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Iurii Korobeinikov: Dutch disease and Venezuelan economics in retrospective
were periods of growth of GDP: 1980-1983, 1990-2001, 2004-2012; and periods of relative
“stagnation” (because there was no certain growth trend): 1984-1989, 2002-2003, 2011.
Fig.5. GDP of Venezuela in current US dollars from 1980 till 2012
Source: Korobeinikov 2014, based on statistical data of World Bank
Fig.6. Nominal and real crude oil price
Source: Korobeinikov 2014, based on BP Statistical Review of World Energy, 2014
Second piece of this puzzle will be assembled when fluctuation of world oil prices are
compared with previous two plots. Plot of oil prices based on BP Statistical Review of World
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