중남미

This paper concerns the creation and development of Inclusive Institutions in Venezuela under Hugo Chavez for the purpose of assessing the sustainability of the Bolivarian Revolution. It also emphasizes that the model created and applied by Chavez to the Venezuelan society is actually a variation of endogenous growth theory originated to Romer(1986) and Lucas(1988). In theory, an endogenous Venezuelan economy would be more self-sufficient and would favor products made in Venezuela by Venezuelans. Endogenous development has become a term encompassing nearly all the goals of the Bolivarian Revolution. After examining various issues and indices such as World Governance Index, Freedom House Index, Human Development　Index with regard to democratic governance and socioeconomic development of a state, the paper draws a conclusion that the endogenous model has been installed as an inclusive institution in Venezuela during the period of Chavez. The model is the one oriented towards the eradication of poverty, improvement in the quality of life and the creation of a new economic and social model of development. It concludes that much of the criticism towards Chavez is not evidence based but emotionally oriented although there’s still an on-going debate over the responsibility of Chavez in deeply dividing Venezuelan society into two parts. Finally some implications are drawn from the Venezuelan case to the way enriching theoretical debates on development.