The Venezuelan experience in the 1980s is a particularly fertile ground for the analysis of negative shocks. Two large shocks took place under very different control regimes, thus highlighting the role the institutional setting plays in determining the response. Moreover, the experience can shed...

A collection of essays that explore the collapse of economic growth in Venezuela since the 1970s. Essays discuss the relevance of public investment, labor markets, fiscal policy, institutions, politics, and values. - Provided by publisher