In the 1990s, during the unending economic crisis known as the “special period in time of peace,” foreign investment became an important factor for Cuba. Not only did foreign investors provide badlyneeded capital inflows, but they also provided management know-how, technology, raw materials, and markets for goods and services produced in the island. 1 It […]
The Legacies of Socialism: Some Issues for Cuba’s Transition
Notes1 For the last 40-odd years, Cuba’s ruling government has actively sought to eliminate the institutions that prevailed in Republican Cuba and to replace them with institutions that support a socialist, centrally-directed economy. The Cuban socialist regime undermined the institutions it inherited: eliminated private property, disassembled the legal framework that enabled private enterprise and decentralized […]
The Cuban Economy in 2002–2003
Notes1 The amount of information on the current condition of the Cuban economy available as of mid-2003 is very limited in comparison to what had become customary in recent years. Not available at this time are: (1) the official statistical yearbook for 2002 or a preliminary statitistical summary; and (2) the report of the Banco […]
The Cuban Economy in an Unending Special Period
Notes1 Speaking to the Cuban nation on November 2, 2001, President Fidel Castro described at length the ongoing world economic crisis, worsened by the September 11 terrorist attacks on New York City and Washington. Castro spoke about its impact on Cuba’s economy, particularly on the external sector, as world market prices for the island’s commodity […]
Combating Corruption in Post-Castro Cuba
Notes1 The Cuban transition from a totalitarian state to a more politically open form of government with a market-oriented economy will entail a vast transformation of the country’s institutions. While daunting, this process offers many opportunities. Cuba can learn from the experiences—positive and negative— of other nations that have gone through similar processes and adopt […]