Date of Award

2021

Document Type

Dissertation/Thesis

Submission Date

October 2026

Thesis/Dissertation Advisor [Chair]

Nur-tegin, Kanykek

Abstract

Venezuela is currently experiencing inflation rates that are higher than 50 percent per month, which means the country is officially experiencing hyperinflation. The economic dependency on one natural resource, oil, makes the country’s GDP fluctuate as oil prices change. The country has increased its government spending during times in which oil prices were high. However, now that the price of oil has fallen, the country is facing considerable debt; in order to pay its debt, the country is printing money which has led to hyperinflation. The shortages, constant changes in the price of consumer goods, and government debt in Venezuela are similar to the economic situation in Brazil in 1994. Brazil was able to curb its hyperinflation with an economic plan called the Real Plan. Some of the measures of the plan were to cut state expenditures, to stop price freezing, and to partially link the currency to U.S. dollars. I claim that some of the measures carried out in Brazil through the Real Plan could be implemented in Venezuela. Three measures that could bring inflation more under control are shrinking government spending, diversifying the economy, and reducing the country’s dependency on oil. These measures would be more effective if the current political situation changes.

Comments

Thesis (B.A.)--Florida Atlantic University, Harriet L. Wilkes Honors College, 2021

Extent

26 p.

Identifier

FAUHT00166

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