| Revista: | Journal of applied economics |
| Base de datos: | CLASE |
| Número de sistema: | 000399382 |
| ISSN: | 1667-6726 |
| Autors: | Agnani, Betty1 Iza, Amaia2 |
| Institucions: | 1Universidad de Granada, Granada. España 2Universidad del País Vasco, Bilbao, Vizcaya. España |
| Any: | 2011 |
| Període: | May |
| Volum: | 14 |
| Número: | 1 |
| Paginació: | 61-79 |
| País: | Argentina |
| Idioma: | Inglés |
| Tipo de documento: | Artículo |
| Enfoque: | Aplicado |
| Resumen en inglés | Venezuela’s growth experience over the 56-year period from 1950 to 2006 was characterized by a high economic growth rate from 1950 to 1974 and a low economic growth rate from 1974 to 2006. We show that the country has been immersed in a ‘great depression’ since the mid-seventies. We also show that although Venezuela is an oil abundant economy, this growth experience is largely due to the evolution of its non-oil GDP. We perform a growth accounting exercise to quantify the extent to which the growth experience in the non-oil sector is a result of physical capital accumulation, finding that non-oil sector behavior can largely be explained by the evolution of total factor productivity (TFP). Finally, we calculate the correlations between oil rents and physical capital accumulation and TFP in the non-oil sector, finding a high positive correlation during the good performance period, but a negative correlation in the implosion period |
| Disciplines | Economía, Ingeniería |
| Paraules clau: | Economía de energéticos, Condiciones económicas, Econometría, Historia y filosofía de la economía, Ingeniería petrolera, Crecimiento económico, Renta petrolera, Venezuela |
| Text complet: | Texto completo (Ver PDF) |
