Dutch disease and Venezuelan economics in retrospective
Journal: The Journal of Economic Sciences: Theory and Practice (Vol.71, No. 1)Publication Date: 2014-07-15
Authors : Iurii Korobeinikov;
Page : 80-98
Keywords : Dutch Disease; Resource curse; Venezuela; financial resources; price.;
Abstract
“Dutch Disease” is a wording to explain a specific economic development whenever a country witnesses a large inflow of financial resources, often resulting from the exports of
natural resources. Author develops simplified graphical model of Dutch Disease and examines economics performance of Venezuela in a retrospective on the basis of most recent open statistical data despite the implications in availability of some statistics. Analysis shows clear presence of main symptoms of Dutch Disease.
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