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VENEZUELA CRISIS

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THE VENEZUELAN CRISIS
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VENEZUELA CRISIS

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Table of Contents
INTRODUCTION .......................................................................................................................... 3
Background ................................................................................................................................. 3
Purpose of the Study ................................................................................................................... 4
Objectives of the Study............................................................................................................... 4
Broad Objective ...................................................................................................................... 4
Specific Objectives ................................................................................................................. 4
Research Question....................................................................................................................... 4
Research Hypothesis and Null Hypothesis ................................................................................. 4
The significance of the Study...................................................................................................... 5
The scope of Study...................................................................................................................... 5
Limitations of the Study.............................................................................................................. 6
Theoretical Framework ............................................................................................................... 6
Conceptual Framework ............................................................................................................... 7
LITERATURE REVIEW ............................................................................................................... 8
Recently Elected President.......................................................................................................... 8
The Life before the Change in Power of Venezuela ................................................................... 8
Lack of Checks and Balances ..................................................................................................... 9
Healthcare Changes..................................................................................................................... 9
Denial of Medication .............................................................................................................. 9
Strict Limitations on Who Gets Medication and How Much they Receive ........................... 9
Inflation of Everyday Needs ..................................................................................................... 10
Shifts in Prices .......................................................................................................................... 10
Oil.......................................................................................................................................... 10
Food ...................................................................................................................................... 10
Banking ..................................................................................................................................... 11
Wrongful Imprisonment............................................................................................................ 11
Politicians.............................................................................................................................. 11
University Students ............................................................................................................... 12
RESEARCH STATEMENT AND HYPOTHESIS TESTING .................................................... 14
Problem Statement .................................................................................................................... 14
Testing Hypothesis.................................................................................................................... 14
METHODOLOGY........................................................................................................................ 15
Research Design........................................................................................................................ 15
Population ................................................................................................................................. 15
Sampling Technique ................................................................................................................. 15
Sample Size............................................................................................................................... 15
Data Collection ......................................................................................................................... 15
PRELIMINARY PLANS FOR DATA ANALYSIS .................................................................... 16
The justification for Methods and Data .................................................................................... 16
Research Validity and Reliability ............................................................................................. 16
Ethical Consideration ................................................................................................................ 17
References ..................................................................................................................................... 18

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VENEZUELA CRISIS
INTRODUCTION
Venezuela is a country found in the Northern coast of South America. Its geographical

characteristics comprise of continental landmass with a number of small islands in the Caribbean
Sea. Its capital city is Caracas which is also the largest urban-centered and the most populated
area. Its borders the Caribbean Sea, the Atlantic Ocean, Colombia, Brazil, Guyana, and Trinidad
and Tobago. Its exclusive economic zones cut across territorial waters, contiguous zones, and
continental shelf. The country is the 7th in terms of biological diversity. Although it has 26
languages, the official language is Spanish while the major ethnic groups are Amerindians, the
Africa, European, and the Mestizo who form the largest population. Catholic is the most
dominant religion, followed by the Protestants.
The country is controlled by a Federal government with a national and constituent
assembly. The country’s total GDP as at 2017 was $320 billion. The country is facing numerous
crisis with hyperinflation being one of the major crisis that has affected most of its economic
sectors. However, the current crisis span across the socioeconomic and political realm of the
country. Under the presidency of Chavez Hugo, and extended to the reign of Nicola Madura, the
country is struggling with the worst economic crisis ever witnessed in the world. Massive
emigration to neighboring countries, rapid hyperinflation, crimes, soaring hunger, disease, and
the high death rate is the consequences of the crisis the country is facing.
Background
According to economists, the Venezuela crisis erupted from the consequences of the
socialist and populist policies perpetrated by Chavez which culminated into the Bolivarian
revolution. The results were increasing shortage as oil, the decline in oil prices while production
also dropped. The government never implemented any fiscal or monetary policy to cut

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VENEZUELA CRISIS
government expenditure despite signs of an economic crisis. Suppression of the opposition,
shortage of medicine and food, political corruption, unemployment, high dependency ratio,
closure of companies have also led to the crisis. The Venezuela crisis has had an adverse impact
on the life of its citizens with over 90% of the population living in poverty. More than half of
the population do not have enough income to buy basic needs. Equally, the country is leading to
violent crimes, murder, emigration, and insecurity due to the current crisis.
Purpose of the Study
This study seeks to examine how the shift in power has affected the Venezuelan people
Objectives of the Study
Broad Objective
To assess how the shift in power has affected the Venezuelan people
Specific Objectives
i.

To find out the impact of the change in power of the crisis in Venezuela

ii.

To assess the consequences of the shift in power to Venezuela population

iii.

To evaluate what has to be done for the population that is being denied access to
medication, suffering from inflation of everyday needs, and wrongfully imprisoned
Research Question

i.

What is the impact of the change in power of the crisis in Venezuela?

ii.

What are the consequences of the shift in power to Venezuela population?

iii.

What has to be done for the population that is being denied access to medication,
suffering from inflation of everyday needs, and wrongfully imprisoned?
Research Hypothesis and the Null Hypothesis

HO1 : There is no significant impact of the change in power to the crisis in Venezuela

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HO2 : There are no significant consequences of the shift in power to Venezuela population?

HO3 : There is no significant thing that can be done for the population that is being denied access
to medication, suffering from inflation of everyday needs, and wrongfully imprisoned?
The significance of the Study
This study will be of significance to the political groups, opposition leaders, civil society
movements, human rights activist, and the world agencies such as UN for the purposes of
implementing intervention measures into the Venezuela crisis. The research adds to our base of
existing knowledge the rationale behind the current Venezuela crisis with a comprehensive
evidence on the causes and consequences. It will also be essential in establishing political and
institutional frameworks that would guide the implementation of various strategies to help
Venezuela recover from the current crisis.
The findings of this study will be used to encourage the citizens of Venezuela to
cooperate with its government as it struggles to come out of the current crisis so that an amicable
and long-lasting solution is found that is beneficial for all citizens. Policy makers will be able to
consider the formulation of policies that identify needs in training, planning and designing
implementation of various programs aimed at mitigating the cause of the current crisis in the
country. Besides adding to currently available literature, this study will influence further research
to fill in existing gaps and know the causes and consequences of the crisis in Venezuela and any
other country in future, consequently, it will guide future research to mitigate all the possibility
of experiencing a similar crisis in future in any country.
The scope of the Study
This research study focuses on the socioeconomic and political crisis facing the Venezuela
people after the recent election that brought new leadership into power. It will examine whether

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the change in political leadership has had any positive impact on the political and socioeconomic
wellbeing of the Venezuela citizens.
Limitations of the Study
Since this study primarily focuses on the socioeconomic and political crisis facing
Venezuela after the recent election, its findings cannot represent the issues, concerns, effect or
outcome in the past regimes. Furthermore, this study will focus on the selection of a sample size
to represent the population under study. In reference to this, there is a high likelihood that the
sample size that will be selected will not present the ideas, thoughts or issues of the population
under study in entirety.
Assumptions
The major assumption in this study is that the selected sample size will be a
representation of the entire population under study. Therefore, the data that will be collected will
be an exact representation of everyone and a true picture of the socioeconomic and political
dynamics of Venezuela.
Theoretical Frame...