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Factor Shares and Resource Booms Accounting for the Evolution of Venezuelan Inequality

Author

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  • C., Francisco Rodriguez

Abstract

This paper studies the evolution of Venezuelan inequality since 1970. It finds a striking increase in Venezuelan inequality that has been due mainly to the rise in capital's share of GDP. It shows that the increase can be traced back to the coupling of a collapse in the ratio of physical to human capital that occurred from the 1970s with a low elasticity of substitution in production between capital and labour. It also argues that other factors can be identified as having a negative influence on inequality, namely, the policy of repeated devaluations of the currency, trade liberalization and the financial crisis of 1994.

Suggested Citation

  • C., Francisco Rodriguez, 2000. "Factor Shares and Resource Booms Accounting for the Evolution of Venezuelan Inequality," WIDER Working Papers 295537, United Nations University, World Institute for Development Economic Research (UNU-WIDER).
    • Handle: RePEc:ags:widerw:295537
    DOI: 10.22004/ag.econ.295537
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    Cited by:

    1. Pablo Astorga, 2024. "Revealing The Diversity And Complexity Behind Long-Term Income Inequality In Latin America, 1920-2011," Working Papers 0250, European Historical Economics Society (EHES).

    More about this item

    Keywords

    International Development;

    JEL classification:

    • J7 - Labor and Demographic Economics - - Labor Discrimination
    • J71 - Labor and Demographic Economics - - Labor Discrimination - - - Hiring and Firing

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