Corruption undermines economic development and therefore it is one of the major factors hindering economic growth and political stability, especially in the developing countries. Studies in recent years show that countries with rich natural resources have the potential to shape corruption....

In this paper, we investigate business cycle regularities in oil exporting countries. We ask the question whether oil exporting countries are all alike or whether economic fluctuations and the response dynamics of macroeconomic variables are similar. Besides we also test for the possible sources...

The primary objective of this paper is to precisely elaborate the links between trade and economic development and it explains in a very descriptive fashion how hufe investment in socio-economic activities will help economies to strengthen development process Applied Research Economies need...

Venezuela is among the top 10 countries in the world with high rates of subsidies. Taking as reference the database of the IEA (2011), subsidies in Venezuela reach 20 billion US dollars, equivalent to 7% of GDP, or in per capita terms $690 per person. 86 percent of these subsidies are allocated...

The role played by natural resources in development has been part of the economic policy debate for some time. One of the issues that have risen the most interest is industrial development. On side there is evidence that there is “Dutch Disease”. On the other hand, there has been an...

Venezuela is one of the countries with high levels of subsidies to the domestic energy consumption. Studies reveal that these subsidies amounted to 15 billion dollars in 2010 and threaten the strength of the energy sector (Villarroel (2012)). Energy prices have indeed been frozen since the 90s...

The causality between energy consumption and real income in developed countries has been a very vital research topic in recent years. Raising concerns about climate change and global warming increase the pressure on policy makers to take action against energy depletion. Unfortunately these...