The Process of the Increase of Venezuela’s Economy Dependence from Petroleum Industry

  • Joanna Gocłowska-Bolek University of Warsaw (Poland)


Venezuela, oil industry, oil, economic crisis


The article presents the process of increase dependence of the Venezuelan economy on the oil industry in historical terms and points to the structural causes of the current economic crisis. The main effects of this addiction are pointed out, including economic, political, cultural and democratization effects. The current economic situation of the country is being presented as a consequence of the progressive subordination of the economy to revenues from oil exports and the lack of economic diversification of the country.


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How to Cite
GOCŁOWSKA-BOLEK, Joanna. The Process of the Increase of Venezuela’s Economy Dependence from Petroleum Industry. Ameryka Łacińska. Kwartalnik Analityczno-Informacyjny, [S.l.], n. 2 (100), p. 107-132, oct. 2018. ISSN 2081-1152. Available at: <>. Date accessed: 20 jan. 2019.