Analysis of Venezuela’s oil-oriented economy: from the perspective of entropy
Abstract To investigate the efficiency and stability of Venezuela’s oil-oriented economy, this paper applied entropy to the analysis. Based on this method, Venezuela’s oil-centered industry, inefficient regulatory system, and insensitive response to external changes are recognized as an increase in...
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KeAi Communications Co., Ltd.
2018
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oai:doaj.org-article:a4a842d2950148eb98f06e73b0a017f42021-12-02T02:42:57ZAnalysis of Venezuela’s oil-oriented economy: from the perspective of entropy10.1007/s12182-018-0215-41672-51071995-8226https://doaj.org/article/a4a842d2950148eb98f06e73b0a017f42018-01-01T00:00:00Zhttp://link.springer.com/article/10.1007/s12182-018-0215-4https://doaj.org/toc/1672-5107https://doaj.org/toc/1995-8226Abstract To investigate the efficiency and stability of Venezuela’s oil-oriented economy, this paper applied entropy to the analysis. Based on this method, Venezuela’s oil-centered industry, inefficient regulatory system, and insensitive response to external changes are recognized as an increase in the country’s entropy. According to these facts, a dissipative structure model is constructed to analyze the efficiency and stability of the Venezuela’s economic system. The results show that financial assistants (fund flow), policy reform (policy flow), and advanced technology (technology flow) can perform as negative entropy inflows (NEIFs). These NEIFs will promote a series of influence and feedback reactions, which will contribute to recovering Venezuela’s system efficiency and stability.Xian-Zhong MuGuang-Wen HuKeAi Communications Co., Ltd.articleVenezuelaOil-oriented economy systemResource curseEntropyDissipative structureScienceQPetrologyQE420-499ENPetroleum Science, Vol 15, Iss 1, Pp 200-209 (2018) |
| institution |
DOAJ |
| collection |
DOAJ |
| language |
EN |
| topic |
Venezuela Oil-oriented economy system Resource curse Entropy Dissipative structure Science Q Petrology QE420-499 |
| spellingShingle |
Venezuela Oil-oriented economy system Resource curse Entropy Dissipative structure Science Q Petrology QE420-499 Xian-Zhong Mu Guang-Wen Hu Analysis of Venezuela’s oil-oriented economy: from the perspective of entropy |
| description |
Abstract To investigate the efficiency and stability of Venezuela’s oil-oriented economy, this paper applied entropy to the analysis. Based on this method, Venezuela’s oil-centered industry, inefficient regulatory system, and insensitive response to external changes are recognized as an increase in the country’s entropy. According to these facts, a dissipative structure model is constructed to analyze the efficiency and stability of the Venezuela’s economic system. The results show that financial assistants (fund flow), policy reform (policy flow), and advanced technology (technology flow) can perform as negative entropy inflows (NEIFs). These NEIFs will promote a series of influence and feedback reactions, which will contribute to recovering Venezuela’s system efficiency and stability. |
| format |
article |
| author |
Xian-Zhong Mu Guang-Wen Hu |
| author_facet |
Xian-Zhong Mu Guang-Wen Hu |
| author_sort |
Xian-Zhong Mu |
| title |
Analysis of Venezuela’s oil-oriented economy: from the perspective of entropy |
| title_short |
Analysis of Venezuela’s oil-oriented economy: from the perspective of entropy |
| title_full |
Analysis of Venezuela’s oil-oriented economy: from the perspective of entropy |
| title_fullStr |
Analysis of Venezuela’s oil-oriented economy: from the perspective of entropy |
| title_full_unstemmed |
Analysis of Venezuela’s oil-oriented economy: from the perspective of entropy |
| title_sort |
analysis of venezuela’s oil-oriented economy: from the perspective of entropy |
| publisher |
KeAi Communications Co., Ltd. |
| publishDate |
2018 |
| url |
https://doaj.org/article/a4a842d2950148eb98f06e73b0a017f4 |
| work_keys_str_mv |
AT xianzhongmu analysisofvenezuelasoilorientedeconomyfromtheperspectiveofentropy AT guangwenhu analysisofvenezuelasoilorientedeconomyfromtheperspectiveofentropy |
| _version_ |
1718402242295365632 |