{"id":485,"date":"1989-01-01T02:21:05","date_gmt":"1989-01-01T02:21:05","guid":{"rendered":"http:\/\/www.tmsdesarrolladores.com\/pedropalma\/?p=485"},"modified":"2016-03-02T16:16:21","modified_gmt":"2016-03-02T16:16:21","slug":"commodity-price-contractions-debt-and-economic-growth-in-developing-economies-the-venezuelan-case","status":"publish","type":"post","link":"https:\/\/pedroapalma.com\/site\/commodity-price-contractions-debt-and-economic-growth-in-developing-economies-the-venezuelan-case\/","title":{"rendered":"Commodity price contractions, debt and economic growth in developing economies: The Venezuelan case"},"content":{"rendered":"<h4>Palma, Pedro A. (1989) <em>Commodity price contractions, debt and economic growth in developing economies: The Venezuelan case<\/em>. In Klein, L. R. and M\u00e1rquez, J. (Eds.) <strong>Economics in Theory and Practice: An Eclectic Approach. <\/strong>Boston \u2013 London: Kluwer Academic Publishers. Chapter V. Pp. 101-127.<\/h4>\n<p>&nbsp;<\/p>\n<p>One of the consequences of the emergence of the Latin American foreign debt crisis in 1982 has been a growing attention to the problem of the incompatibility between internal economic growth and the honoring of external commitments by heavily indebted countries suffering the effects of a strong deterioration of their terms of trade. The latter problem, in turn, is the result of the collapse of the prices for their main export products, usually a limited gamut of primary commodities, which are particularly subject to extreme price fluctuations.<\/p>\n<p>Venezuela affords a classic case to illustrate this situation. In 1987, hydrocarbon exports (crude oil, refined petroleum products, natural gas, etc.) accounted for 80% of the country&#8217;s exports of goods and services and nearly 87% of its merchandise exports. This near-total dependence on a single export product makes the country dangerously vulnerable to fluctuations in world prices.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Palma, Pedro A. (1989) Commodity price contractions, debt and economic growth in developing economies: The Venezuelan case. In Klein, L. R. and M\u00e1rquez, J. (Eds.) Economics in Theory and Practice: An Eclectic Approach. Boston \u2013 London: Kluwer Academic Publishers. Chapter V. Pp. 101-127. &nbsp; One of the consequences of the emergence of the Latin American &hellip;<\/p>\n","protected":false},"author":2,"featured_media":487,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,8],"tags":[69,70,71,72,63,60],"class_list":["post-485","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-academicos","category-libros-y-capitulos","tag-commoditiy-prices","tag-external-debt","tag-oil-prices","tag-oil-revenue-dependency","tag-rentismo-petrolero","tag-venezuelan-economy"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Commodity price contractions, debt and economic growth in developing economies: The Venezuelan case - Pedro A. 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