LA ECONOMÍA VENEZOLANA: LOS PROBLEMAS DEL CRECIMIENTO.

The Venezuelan economy shows a downward and sustained trend in per capita income. Getting a better understanding of the causes that originate such dynamics is the objective of this research. Thus, the critical determinants are decanted, the role of oil production, the reprimarization of the economy, the relationship between inflation, real wages, the real exchange rate, the interest rate and productivity within the limits of economic growth. Based on these results, the dilemmas of macroeconomic policy are identified. Likewise, some suggestions are proposed to specify a virtuous-cumulative and lasting development process. [ABSTRACT FROM AUTHOR]