publication . Report . Preprint . Research . 2005

Growth in an oil abundant economy: The case of Venezuela

Bety Agnany; Amaia Iza;
Open Access
  • Published: 01 Sep 2005
  • Publisher: University of the Basque Country, Department of Foundations of Economic Analysis II
Abstract
This paper has been presented at DEGIT-X held in México 2005.-- Revised: 2008-08. Venezuela's growth experience over the past fifty years is characterized by a high economic growth rate from 1950 to 1970 and a low economic growth rate in the last thirty years. Although Venezuela is an oil abundant economy, this growth experience is largely accounted for by the evolution of its real non-oil GDP. We use growth accounting to quantify the extent to which the growth experience in non-oil sector is due to physical capital accumulation and we find that whereas in the period 1950-1980 most of the growth experience is accounted for by the evolution of TFP, this is not...
Subjects
free text keywords: oil rents, non-renewable resources, growt accounting, TFP, oil rents, growth accounting, non-renewable resources, non-renewable resources, growth accounting, TFP, oil rents, non-renewable resources, growth accounting, TFP, oil rents., TFP, jel:O47, jel:O57, jel:Q32
Related Organizations
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publication . Report . Preprint . Research . 2005

Growth in an oil abundant economy: The case of Venezuela

Bety Agnany; Amaia Iza;