Notes1 In his thoughtful analysis of economic problems of Cuba during the transition to a democratic, market economy, delivered in December 1990 to the Association for the Study of the Cuban Economy (ASCE) as the first Carlos Díaz-Alejandro Lecture, Felipe Pazos wrote: Cuba will have to integrate (reincorporar) businessmen, managers, engineers and all sorts of […]

Notes1 A small, island economy with a limited natural resource base, Cuba has traditionally depended on flows of goods, services and capital from abroad to increase its national wealth.2 The high degree of openness of the Cuban economy, and hence the disproportionate importance of the external sector, can be illustrated with a few statistics. In […]

Bilateral investment treaties (BITs), intended to promote and protect foreign investment, are relatively new but increasingly common instruments in international economic relations.1 According to the specialized agency of the United Nations that tracks international investment, 1,332 BITs had been concluded by the end of 1996.2 While BITs were originally conceived as accords between developed and […]

Notes1 Corruption, the misuse of public property for private gain, is as old as government itself. Kautilya, Chief Minister to the King in ancient India, wrote in the fourth century B.C. in his Arthasastra: Just as it is impossible not to take the honey (or the poison) that finds itself at the tip of the […]