Bolívar Distorted: The Effects of Exchange Controls on the ...

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Appendix I 3. Annual rate <strong>of</strong> GDP per capita growth 105 % change GDP per capita % 10 5 -5 -10 -15 GDP per capita Growth Historical 0 1970 1975 1980 1985 1990 1995 2000 2005 120 100 80 60 40 20 4. Annual Fuel Exports 106 Year Fuel Exports (% <strong>of</strong> merchandise exports) Historical 0 1970 1975 1980 1985 1990 1995 2000 2005 Year 105 Numbers from World Development Index Online. 106 Numbers from World Development Index Online. 44
% 60 50 40 30 20 10 5. Domestic Credit 107 Domestic credit to private sector (% <strong>of</strong> GDP) Historical 0 1970 1975 1980 1985 1990 1995 2000 2005 Year -<strong>The</strong> nationalization <strong>of</strong> the oil industry and the government’s appropriation <strong>of</strong> much <strong>of</strong> the tourism sector contributed to falls in domestic credit to the private sector, but is also indicative <strong>of</strong> the lack <strong>of</strong> industry for local investors. 6. Debt service 108 % <strong>of</strong> export goods and services 35 30 25 20 15 10 5 IMF and PPG Debt Service as % <strong>of</strong> export goods and services 0 1970 1975 1980 1985 1990 1995 2000 2005 Year 107 Numbers from World Development Index Online. 108 Numbers from World Development Index Online. 45
Page 1 and 2: Bolívar D
Page 3 and 4: Acknowledgments This project starte
Page 5 and 6: foreign currency to importers at th
Page 7 and 8: political economy driving the probl
Page 9 and 10: term exchange controls and a false
Page 11 and 12: failures were a result of</
Page 13 and 14: Chávez has been frequently critici
Page 15 and 16: smaller labor liability (around 30,
Page 17 and 18: The primary reason
Page 19 and 20: and industrial goods, the Venezuela
Page 21 and 22: (CADIVI) 51 headed by Edgar Hernand
Page 23 and 24: somewhat unclear and the process <s
Page 25 and 26: choosing to allocate foreign exchan
Page 27 and 28: government has been accused <strong
Page 29 and 30: Since the creation of</stro
Page 31 and 32: and especially Caracas. The
Page 33 and 34: appliances and other imported goods
Page 35 and 36: among countries through one globall
Page 37 and 38: Bs.1,900/US$1. Finance Minister Tob
Page 39 and 40: Why not eliminate the controls? In
Page 41 and 42: Exchange controls
Page 43: Appendix I Macroeconomic Graphs and
Page 47 and 48: Appendix III. Reserves and
Page 49 and 50: Appendix IV Consumer Price Data Gra
Page 51 and 52: Bibliography Alvarado, Luisa. Inter
Page 53: Solano, Manuel, Alberto Lopez, Terr

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