Venezuela at the stage of macroeconomic collapse: A historical and comparative analysis

ABSTRACT: By 2018, Venezuela had lost 49.32% of its total GDP in just five years (2014-2018). Performing a historical and comparative analysis with Stata’s econometrics package, results show that this aggregated evolution of GDP represents the worst macroeconomic performance in magnitude and duration in the history of Venezuela (1950-2018), the worst in Latin America and the second worst in the world in the period 1980-2018.

Keywords: macroeconomic policy; economic collapse; macroeconomic analysis of development; Dutch disease; Bolivarian revolution.

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José Manuel Puente – IESA

Jesús Adrián Rodríguez – Cardiff University

Sent: 2019-12-16
Accepted: 2020-06-19
First View: 2020-07-30
Published: 2020-08-04

Published by Jesús Adrian Rodríguez Moreno

I’m a Venezuelan economist, currently based in Cardiff, UK. My research interests are public economics, labor, public finance, public policy, education, institutions and political economy.

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