COUNTRY

Venezuela

Research related to Venezuela.

Global System & Power

Venezuela: oil-state formation, institutional collapse and the economics of partial stabilization after hyperinflation

Venezuela transformed from an agricultural exporter into one of the world's archetypal oil states, using petroleum rents to finance urbanization and social policy; the later collapse of production, institutions and money generated mass migration, and by 2026 partial market adaptation coexists with renewed extreme inflation.