Skip to main content

Home/ Comparative Politics/ Group items tagged hugo

Rss Feed Group items tagged

Filter: All | Bookmarks | Topics Simple Middle
Alexander Luckmann

Venezuela Goes to the Polls -- not in the same way we will in a month - 0 views

www.nytimes.com/...-voters-ahead-of-election.html

hugo chavez venezuela socialism less developed world free election

shared by Alexander Luckmann on 06 Oct 12 - No Cached
  • Alexander Luckmann on 06 Oct 12
     
    An interesting article on the Chilean election. This theme reflects on our study of economic approaches, in particular the aftermath of the shock therapy first instituted in Latin America to combat inflation in Chile. This policy was so painful for so many people that, in the 2000s, South America experienced a sharp political left turn, one of whose leaders is Chavez. He has ruled Venezuela with an almost autocratic grip, but seems at his weakest in years for this year's election.
Kay Bradley

The Political Economy of Venezuela and PDVSA - Georgetown Journal of International Affairs - 1 views

gjia.georgetown.edu/...economy-of-venezuela-and-pdvsa

Venezuela hyperinflation inflation Latin America petrostate petroleum economy international Less Developed World:

shared by Kay Bradley on 16 Nov 21 - No Cached
  • Under the direction of Luis Giusti in the 1994-1998 period, PDVSA’s production soared. This trend changed in 1999, when Hugo Chavez became Venezuela’s president and introduced Chavismo as the guiding economic doctrine.
  • Chavez responded by purging PDVSA of its professionals en masse, replacing them with “reliable” hands—those loyal to Chavez’s socialist regime.
  • This trend has left Venezuela’s output drastically lower than when Chavez took power in 1999.
  • ...6 more annotations...
  • with capital expenditures far below the value of equipment that is being consumed each year by depreciation and amortization.
  • On top of PDVSA’s reduced capital stock and its deteriorating quality, there has also been a drop in the stock and quality of its human capital.
  • It is important to note that PDVSA’s decreased output is not due to dwindling oil reserves,
  • Venezuela’s reserves—which are the world’s largest, at 9.26 billion barrels
  • At the end of 2018, Exxon’s depletion rate was 6.74 percent per year—a rate comparable to that realized by most major oil companies. That rate implies that it would take 9.9 years for Exxon’s oil reserves to be halfway depleted. That is 370.5 years earlier than when PDVSA would deplete half of its reserves
  • The country with the world’s largest oil reserves, Venezuela is plagued by a mismanaged, state-owned oil company in a death spiral—PDVSA.
1 - 2 of 2
Showing 20▼ items per page