Quote:
Originally Posted by Andrewl
One thing that needs to be said is that Venezuela's economy is tied to oil.
on page 8 of this pdf
http://www.cepr.net/documents/public...la_2007_07.pdf
you can see this relationship quite clearly along with a huge improvement in GDP since 2003, after the oil strike.
The HDI is a bit misleading because no other latin america nation has an economy as tied to oil as Venezuela does. Although Chavez has been trying to diversify.
Andrew |
Yes, but with the rapid growth in the price of oil, where's the rapid growth in the HDI (and other indicators) in Venezuela?
The fact that these things are flat, while revenues have risen exponentially, seems to indicate that Chavez is doing an even worse job than one would think at first blush.
Matt