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Oil and the Chávez Legacy
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Oil and the Chávez Legacy
Journal Article

Oil and the Chávez Legacy

2017
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Overview
In the final 15 years of the Punto Fijo era (1958–1998), as state institutions and socioeconomic conditions deteriorated, the executive class of Petróleos de Venezuela S.A. broke free from state control. In his 15 years as president of Venezuela, Hugo Chávez reasserted the state's control over the company and reestablished a fiscal regime that brought the country enormous financial benefits. It is a legacy, however, that has an uncertain future. En los últimos 15 años de la era del Punto Fijo (1958–1998), mientras las instituciones estatales y las condiciones socioeconómicas se deterioraban, los ejecutivos de Petróleos de Venezuela S.A. se independizaron del control estatal. Durante sus 15 años como presidente de Venezuela, Hugo Chávez reafirmó el control del estado sobre esta compañía y reestableció un régimen fiscal que le rindió grandes beneficios económicos al país. Se trata, sin embargo, de un legado que tiene un futuro incierto.
Publisher
SAGE Publications,SAGE PUBLICATIONS, INC