Author’s note Cuba has two official currencies: the Convertible Peso (CUC) is linked to foreign trade and is used by a relatively small segment of the population; the Cuban Peso (CUP) is used by the rest. There is a significant gap between the external value of these two currencies, with the CUC trading about at […]
Prospects For Reform in Cuba: Is Raúl Castro Serious About Liberalizing the Cuban Economy?
Notes1 “Nations that have endured patiently and almost unconsciously the most overwhelming oppression often burst into rebellion against the yoke the moment it begins to grow light. Experience teaches that the most critical moment for bad governments is the one which witnesses the first steps toward reform.” —Alexis de Tocqueville, 18562 This paper speculates on […]
From Dead Ends and Blind Corners to Open Highways: Traveling Down the Road to Cuban Economic Liberalization
Notes1 Much has been written about the policies that will need to be pursued when Cuba begins to re-insert itself in the global economy as it opens its markets and joins the ranks of modern democracies. In our writings, we have tended to assume that once a Cuban government bent on reform begins the process […]
2007 Preface
This 17th Volume of Cuba in Transition publishes the Proceedings of the annual meeting of the Association for the Study of the Cuban Economy (ASCE), held on August 2-4, 2007 at the Radisson Miami Hotel Miami, Florida. Scholars and experts on a wide array of transition issues participated and presented papers on subjects as diverse […]
Inflation Targeting: Monetary Policy Contribution to a Rules-Based Approach to Managing the Cuban Economy
Notes1 It gives me great pleasure to have been invited to this conference to share some thoughts with this distinguished and well informed audience on how monetary policy could contribute to a transition from the present situation in Cuba’s economy, where arbitrary policies dominate decision-making, to a governing framework that produces economic decisions that markets […]