The Venezuelan Bolivar Black Market
|
|
- Abigail King
- 6 years ago
- Views:
Transcription
1 The Venezuelan Bolivar Black Market How do companies survive when their own government makes it nearly impossible to exchange domestic currency for foreign currency?
2 Venezuelan Bolivar "Rumor has it that during the year and a half that Venezuelan President Hugo Chávez spent in jail for his role in a 1992 coup attempt against the government, he was a voracious reader. Too bad his prison syllabus seems to have been so skimpy on economics and so heavy on Machiavelli." Money Fun in the Venezuela of Hugo Chávez, The Economist, February 13,
3 The Venezuelan Bolivar Black Market Santiago s once-thriving pharmaceutical distribution business in Caracas, Venezuela, has hit hard times Since capital controls were implemented in February of 2003, dollars had been hard to come by He has been forced to pursue various methods methods that were more expensive and not always legal to obtain dollars, causing his margins to decrease by 50% The Venezuelan currency, the bolivar (Bs), had been recently repeatedly devalued This had instantly squeezed his margins as his costs have risen directly with the exchange rate Santiago s immediate problem is that he needs to get his hands on hard currency US dollars He could not find anyone to sell him dollars His customers needed supplies and they needed them quickly, but how was he going to come up with the $30,000 the hard currency to pay for his most recent order? 5-3
4 Exhibit 1 Venezuelan Official and Gray Market Exchange Rates, Venezuelan Bolivar/U.S. Dollar (January 2002 March 2004) 5-4
5 Venezuelan Bolivar: Case Questions 1. Why does a country like Venezuela impose capital controls? 2. In the case of Venezuela, what is the difference between the gray market and the black market? 3. Create a financial analysis of Santiago s choices and use it to make a recommend a solution to his problem. 5-5
6 Venezuelan Bolivar: Case Questions 1. Why does a country like Venezuela impose capital controls? Capital controls allow a country to preserve a fixed rate of exchange for its currency without risking its holdings of hard currency or foreign currency reserves. The problem, however, is that this control or preservation comes at a substantial cost, as many investors will no longer be willing to invest the same levels of funds in that country, if at all. Capital controls allow a country, whether Venezuela, Malaysia, or China, to control the level and flow of capital flowing in and out of the country. Because few countries have a problem with too much capital flowing in, but rather with capital out flows capital flight capital controls are typically utilized to prohibit massive capital outflows following unfavorable or crises in political or economic events 5-6
7 Venezuelan Bolivar: Case Questions 2. In the case of Venezuela, what is the difference between the gray market and the black market? The black market is the easier to define: the trading of currency through unlicensed or unrecognized organizations or institutions, which by definition in these countries is illegal. The gray market is the use of a legal process to achieve what is generally considered inconsistent with government desires or policy goals. Although by definition not illegal, gray market trading is often considered inappropriate and may be politically dangerous by the participants. 5-7
8 Venezuelan Bolivar: Case Questions Venezuelan Bolivar Item Value Rate (Bs/$) Bolviars Funds needed $30,000 CADIVI approval $10,000 1, ,420 24,200,000 Remaining Funds Needed: $20,000 Alternatives: 1. Gray Market $20,000 3,400 68,000, Black Market $20,000 4,080 81,600,000 (gray + 20%) 3. Create a financial analysis of Santiago s choices and use it to make a recommend a solution to his problem. 3. Vebonos Bonds $20,000 2,973 59,460,000 The solution criteria is to find the "best" effective exchange rate for obtaining the $30,000. The CADIVI rate, if available for the first $10,000, is the first step. The reamining funds needed, $20,000, is obtained at the lowest possible cost via the Vebonos Bonds, where the exchange rate of Bs2973/$ is the cheapest solution. 5-8
9 Venezuelan Bolivar It s not clear whether Mr. Chávez understands what a massive hit Venezuelans take when savings and earnings in dollar terms are cut in half in just three years. Perhaps the political-science student believes that more devalued bolivars makes everyone richer. But one unavoidable conclusion is that he recognized the devaluation as a way to pay for his Bolivarian missions, government projects that might restore his popularity long enough to allow him to survive the recall, or survive an audacious decision to squelch it. Money Fun in the Venezuela of Hugo Chávez, The Wall Street Journal (eastern edition), February 13, 2004, p. A
VENEZUELA: Oil, Inflation and Prospects for Long-Term Growth
VENEZUELA: Oil, Inflation and Prospects for Long-Term Growth Melody Chen and Maggie Gebhard 9 April 2007 BACKGROUND The economic history of Venezuela is unique not only among its neighbors, but also among
More informationProfits Vanish in Venezuela After Currency Devaluation
Page 1 of 5 http://nyti.ms/1qtvx68 INTERNATIONAL BUSINESS NYT NOW Profits Vanish in Venezuela After Currency Devaluation By WILLIAM NEUMAN JULY 8, 2014 CARACAS, Venezuela Brink s, the armored car company,
More informationThe Politics of Market Discipline in Latin America: Globalization and Democracy *
Globalization and Democracy * by Flávio Pinheiro Centro de Estudos das Negociações Internacionais, Brazil (Campello, Daniela. The Politics of Market Discipline in Latin America: Globalization and Democracy.
More informationVenezuelan President Maduro s Sweeping Economic Policy Announcements
Percent Venezuelan President Maduro s Sweeping Economic Policy Announcements Current conditions in Venezuela The DevTech Debt Restructuring Team recently visited Caracas and witnessed conditions on the
More informationWhy Venezuela? Page 1 of 6. Why Venezuela?
Why Venezuela? Page 1 of 6 Why Venezuela? Venezuela is the UK s fifth largest trade partner in Latin America and the Caribbean, and has the world s largest proven oil reserves. Commerce is experiencing
More informationINTRODUCTION. Commercial in Confidence Copyright 2016, Wikistrat Inc. All Rights Reserved. Patent Pending.
1 INTRODUCTION With Venezuela increasingly resembling a failing state, it seems there is no solution or savior capable of pulling the country out of its downward spiral towards chaos. While the country
More informationPoverty in Venezuela
FH Aachen campus Jülich Faculty 3: Chemistry and Biotechnology European Master in Nuclear Applications Poverty in Venezuela International Management I & II Antonio Jose Figueroa C. 29 th April, 2017 Contents
More information1. Now Comes, The United Steel, Paper and Forestry, Rubber, Manufacturing, Energy, Allied
Written Contributions/ Report prepared by the United Steel Workers for the summary prepared by the Office of the High Commissioner for Human Rights Universal Periodic Review of the Bolivarian Republic
More informationVIOLENCE AND TERRORISM IN LATIN AMERICA A GLOBAL CONTEXT: AN OVERVIEW
VIOLENCE AND TERRORISM IN LATIN AMERICA A GLOBAL CONTEXT: AN OVERVIEW HUDSON INSTITUTE August 24 th 2017 GUSTAVO TARRE POLITICAL VIOLENCE AND TERRORISM IN VENEZUELA What we failed to achieve with votes,
More informationISSUE BRIEF. Hugo Chavez s hand-picked successor, former. Venezuela: U.S. Should Push President Maduro Toward Economic Freedom
ISSUE BRIEF Venezuela: U.S. Should Push President Maduro Toward Economic By James M. Roberts and Sergio Daga No. 3911 April 15, 13 Hugo Chavez s hand-picked successor, former trade union boss Nicolás Maduro,
More informationHugo Chávez s Third Devaluation (ARI)
Hugo Chávez s Third Devaluation (ARI) Ronald Balza Guanipa * Theme: The devaluation is the consequence of accelerated internal public spending funded through oil revenues. Although spending won Hugo Chávez
More informationToussaint L Ouverture, Simon Bolivar, & Miguel Hidalgo
Toussaint L Ouverture, Simon Bolivar, & Miguel Hidalgo Spain conquered most of the lands in the Americas (while Portugal conquered Brazil0. It divided its empire into provinces. The two most important
More informationWhere U.S. Immigrants Were Born
Where U.S. Immigrants Were Born 1960 Today Other 1% Canada 2% Europe 12% Other 5% Europe 75% Asia 5% Latin America 9% Canada 10% Latin America 54% Asia 28% Sources: Migration Policy Institute, U.S. Census,
More informationLatin America s Independence Movement
Latin America s Independence Movement Unit 7 Notes Bennett Spain Builds An Empire Spain conquered most of the lands in the Americas (Portugal = Brazil). Divided empire into provinces 2 most important provinces
More informationMassachusetts Institute of Technology Model United Nations Conference XI. February 8-10, 2019 Boston, Massachusetts
Massachusetts Institute of Technology Model United Nations Conference XI February 8-10, 2019 Boston, Massachusetts Dear Delegates: My name is Jorge Perez and I m looking forward to chairing the UNECLAC
More informationVenezuela: A Beautiful Disaster. Venezuela is a country located. By: Aileen Benhamu
Venezuela: A Beautiful Disaster By: Aileen Benhamu Venezuela is a country located in South America with Caracas as its capital. Its large green areas and its tropical climate distinguish this country from
More informationMADE IN THE U.S.A. The U.S. Manufacturing Sector is Poised for Growth
MADE IN THE U.S.A. The U.S. Manufacturing Sector is Poised for Growth For at least the last century, manufacturing has been one of the most important sectors of the U.S. economy. Even as we move increasingly
More informationVENEZUELA: CAN PRESIDENT CHÁVEZ AND THE OPPOSITION REACH AN AGREEMENT THAT PRESERVES DEMOCRACY?
VENEZUELA: CAN PRESIDENT CHÁVEZ AND THE OPPOSITION REACH AN AGREEMENT THAT PRESERVES DEMOCRACY? How the current situation is affecting the business climate, the economy, and investment Antonio A. Herrera-Vaillant
More informationIssue: Venezuela s crisis and its impact on the American Continent
Committee: Economic and Social Council (ECOSOC) Issue: Venezuela s crisis and its impact on the American Continent Student Officer: Alexandra Palaiologou Position: Deputy President INTRODUCTION Venezuela
More informationMeanwhile, the deaths in the streets are rising as nationwide protests grow.
JANUARY 28, 2019 Who Owns Venezuelan Oil Assets? Let Your Conscience Be Your Guaido As of this morning, Nicolas Maduro remains as President of Venezuela. The generals remain behind him and there is, as
More informationVENEZUELA. Judicial Independence JANUARY 2013
JANUARY 2013 COUNTRY SUMMARY VENEZUELA President Hugo Chávez, who has governed Venezuela for 14 years, was elected to another six-year term in October 2012. During his presidency, the accumulation of power
More informationWhy the United Socialist Party of Venezuela (PSUV) Won the Election. James Petras
Why the United Socialist Party of Venezuela (PSUV) Won the Election James Petras Introduction Every major newspaper, television channel and US government official has spent the past two years claiming
More informationBOLIVARIAN REPUBLIC OF VENEZUELA PERMANENT MISSION TO THE UNITED NATIONS
BOLIVARIAN REPUBLIC OF VENEZUELA PERMANENT MISSION TO THE UNITED NATIONS STATEMENT BY THE MINISTER OF FOREIGN AFFAIRS AMBASSADOR JESUS ARNALDO PEREZ 59 SESSION OF THE UNITED NATIONS GENERAL ASSAMBLY CHECK
More informationFew in Venezuela Want Bolívars, but No One Can Spare a Dime
Americas Few in Venezuela Want Bolívars, but No One Can Spare a Dime By WILLIAM NEUMAN and PATRICIA TORRES OCT. 18, 2015 All the meat freezers were empty last month in a grocery store in Caracas, Venezuela,
More informationMade In Venezuela: The Struggle To Reinvent Venezuelan Labor.: An Article From: Monthly Review [HTML] [Digital] By Jonah Gindin READ ONLINE
Made In Venezuela: The Struggle To Reinvent Venezuelan Labor.: An Article From: Monthly Review [HTML] [Digital] By Jonah Gindin READ ONLINE If you are looking for the ebook Made in Venezuela: the struggle
More informationVenezuela. Venezuela at a glance: COUNTRY REPORT. April Key changes from last month
COUNTRY REPORT Venezuela Venezuela at a glance: 2002-03 OVERVIEW The president, Hugo Chávez, will become more isolated. Opposition groups will step up antigovernment campaigns, but will struggle to rival
More informationVenezuela: Summary Bond Terms
Venezuela: Summary Bond Terms Venezuela Bonds 12.75%, 2022 9.25%, 2027 9.25%, 2028 7%, 2038 Issuer Bolivarian Republic of Venezuela Currency USD Issue Date August 23, 2010 September 18, 1997 May 7, 2008
More information19 ECONOMIC INEQUALITY. Chapt er. Key Concepts. Economic Inequality in the United States
Chapt er 19 ECONOMIC INEQUALITY Key Concepts Economic Inequality in the United States Money income equals market income plus cash payments to households by the government. Market income equals wages, interest,
More informationDemocracy's ten-year rut Oct 27th 2005 From The Economist print edition
The Latinobarómetro poll Democracy's ten-year rut Oct 27th 2005 From The Economist print edition Latin Americans do not want to go back to dictatorship but they are still unimpressed with their democracies.
More informationREVOLUTIONIZING WOMEN S ROLES IN VENEZUELA
Page 1 of 5 REVOLUTIONIZING WOMEN S ROLES IN VENEZUELA "as head of state I will always support women's movements, to seek balance in Venezuela and thus contribute to the balance in the world." Since 1999,
More informationMONTHLY OIL REPORT. Lessons to be learned.
27 December 2004 MONTHLY OIL REPORT Herodotus Antonopoulos & Filimon Antonopoulos Oil Market Analysts lnx@otenet.gr ; info@iraj.gr Lessons to be learned. Concluding this extremely volatile year in the
More informationGlobalization: It Doesn t Just Happen
Conference Presentation November 2007 Globalization: It Doesn t Just Happen BY DEAN BAKER* Progressives will not be able to tackle the problems associated with globalization until they first understand
More informationTextbook burning in Venezuela
Textbook burning in Venezuela By Associated Press, adapted by Newsela staff on 01.26.15 Word Count 786 In this Dec. 11, 2014, photo, public school students draw after class in Caracas, Venezuela. As children
More informationVenezuelan Oil and Politics A Chance to Transform OPEC Patrick Fowler EDGE Winter 2003
Venezuelan Oil and Politics A Chance to Transform OPEC Patrick Fowler EDGE Winter 2003 As the 5th largest oil exporter in the world Venezuela s oil is exceptionally important not only to the country itself,
More informationIn defense of Venezuela
Boaventura de Sousa Santos In defense of Venezuela Venezuela has been undergoing one of the most difficult moments of her history. I have been following the Bolivarian Revolution from its beginning with
More informationMyths and facts of the Venezuelan election system
Myths and facts of the Venezuelan election system Whenever elections are held in Venezuela, local and foreign media and political players launch a campaign to delegitimize the election system and question
More informationInternational Approach to Int l Monetary Issues
International Approach to Int l Monetary Issues Explain international monetary outcomes (origins and stability of int l monetary systems) by way of international conditions (distribution of power among
More informationEconomic Freedom in the Bolivarian Andes Is Melting Away
No. 1157 Delivered March 2, 2010 June 29, 2010 Economic Freedom in the Bolivarian Andes Is Melting Away James M. Roberts Abstract: In the past, Bolivarian referred to those Andean countries that had been
More informationThe Venezuelan Crisis: Currency Board, Dollarization and Fiscal Reform. Works Cited
The Venezuelan Crisis: Currency Board, Dollarization and Fiscal Reform Books and Journal Articles Works Cited Berg, Andrew, and Eduardo Borensztein, IMF Working Paper: The Pros and Cons of Dollarization,
More informationFollowing the Mugabe model Spot the difference
Following the Mugabe model Spot the difference Venezuela today looks like Zimbabwe 15 years ago Apr 2nd 2016 CARACAS From the print edition VISITING a supermarket in Venezuela is like entering Monty Python
More informationThe Economics, Culture, and Politics of Oil in Venezuela. By Gregory Wilpert.
The Economics, Culture, and Politics of Oil in Venezuela By Gregory Wilpert www.venezuelanalysis.com Perhaps the most important thing to know about Venezuela is that it is an oil exporting country, the
More informationFrom Dialogue to Action: Paying the Democratic Deficit in Venezuela. Participatory Democracy at the Local Level
From Dialogue to Action: Paying the Democratic Deficit in Venezuela Participatory Democracy at the Local Level Presented to National Conference on Dialogue and Deliberation by Laura Wells and Jay Hartling
More informationVenezuela. Police abuses and impunity are a grave problem. Prison conditions are deplorable, and fatality rates high due to inmate violence.
January 2011 country summary Venezuela The Venezuelan government s domination of the judiciary and its weakening of democratic checks and balances have contributed to a precarious human rights situation.
More informationPolling and the Ballot: The Venezuelan Referendum By David Rosnick 1
cepr CENTER FOR ECONOMIC AND POLICY RESEARCH Issue Brief Polling and the Ballot: The Venezuelan Referendum By David Rosnick 1 August 19, 2004 CENTER FOR ECONOMIC AND POLICY RESEARCH 1621 CONNECTICUT AVE.,
More informationPART 1B NAME & SURNAME: THE EFFECTS OF GLOBALIZATION
Read TEXT 1 carefully and answer the questions from 1 to 10 by choosing the correct option (A,B,C,D) OR writing the answer based on information in the text. All answers must be written on the answer sheet.
More informationProcedia - Social and Behavioral Sciences 109 ( 2014 ) The East Asian Model of Economic Development and Developing Countries
Available online at www.sciencedirect.com ScienceDirect Procedia - Social and Behavioral Sciences 109 ( 2014 ) 1168 1173 2 nd World Conference On Business, Economics And Management - WCBEM 2013 The East
More informationA Statistical Analysis of the Economy of Venezuela
Advances in Management & Applied Economics, vol. 5, no.2, 215, 63-76 ISSN: 1792-7544 (print version), 1792-7552(online) Scienpress Ltd, 215 A Statistical Analysis of the Economy of Venezuela Pete Mavrokordatos
More informationASIAN CURRENCY CRISES IMPACT ON THAILAND, INDONESIA& SOUTH KOREA
ISSN: 2394-277, Impact Factor: 4.878, Volume 5 Issue 1, March 218, Pages: 79-88 ASIAN CURRENCY CRISES IMPACT ON THAILAND, INDONESIA& SOUTH KOREA 1 Rohan Regi, 2 Ajay S. George, 3 Ananthu Sreeram 1, 2,
More informationModern Day Dystopias
North Korea Facts* Ruled by Kim Jong-Un, the latest in the Kim Family. The Kim family has run the Worker s Party of Korea, the government that controls North Korea, for over 70 years. Sorts people according
More informationThe Minimum Wage. Introduction. Impacts on Employment
The Minimum Wage Copyright 2013 by Tony Lima. Permission is granted to quote entire paragraphs of text without editing. If you wish to edit a paragraph, I must approve your editing before you publish it.
More informationVenezuela: The Revolution Continues
1 by Peter Bohmer, June 1, 2012 Venezuela: The Revolution Continues I spent 10 weeks in Venezuela in early 2012, two months with a group of 30 students from the Evergreen State College and then two weeks
More informationThe Party Throws a Congress: China s Leadership Strengthens Control
The Party Throws a Congress: China s Leadership Strengthens Control OCTOBER 2017 Snapshot China s National Party Congress concluded this week with Xi Jinping retaining firm control, as expected. Economic
More informationVoters Support Bold Economic Agenda
Support Bold Economic Agenda Methodology: Demos sponsored an online survey among 1,536 registered voters, conducted June 5 to June 14, 2017. The research included a base sample of registered voters and,
More informationFrom Reset to Regret: Views of Russia Fall to Levels Not Seen Since Cold War
From Reset to Regret: Views of Russia Fall to Levels Not Seen Since Cold War Dina Smeltz, senior fellow, public opinion and foreign policy Craig Kafura, senior program officer, studies July 2014 New Chicago
More informationTrump and the Xenophobic Populist Parties: Cultural Backlash in Artificial Intelligence Society
Trump and the Xenophobic Populist Parties: Cultural Backlash in Artificial Intelligence Society Ronald Inglehart Higher School of Economics Moscow April 11, 2017 In recent decades virtually all of the
More informationVENEZUELA FOREIGN TRADE BARRIERS 487 TRADE SUMMARY
TRADE SUMMARY The United States trade deficit with Venezuela was $14.3 billion in 2003, an increase of $3.6 billion from $10.7 billion in 2002. U.S. goods exports in 2003 were $2.8 billion, down 35.9 percent
More informationWith the smoke screen of Iraq and North Korea in full effect, the White House has been plotting another regime change on the down low.
marxist disinformation.html Page 1 January 25, 2003 Marxist Disinformation The Marxist regime of Hugo Chavez Frias has orchestrated a huge disinformation campaign in the international press. To illustrate
More informationVENEZUELA TRADE SUMMARY IMPORT POLICIES FOREIGN TRADE BARRIERS -621-
VENEZUELA TRADE SUMMARY The U.S. goods trade deficit with Venezuela was $28.2 billion in 2006, an increase of $596 million from $27.6 billion in 2005. U.S. goods exports in 2006 were $9.0 billion, up 40.4
More informationIMF standby arrangement: its role in the resolution of crises in the 1990s.
University of Wollongong Research Online Faculty of Law - Papers (Archive) Faculty of Law, Humanities and the Arts 2011 IMF standby arrangement: its role in the resolution of crises in the 1990s. Gabriel
More informationVENEZUELA TRADE SUMMARY
VENEZUELA TRADE SUMMARY The U.S. goods trade deficit with Venezuela was $21.1 billion in 2012, down $9.8 billion from 2011. U.S. goods exports in 2012 were $17.6 billion, up 42.8 percent from the previous
More informationThe Obstacles to Regional Integration in Latin America. Carlos Malamud
The Obstacles to Regional Integration in Latin America Carlos Malamud Theme: Despite the increasing rhetoric about the external obstacles that hinder the process of Latin American integration, the main
More informationObjectives for Chapter 26: International Economic Relations: 1970 to 2000: Globalization
Page 1 Objectives for Chapter 26: International Economic Relations: 1970 to 2000: Globalization At the end of Chapter 26, you will be able to answer the following questions: 1. What is meant by globalization?
More informationTHE ASSOCIATED PRESS-IPSOS POLL VENEZUELA PRE-ELECTION STUDY RELEASE DATE: NOVEMBER 24, 2006 LIKELY VOTER SCREENING
Ipsos Venezuela Ave. Rio Caura, C.E. Torre Humboldt MZ-08 Prados del Este Caracas 1080 Venezuela (58) 0212-9775536 Interview dates: Venezuela nationwide face-to-face Interviews: 2,500 registered including
More informationMassachusetts Institute of Technology Model United Nations Conference XI. February 8-10, 2019 Boston, Massachusetts
Massachusetts Institute of Technology Model United Nations Conference XI February 8-10, 2019 Boston, Massachusetts Dear Delegates, Welcome to the 2018 MIT Model United Nations Conference (MITMUNC)! We
More informationREMITTANCE PRICES WORLDWIDE
REMITTANCE PRICES WORLDWIDE THE WORLD BANK PAYMENT SYSTEMS DEVELOPMENT GROUP FINANCIAL AND PRIVATE SECTOR DEVELOPMENT VICE PRESIDENCY ISSUE NO. 3 NOVEMBER, 2011 AN ANALYSIS OF TRENDS IN THE AVERAGE TOTAL
More informationThe recent financial crisis of generated a debate. Book Review. Monetary Regimes and Inflation: History, Economic, and Political
The Quarterly Journal of VOL. 19 N O. 2 187 191 SUMMER 2016 Austrian Economics Book Review Monetary Regimes and Inflation: History, Economic, and Political Relationships, Second Edition Peter Bernholz
More informationModel United Nations Alfrink Global Mayors Forum Reintroducing Ex- Convicts Into Society
Forum: Issue: Student Officer: Global Mayors Forum Reintroducing Ex- Convicts Into Society Carlijn Levert Introduction In many countries the prison rates are at an all- time high. The economic climate
More informationCÉSAR GAVIRIA TRUJILLO, SECRETARY GENERAL OF THE ORGANIZATION OF AMERICAN STATES REPORT PURSUANT TO RESOLUTION CP/RES
CÉSAR GAVIRIA TRUJILLO, SECRETARY GENERAL OF THE ORGANIZATION OF AMERICAN STATES REPORT PURSUANT TO RESOLUTION CP/RES.811(1315/02) SITUATION IN VENEZUELA April 18, 2002 - Washington, DC As Secretary General
More information1. Define GDP. The market value of all final goods and services produced within a nation in a given time period
Economics 1. Define GDP. The market value of all final goods and services produced within a nation in a given time period 2. GDP represents the aggregate or the whole economy. 3. List the 4 components
More informationEuro changeover in Estonia. Ingvar Bärenklau, eurocommunications manager
Euro changeover in Estonia Ingvar Bärenklau, eurocommunications manager Estonia s way to euro Monetary reform 1992 - currency board system means that the Estonian currency, kroon, has been peg d to German
More informationThe United States Trade Deficit Issue with China and its Economic Effects in 2016
The United States Trade Deficit Issue with China and its Economic Effects in 2016 Item Type text; Electronic Thesis Authors Jiang, Yuanzhi Publisher The University of Arizona. Rights Copyright is held
More informationLATIN AMERICAN ICONS COMM Spring 2010
Mauro P. Porto Department of Communication Tulane University mporto@tulane.edu Office: 219 Newcomb Hall Office hours: Mon and Fri, 11:00 am. - noon or by appointment Phone: 862.3037 LATIN AMERICAN ICONS
More informationChapter 5: Internationalization & Industrialization
Chapter 5: Internationalization & Industrialization Chapter 5: Internationalization & Industrialization... 1 5.1 THEORY OF INVESTMENT... 4 5.2 AN OPEN ECONOMY: IMPORT-EXPORT-LED GROWTH MODEL... 6 5.3 FOREIGN
More informationDistrust in Justice: The Afiuni case and the independence of the judiciary in Venezuela. Executive Summary April 2011
Distrust in Justice: The Afiuni case and the independence of the judiciary in Venezuela Executive Summary April 2011 A report of the visit by the International Bar Association Human Rights Institute to
More informationState of Remittance and Balance of Payment in Nepal
Economic Literature, Vol. XI (15-19), June 2013 State of Remittance and Balance of Payment in Nepal Gorakh Raj Ojha * ABSTRACT Foreign employment of Nepali workers is viewed as a potential source of foreign
More informationLAC Focus: Venezuela Andrés Serbin and Andrei Serbin Pont CRIES November 2015
Andrés Serbin and Andrei Serbin Pont CRIES 1 Coordinadora Regional de Investigaciones Económicas y Sociales CRIES is a Latin American and Caribbean Think Tank aimed at mainstreaming network-based analysis
More informationCharting Singapore s Economy, 1H 2017
Charting Singapore s Economy, 1H 2017 Designed to help executives interpret economic numbers and incorporate them into company s planning. Publication Date: January 3 rd, 2017 Next Issue: To be published
More informationCryptocurrency Musings (February 26, An Ongoing Series) Cryptocurrency vs. Consensus Money: Technology vs. Credibility
Cryptocurrency Musings (February 26, 2018 - An Ongoing Series) Cryptocurrency vs. Consensus Money: Technology vs. Credibility It might astonish many people to learn that Venezuela has announced that it
More informationVENEZUELA AN EXCERPT FROM
CLIMATE CHANGE LEGISLATION IN VENEZUELA AN EXCERPT FROM The 2015 Global Climate Legislation Study A Review of Climate Change Legislation in 99 Countries Michal Nachmany, Sam Fankhauser, Jana Davidová,
More informationBusiness Globalization
Business Globalization Introduction In today s business environment, most of the big companies are becoming global in nature. Companies are realizing that globalization provides an opportunity in terms
More informationOctober 2009 Update on Tracking the Effect of the Economic Crisis on Pharmaceutical Consumption, Expenditures
October 2009 Update on Tracking the Effect of the Economic Crisis on Pharmaceutical Consumption, Expenditures and Unit Prices Executive Summary The WHO, in collaboration with IMS, has put in place a programme
More informationGaveKalDragonomics China Insight Economics
GaveKalDragonomics China Insight 6 September 211 Andrew Batson Research director abatson@gavekal.com Is China heading for the middle-income trap? All fast-growing economies slow down, eventually. Since
More informationQueen s Global Markets A PREMIER UNDERGRADUATE THINK-TANK
Latin America and the Commodity Crash June 2015 Latin America and the Commodity Crash Over the past year, Latin America has spiraled into economic and political turmoil, with the region expecting a GDP
More informationThe Left in Latin America Today
The Left in Latin America Today Midge Quandt Much to the dismay of the U.S. Government which fears losing its grip on its own back yard, left and center-left governments in Latin America have in recent
More informationMissing Pieces: Banking for the Poor, Reform in China, and More
Isobel Coleman Democracy in Development Coleman maps the intersections between political reform, economic growth, and U.S. policy in the developing world. Subscribe to the Blog Feed Receive Blog Posts
More informationUnit 1: Fundamental Economic Concepts. Chapter 2: Economic Choices and Decision Making. Lesson 4: Economic Systems
Unit 1: Fundamental Economic Concepts Chapter 2: Economic Choices and Decision Making Lesson 4: Economic Systems 1 Your Objectives After this lesson you should be able to: 1. Describe the characteristics
More informationEcon U.S. Economic History I: The Founding Eras John Lovett. Exam 3 - Fall Code Name:
Exam 3 - Fall 2015 Code Name: Part 1: (70 points. Answer on this paper. 2.0 pts each unless noted.) 1. (12 points) Match each statement with the likely author or authors. Each row can have 0, 1, or 2 checks.
More informationVenezuela Short Form Report - December 2017
Sanctions FAFT AML Deficient Higher Risk Areas Medium Risk Areas EU & US arms embargo and restrictions in place blocking property and suspending entry of certain persons contributing to the situation in
More informationWhich statement to you agree with most?
Which statement to you agree with most? Globalization is generally positive: it increases efficiency, global growth, and therefore global welfare Globalization is generally negative: it destroys indigenous
More informationBe afraid of the Chinese bearing gifts
http://voria.gr/details.php?id=11937 Be afraid of the Chinese bearing gifts International Economics professor of George Mason, Hilton Root, talks about political influence games, Thessaloniki perspectives
More informationIN THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF DELAWARE. Plaintiff, Civ. No. COMPLAINT
IN THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF DELAWARE CRYSTALLEX INTERNATIONAL CORP., v. Plaintiff, Civ. No. PETRÓLEOS DE VENEZUELA, S.A.; PDV HOLDING, INC.; and CITGO HOLDING, INC., f/k/a PDV
More informationIHS Outlook: Global Supply Chain Trends and Threats
SUPPLY CHAIN ECONOMICS IHS Outlook: Global Supply Chain Trends and Threats By Chris G. Christopher, Jr., Director, U.S. Macroeconomics & Consumer Economics, IHS Markit Global trade and the many supply
More informationFree Trade and Sweatshops
Free Trade and Sweatshops Is Global Trade Doing More Harm Than Good? San Francisco Chronicle, June 2001 Perhaps the fundamental question about globalization is whether it helps or hurts workers, particularly
More informationANALYTIC REPORT: ABOLITION OF DEATH PENALTY IN UZBEKISTAN, FROM JANUARY 1 ST 2008
Appendix # 2 ANALYTIC REPORT: ABOLITION OF DEATH PENALTY IN UZBEKISTAN, FROM JANUARY 1 ST 2008 Author Sukhrobjon Ismoilov, Chairman, Veritas Youth Human Rights Movement, Tashkent, Uzbekistan Starting from
More informationPOS 335 Andreas Syz February 17, 2004
Multinational Corporations (MNCs), International Investment and Trade POS 335 Andreas Syz February 17, 2004 Multinational Corporations MNCs are networks of firms, linked together by ties of ownership and
More informationThe Cost of Trump s Deportation Budget to the Garden State
The Cost of Trump s Deportation Budget to the Garden State August 2017 By Make the Road New Jersey 1 I. INTRODUCTION : As part of its continued assault on immigrant communities, the Trump Administration
More informationMigration. Why do people move and what are the consequences of that move?
Migration Why do people move and what are the consequences of that move? The U.S. and Canada have been prominent destinations for immigrants. In the 18 th and 19 th century, Europeans were attracted here
More informationSTANDARD WHII.6e The student will demonstrate knowledge of scientific, political, economic, and religious changes during the sixteenth, seventeenth,
STANDARD WHII.6e The student will demonstrate knowledge of scientific, political, economic, and religious changes during the sixteenth, seventeenth, and eighteenth centuries by e) describing the French
More informationComment on Dowrick and DeLong, Globalisation and Convergence
Comment on Dowrick and DeLong, Globalisation and Convergence Charles I. Jones * Department of Economics, U.C. Berkeley and NBER E-mail: chad@econ.berkeley.edu http://elsa.berkeley.edu/ chad I greatly enjoyed
More informationReport January 2019 VENEZUELA. President Maduro is sworn in for his second term. Political Analysis Regulatory Information Service
Report January 2019 VENEZUELA President Maduro is sworn in for his second term Political Analysis Regulatory Information Service 1 Executive Summary On January 10, Nicolás Maduro was sworn in for his second
More information