State and industrialization in Venezuela

Abstract

The objective of the article is to analyze the industrialization process in Venezuela, in the context of an economy in growing dependence on oil revenues, highlighting the study of the features of the import substitution model, which is based mainly on the support of the State through protectionist measures and financing programs. The work examines the contradictions of this model, the role played by the State and the factors that have led to the stagnation of industrial production and the deep crisis it has been going through from the 1980s to the present.