeking to maintain their stakes in Venezuela, promoted the idea that their interests were synonymous with national development. They set up oil camps—residential communities to house their workers—that brought Venezuelan employees together with workers from the United States and Britain, and eventually with Chinese, West Indian, and Mexican migrants as well. Through the camps, the companies offered not just housing but also schooling, leisure activities, and acculturation into a structured, corporate way of life. Tinker Salas contends that these practices shaped the heart and soul of generations of Venezuelans whom the industry provided with access to a middle-class lifestyle. His interest in how oil suffused the consciousness of Venezuela is personal: Tinker Salas was born and raised in one of its oil camps.

Author : Jonathan Di John
Publisher : Penn State Press
ISBN 13 : 0271076909
Total Pages : 215 pages
Book Rating : 4.04/5 ( download)

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Download or read book From Windfall to Curse? written by Jonathan Di John and published by Penn State Press. This book was released on 2015-12-21 with total page 215 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the discovery of abundant oil resources in the 1920s, Venezuela has had an economically privileged position among the nations of Latin America, which has led to its being treated by economic and political analysts as an exceptional case. In her well-known study of Venezuela’s political economy, The Paradox of Plenty (1997), Stanford political scientist Terry Karl argued that this oil wealth induced extraordinary corruption, rent-seeking, and centralized intervention that resulted in restricting productivity and growth. What this and other studies of Venezuela’s economy fail to explain, however, is how such conditions have accompanied both growth and stagnation at different periods of Venezuela’s history and why countries experiencing similar levels of corruption and rent-seeking produce divergent developmental outcomes. By investigating the record of economic development in Venezuela from 1920 to the present, Jonathan Di John shows that the key to explaining why the economy performed much better between 1920 and 1980 than in the post-1980 period is to understand how political strategies interacted with economic strategies—specifically, how politics determined state capacity at any given time and how the stage of development and development strategies affected the nature of political conflicts. In emphasizing the importance of an approach that looks at the political economy, not just at the economy alone, Di John advances the field methodologically while he contributes to a long-needed history of Venezuela’s economic performance in the twentieth century.

Author : Jorge Olavarría
Publisher :
ISBN 13 :
Total Pages : 144 pages
Book Rating : 4.24/5 ( download)

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Download or read book The Venezuela Effect written by Jorge Olavarría and published by . This book was released on 1981 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : Giuliano Garavini
Publisher : Oxford University Press, USA
ISBN 13 : 0198832834
Total Pages : 445 pages
Book Rating : 4.36/5 ( download)

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Download or read book The Rise and Fall of OPEC in the Twentieth Century written by Giuliano Garavini and published by Oxford University Press, USA. This book was released on 2019 with total page 445 pages. Available in PDF, EPUB and Kindle. Book excerpt: The most comprehensive history of the Organization of the Petroleum Exporting Countries (OPEC) and of its members, this study takes the reader from the formation of the first petrostate in the world, Venezuela, in the late 1920s, to the global ascent of petrostates and OPEC during the 1970s, to their crisis in the late-1980s and early- 1990s.

Author : Iselin Åsedotter Strønen
Publisher : Springer
ISBN 13 : 3319595075
Total Pages : 368 pages
Book Rating : 4.78/5 ( download)

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Download or read book Grassroots Politics and Oil Culture in Venezuela written by Iselin Åsedotter Strønen and published by Springer. This book was released on 2017-09-01 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is published open access under a CC BY 4.0 license. This book presents an ethnographic study of how grassroots activism in Venezuela during the Chávez presidency can be understood in relation to the country's history as a petro-state. Taking the contested relationship between the popular sectors and the Venezuelan state as a point of departure, Iselin Åsedotter Strønen explores how notions such as class, race, state, bureaucracy, popular politics, capitalism, neoliberalism, consumption, oil wealth, and corruption gained salience in the Bolivarian process. A central argument is that the Bolivarian process was an attempt to challenge the practices, ideas, and values inherited from Venezuela's historical development as an oil-producing state. Drawing on rich ethnographic material from Caracas' shantytowns, state institutions, as well as everyday life and public culture, Strønen explores the complexities and challenges in fostering deep social and political change.

Author :
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.93/5 ( download)

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Download or read book Records of the Department of State Relating to Political Relations Between the United States and Venezuela, 1945-1959 written by and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Arguably, Venezuela's 20th century history has been most notably impacted by the discovery and exploitation of its petroleum reserves. Foreign investment in development of the oil fields led to great wealth for foreign investors, the Venezuelan government, and those individuals to whom the government granted concessions. Covering primarily the early Cold War documents, this collection gives researchers a unique insight into American foreign policy during one of its most stressful periods in international relations. After World War II, with only two superpowers vying for influence, access, and control, the United States looked to its state department to provide detailed analyses and insight into political affairs. As such these records are bound to be of great interest to diplomatic historians and historians studying these countries, seeking to understand American foreign affairs during this period.

Author : Bettina De Souza Guilherme
Publisher : Springer Nature
ISBN 13 : 3030548953
Total Pages : 372 pages
Book Rating : 4.57/5 ( download)

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Download or read book Financial Crisis Management and Democracy written by Bettina De Souza Guilherme and published by Springer Nature. This book was released on 2020-12-09 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: This open access book discusses financial crisis management and policy in Europe and Latin America, with a special focus on equity and democracy. Based on a three-year research project by the Jean Monnet Network, this volume takes an interdisciplinary, comparative approach, analyzing both the role and impact of the EU and regional organizations in Latin America on crisis management as well as the consequences of crisis on the process of European integration and on Latin America’s regionalism. The book begins with a theoretical introduction, exploring the effects of the paradigm change on economic policies in Europe and in Latin America and analyzing key systemic aspects of the unsustainability of the present economic system explaining the global crises and their interconnections. The following chapters are divided into sections. The second section explores aspects of regional governance and how the economic and financial crises were managed on a macro level in Europe and Latin America. The third and fourth sections use case studies to drill down to the impact of the crises at the national and regional levels, including the emergence of political polarization and rise in populism in both areas. The last section presents proposals for reform, including the transition from finance capitalism to a sustainable real capitalism in both regions and at the inter-regional level of EU-LAC relations.The volume concludes with an epilogue on financial crises, regionalism, and domestic adjustment by Loukas Tsoukalis, President of the Hellenic Foundation for European and Foreign Policy (ELIAMEP). Written by an international network of academics, practitioners and policy advisors, this volume will be of interest to researchers and students interested in macroeconomics, comparative regionalism, democracy, and financial crisis management as well as politicians, policy advisors, and members of national and regional organizations in the EU and Latin America.