Venezuela: ten year of Chávez government and the challenge to “sow the oil”

Abstract

The work attempts to demonstrate how the present-day Government of Venezuela has applied the nation financial resources of the oil exports in the productive diversification, with sights to the overcoming of the financier model – unproductive and importing – that prevails since the first decades of the last century. From 1999, a decided heterodox orientation in the conduction of planning and of the macroeconomic policies has been verified, principally regarding the public spending, social expenses and productive investments and of infrastructure. The challenge to “sow oil” has been made in a scene marked by the confrontation with the foreign interests on Venezuela, imperialism and the internal oligarchy. Between 1999 and 2008 the Venezuelan economy has had five different stages clearly defined. The text analyzes each one of those stages.