Since the early 1990s, Cuba’s development strategy has given place of pride to the tourism sector. After neglecting the tourism industry for three decades, Cuba has more recently built a massive tourism infrastructure, capable of accommodating a very large flow of tourists. Cuban “sun and sand” tourism tends to be highly seasonal so that tourism […]
Cuba’s External Sector and the VI Party Congress
As the Cuban Communist Party convened its VI Congress in mid-April 2011, the external sector of Cuban economy continued to be under stress. Although the worst of the global financial crisis was over and international financial flows had begun to recover, Cuba faced a severe liquidity crunch. Speaking to the National Assembly of People’s Power […]
Dashed Expectations: Raúl Castro’s Management of The Cuban Economy, 2006–2010
On February 24, 2008, Cuba’s National Assembly of People’s Power (ANPP) elected Raúl Castro as the nation’s President. The younger Castro (76 years old at the time) had served as interim President since early August 2006, when older brother Fidel (nearly 80 years old at the time) vacated the post because of illness. This transfer […]
Revolutionary Cuba’s GDP: A Survey of Methods and Estimates
Notes1 In the 1990s, Cuba shifted the methodology of compiling its national account statistics from the Material Product System (MPS), used by centrally planned economies (CPEs), to the System of National Accounts (SNA) used by market economies. While there are some questions about how robustly Cuban statistical agencies currently are applying the SNA methodology,2 unquestionably […]
Cuban GDP Statistics Under the Special Period: Discontinuities, Obfuscation, and Puzzles
For nearly three decades—from 1962 through 1989—Cuban national income and product accounts were constructed based on the Material Product System (MPS), a methodology developed by the former Soviet Union and applied by other socialist countries. MPS aggregates were not comparable to those of most other nations, who followed the System of National Accounts (SNA) developed […]
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