Title
From Windfall to Curse?: Oil and Industrialization in Venezuela, 1920 to the Present,Used
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Since the discovery of abundant oil resources in the 1920s, Venezuela has had an economically privileged position among the nations of Latin America, which has led to its being treated by economic and political analysts as an exceptional case. In her wellknown study of Venezuelas political economy, The Paradox of Plenty (1997), Stanford political scientist Terry Karl argued that this oil wealth induced extraordinary corruption, rentseeking, and centralized intervention that resulted in restricting productivity and growth. What this and other studies of Venezuelas economy fail to explain, however, is how such conditions have accompanied both growth and stagnation at different periods of Venezuelas history and why countries experiencing similar levels of corruption and rentseeking produce divergent developmental outcomes.By investigating the record of economic development in Venezuela from 1920 to the present, Jonathan Di John shows that the key to explaining why the economy performed much better between 1920 and 1980 than in the post1980 period is to understand how political strategies interacted with economic strategiesspecifically, how politics determined state capacity at any given time and how the stage of development and development strategies affected the nature of political conflicts. In emphasizing the importance of an approach that looks at the political economy, not just at the economy alone, Di John advances the field methodologically while he contributes to a longneeded history of Venezuelas economic performance in the twentieth century.
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- Q: What is the main focus of 'From Windfall to Curse?: Oil and Industrialization in Venezuela'? A: The book examines Venezuela's economic development from 1920 to the present, focusing on how oil wealth has influenced political and economic strategies.
- Q: Who is the author of this book? A: The author is Jonathan Di John, who investigates Venezuela's political economy and historical economic performance.
- Q: What is the publication date of this book? A: The book was published on July 15, 2011.
- Q: What is the page count of the book? A: The book contains 360 pages.
- Q: What type of binding does this book have? A: The book is available in paperback binding.
- Q: What condition is the book in? A: The book is listed as 'New' and is categorized as a 'Used Book in Good Condition'.
- Q: Is there any special edition of this book? A: Yes, this book is an illustrated edition.
- Q: What topics does the book address regarding Venezuela's economy? A: It addresses the paradox of oil wealth, corruption, rent-seeking, and the effects of political strategies on economic outcomes.
- Q: How does the author contribute to the understanding of Venezuela's economic history? A: Jonathan Di John emphasizes the importance of a political economy approach to explain varying economic performance across different periods.
- Q: In which category is this book listed? A: The book is categorized under 'Development & Growth'.