Cuban socialism as it has existed for the past three decades is increasingly unviable. Crisis in the Soviet Union has undermined the bulwark of the development model which, especially since the 1970s, had sustained the Cuban economy. Preferential sugar prices, below market petroleum prices, low-interest loans, and soft currency trade were essential for Cuba. Since […]
Comments by Jose Ramon de la Torre on “Lessons from Privatization in Eastern Europe and Latin America” by Luis Luis
I concur with Luis on the basic premise that privatization is an essential ingredient of a broad-based package of liberalization measures. Although costly and potentially disrupting in the short term, it must be done relatively fast and in parallel with the development of measures that provide the necessary infrastructure for the efficient function of a […]
Comments by Elias R. Ason on “Long-Term Objectives and Transitional Policies:A Reflection on Pazos’ Economic Problems of Cuba”
Felipe Pazos has expressed the view that in the transition from a centrally planned to a market economy, a policy of gradualism seems to be optimum. Hernandez-Cata differs from Pazos on this issue, proposing a more frontal and radical approach. I would argue that it will not be easy to sell such an approach to […]
International Tourism in Cuba: An Economic Development Strategy?
Introduction After registering impressive rates of growth during the first half of the 80s, the Cuban economy beginning in 1986 entered into a deep economic crisis, from which it has yet to emerge. The factors contributing to this crisis are many and complex in nature and can be attributed to both internal and external factors. […]
Membership Requirements in the IMF: Possible Implications for Cuba
This paper has been prepared for presentation at the First Annual Meeting of the Association for the Study of the Cuban Economy (ASCE) in Miami, Florida on August 16, 1991. The views expressed in this paper are those of the author and in no way represent the official views of the International Monetary Fund. This paper […]
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