Economic growth and employment problems in Venezuela: an analysis of an oil based economy

Book · Wed Jan 01 00:00:00 EST 1975

OSTI ID:7355575

Hassan, M F

The relationship between the high economic growth rate and unemployment in Venezuela is studied; this country's growth and employment development plans are evaluated. Since World War II Venezuela has experienced accelerated economic growth, largely due to the oil industry, the value of investment, and the international environment. Heavy dependence on one primary product for exports usually makes an economy unstable because of fluctuations in the price and quantity of these exports. Because Venezuela's primary product is petroleum, this nation's economy is fairly stable. It has enjoyed good terms of trade and amassed large volumes of foreign exchange. Consequently Venezuela's economic development has been uninterrupted. Although Venezuela's gross domestic product (GDP) has escalated, the country's unemployment problems are becoming more severe. By using capital-intensive production techniques, production has increased significantly with little increase in employment. The impact of this employment situation on labor policy, vocational training, education, and agricultural development is studied. Venezuela's development plans are assessed by examining growth and employment goals and the methods and feasibility of accomplishing these goals. (153 references) (BYB)

• Research Organization: Illinois State University, Normal, IL 61761
• OSTI ID: 7355575
• Resource Relation: Other Information: Praeger Special Studies in International Economics and Development; Related Information: ISBN 0-275-09460-X
• Country of Publication: United States
• Language: English

Related Subjects

29 ENERGY PLANNING
POLICY AND ECONOMY
02 PETROLEUM
PETROLEUM
ECONOMICS
VENEZUELA
ECONOMIC DEVELOPMENT
CHARGES
ECONOMIC POLICY
GOVERNMENT POLICIES
GROWTH
INDUSTRY
INVESTMENT
PLANNING
TRADE
ENERGY SOURCES
FOSSIL FUELS
FUELS
SOUTH AMERICA
290200* - Energy Planning & Policy- Economics & Sociology
530100 - Environmental-Social Aspects of Energy Technologies- Social & Economic Studies- (-1989)
020700 - Petroleum- Economics
Industrial
& Business Aspects