Impact of Demonetization 2016 on Venezuelan Economy

Alberto Jose Hurtado BriceÃ±o; Sadcidi Zerpa De Hurtado

Impact of Demonetization 2016 on Venezuelan Economy

Alberto Jose Hurtado Briceño * §

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Sadcidi Zerpa De Hurtado §

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§ University of the Andes, Venezuela

Impact of Demonetization 2016 on Venezuelan Economy

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Abstract

This article aims to analyze the impact of desmonetization 2016 on Venezuelan economy. The government of Venezuela demonetized the 100 bolívares notes on December 11, 2016 for achieving economic, monetary and price stability, eliminating the smuggling of banknotes, achieving a higher level of efficiency and quality in government management, and eliminating the laundering of bolívares. In this sense, the origin of the measure is presented and the proposed objectives set are explored. It is resulted that the measure generated shortages of cash, changes in production decisions and commercialization of goods, increase in deposits in the Venezuelan banking system, change in the evolution of monetary aggregates, protests in the offices of banking, and a new distribution of the monetary cone. The originality of this work lies in it being pioneer in analyzing the impact of demonetizations implemented in Venezuela and Latin America. It is concluded that the desmonetization represented a monetary shock that altered the evolution of the economy and required complementary measures to mitigate its negative effects on the welfare of the population.

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Funding

No external funding was declared for this work.

Conflict of Interest

The authors declare no conflict of interest.

Ethical Approval

No ethics committee approval was required for this article type.

Data Availability

Not applicable for this article.

How to Cite This Article

Alberto Jose Hurtado BriceÃ±o, Sadcidi Zerpa De Hurtado. 2019. "Impact of Demonetization 2016 on Venezuelan Economy". Global Journal of Management and Business Research - B: Economic & Commerce GJMBR-B Volume 19 (GJMBR Volume 19 Issue B2).

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GJMBR Volume 19 Issue B2

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Journal Specifications

Crossref Journal DOI 10.17406/GJMBR

Print ISSN 0975-5853

e-ISSN 2249-4588

Keywords

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Classification

GJMBR-B Classification JEL Code: 010

Submission ReceivedDecember 12, 2018
Peer Review Double Blind
Handling Editor
Accepted December 31, 2018
Published June 5, 2019

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v1.2

Issue date

June 5, 2019

Language

English

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Article Matrices

Total Score: 102

Country: Venezuela

Subject: Global Journal of Management and Business Research - B: Economic & Commerce

Authors: Alberto Jose Hurtado Briceño, Sadcidi Zerpa De Hurtado (PhD/Dr. count: 0)

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Publish Date: 2019 01, Tue

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