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Abstract

To what extent and in which contexts is…

To access the full paper, download the PDF on the left-hand sidebar.

Abstract

This policy report will examine how the…

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Abstract

This paper seeks to explain the apparent…

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Abstract

One point upon which virtually everyone…

Published Feb. 2013 as a Cambridge Electricity Policy Research Group/Economics working paper.

Venezuela is a textbook example of a resource-dependent country. Nevertheless, Venezuela currently combines an economy that is stagnant, despite high oil prices, with an increasingly authoritarian government.

The political institutions that established Venezuela's democracy in the 1960s were deliberately set up to generate a cooperative equilibrium with low stakes of power. The recent political reforms, increasing the stakes of power, have stimulated a complete breakdown in cooperation and a highly polarized political system.