Small businesses form the productive foundation of most mixed economies around the world. They provide an effective outlet for entrepreneurial initiative and ability, they fill market niches that are not profitable for larger firms, and they create jobs in a wide variety of occupations. The encouragement of small business growth has been a major concern […]
Dual Monetary Systems in the Western Hemisphere and the Cuban Transition
When the Cuban economy begins its ultimate transition from a centralized system to a market-oriented system, the experience will be both prolonged and disruptive of normal economic activity. Policymakers must confront the need for extensive structural changes, while having to deal with equally significant political and economic stresses. The institutional arrangements chosen by the transitional […]
Hemispheric Trade Alignments and the Trade Options for Post-transition Cuba
Note[ref]The authors wish to thank Prof. Maria Dolores Espino and other attendees of the Third Annual Meeting of the Association for the Cuban Economy for their helpful comments.[/ref] I. INTRODUCTION International trade relationships have changed significantly during the past decade. While almost all of the trade liberalization during the preceding forty years occurred in a […]