oil rents

Una revisión de la estrategia de la "Siembra del Petróleo" en Venezuela y de su reemplazo por el usufructo consuntivo de la renta bajo el gobierno de Hugo Chávez. Se examinan los problemas relacionados con la absorción de la renta, relacionados con la "enfermedad Holandesa".

Este es un capítulo del libro (publicación digital), Una ventana para la reflexión académica: la Escuela de Economía de la UCV en sus 80 años, Compiladores, Catalina Banko y Carlos Peña, FaCES, UCV. argumenta que poderosos intereses creados en torno a las políticas de intervención y de control de la economía bajo la bandera del “socialismo del siglo XXI” constituyen la principal razón por la que el gobierno de Maduro no rectifica sus desastrosas políticas, ni accede a ser reemplazado por medios constitucionales. Un enfoque de economía política explica el surgimiento de estos intereses, qué representan y cómo operan, sobre todo bajo el régimen bolivariano. La conceptualización de lo que se entiende como economía política, enfatiza la importancia del marco institucional a partir del cual se van condicionando las opciones de desarrollo del país. Ello permite discutir algunos criterios de justicia distributiva que están en juego en Venezuela, así como la influencia de la renta petrolera en las instituciones y en la conducta política y económica de sus habitantes. La caracterización del rentismo bajo el régimen de Chávez se examina, tanto en sus aspectos macro y microeconómicos, lo cual descubre poderosos intereses que se han articulado en torno a las políticas de intervención y control instrumentadas. Culmina el escrito con unas breves consideraciones finales.

Palabras clave: Venezuela, Economía Política, chavismo, rentismo

This is a Chapter of the (digital) book, Una ventana para la reflexión académica: la Escuela de Economía de la UCV en sus 80 años, Compiladores, Catalina Banko y Carlos Peña, FaCES, UCV. It argues that powerful interests vested in the policies of intervention and control of the economy, in the name of twenty-first century socialism, constitute the main reason why the Maduro government doesn´t correct its disastrous policies, and is unwilling to accept constitutional means for its replacement. A political economy approach explains the making of such interests, whom they represent and how they operate, above all under the Bolivarian regime. This approach emphasizes the importance of the institutional framework that has conditioned Venezuela´s development possibilities. Likewise, it allows the discussion of criteria about what can be considered a just distribution of income, as well as the impact of oil rents on these institutions and the political behaviour of Venezuelans. The characterization of the rentier economy under Chávez is examined, both in their macro and microeconomic aspects, unveiling powerful interests in regard to the policies of intervention and control implemented. The chapter ends with a brief conclusion.
Keywords: Venezuela, Political Economy, chavismo, vested interests, rentier economy

This is a discussion paper that was prepared for ILDIS, Venezuela, Nov. 2017. It examines problems relating to the stabilization and unifying of Venezuela’s exchange rate in an upcoming program of economic recovery. It explores different options from a viewpoint based on the necessity to develop a competitive economy in the nonoil sector in which the role played by real wages in relation to labor productivity is crucial. Based on this perspective, policy recommendations are made, both for the short term and lengthier time horizons.
The paper can be found at: https://observatorioeconomicofesildis.blogspot.com/2018/04/humberto-garcia-larralde-lineamientos_6.html#more

Discovery of oil in 1956 by Shell and subsequent exploration of same, gave Nigeria the needed leverage to develop but existential realities, say contrary despite the huge oil wealth. In the face of this, there is immense struggle for the control of oil resources by the ruling class that has accentuated internal political dissension due to 'over reliance' on the oil economy. In the midst of this, intense minority struggle for resource space, remain palpable, pitching groups against selves, as a cut-throat struggle for power at the center with often ethnic coloration, remain evident. Consequently, national and regional development question remains largely unanswered in the face of the intriguing oil politics that tilt political power to plan development and actualize same, along strict political interest, dwarfing efforts made by successive administration to achieve positive development outcomes.  This paper addresses the intricate 'oil politics' in Nigeria and how sam...