• Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
From Windfall to Curse?: Oil and Industrialization in Venezuela, 1920 to the Present

From Windfall to Curse?: Oil and Industrialization in Venezuela, 1920 to the Present

Paperback

Business GeneralEconomics

ISBN10: 0271035544
ISBN13: 9780271035543
Publisher: Penn State University Press
Published: Jul 15 2011
Pages: 360
Weight: 1.16
Height: 0.80 Width: 6.00 Depth: 9.00
Language: English

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.

Also in

Business General