CUBA: DOLLAR CRUNCH, DOLLARIZATION AND DEVALUATION Luis R. Luis Cuba faces an acute balance of payments crisis aggravated by the COVID 19 pandemic. The balance of payments crisis in turn is reflected in severe shortages of foodstuffs, medicines and other essential goods. So far measures taken to deal with the crisis are largely fiscal […]
Cuba’s Uncertain Revenues from Medical Exports
CUBA’S UNCERTAIN REVENUES FROM MEDICAL EXPORTS Luis R. Luis It is well known that exports of medical and other professional services are Cuba’s largest source of export income, surpassing tourism and outstripping merchandise exports. It is also a controversial income source as doctors are treated as mere appendages of the Cuban state deprived of […]
Exit and Participation: Responses to Declining Membership in Small Civil Society Organizations
EXIT AND PARTICIPATION: RESPONSES TO DECLINING MEMBERSHIP IN SMALL CIVIL SOCIETY ORGANIZATIONS Roger R. Betancourt In a classic work titled ‘Exit, Voice and Loyalty: Responses To Declining Membership in Firms, Organizations and States’, Albert O. Hirschman suggested that there was a third factor linking exit (leaving the firm organization or state) to voice (acting in […]
The Misery of Cuban Merchandise Exports and the Sustainability of the Balance of Payments
The Misery of Cuban Merchandise Exports and the Sustainability of the Balance of Payments Ernesto Hernández-Catá The evolution of Cuba’s merchandise exports since the early 1990s is a source of deep concern. The value of exports stagnated during the 1990s and fell in relation to GDP, mostly because of the collapse in sugar exports. The […]
Remittances to Cuba Revisited: Impact of New Measures
REMITTANCES TO CUBA REVISITED: IMPACT OF NEW MEASURES[1] Luis R. Luis As many other developing nations Cuba depends on personal remittances as a sizable source of foreign exchange and support for families and small enterprises in the informal economy. This does not escape the government of Cuba which tries to exert control over these […]
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