Cuba's Aborted Reform: Socioeconomic Effects, International by Carmelo Mesa-Lago

By Carmelo Mesa-Lago

This quantity analyzes Cuban socioeconomic regulations and evaluates their functionality because the cave in of the Soviet Union and the socialist camp. It presents a quick historic history to the concern and analyzes intimately the deterioration and incomplete restoration considering that 1990. evaluating Cuba’s functionality with that of different Latin American and previous socialist nations, it summarizes the perspectives of famous Cuban economists and proposes regulations that architects of the Cuban transition could desire to installed position after the passing of Castro.

Focusing on financial and social regulations and function throughout the “Special interval in Time of Peace” (1990-2004), the authors draw on a magnificent array of facts (synthesized in 28 tables) to teach that during 2005 Cuba has but to come back to fiscal degrees of the overdue Eighties, and the entry and caliber of a number of the hugely touted social services--education, overall healthiness care, social safety, housing--also haven't been restored to the degrees accomplished sooner than the industrial problem caused through the cave in of the Soviet Union. in the meantime, they argue, poverty has extended and unequal entry to overseas remittances mixed with increasing source of revenue ameliorations have exacerbated social inequalities and widened the intake hole among people with entry to not easy forex and people without.

The authors show that governmental issues a few strengthening inner most quarter leading to lack of political keep an eye on eventually caused the Cuban management to prioritize political over monetary ends. It aborted the modest market-oriented reforms of 1993-1996 and really reversed them in 2003-2004, recentralized the financial system, tremendously decreased the constrained areas for personal fiscal task, exerted expanding keep watch over over tough forex, prohibited the circulate of the buck, and stepped up repressive measures on peaceable dissidents. Centralized financial regulate has been absolutely restored, although it will certainly lead to additional deterioration of monetary stipulations and declining criteria of residing.  

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Additional info for Cuba's Aborted Reform: Socioeconomic Effects, International Comparisons, and Transition Policies

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They acknowledged that the private sector was capable of making positive contributions (for example, eliminating the state monopoly on certain products, promoting competition and raising efficiency, creating new sources of productive employment) but they feared a snowball effect as an expanded private sector would increase demand for inputs, accumulate wealth, and present a challenge to the state. The potential disappearance or substantial weakening of the social safety net was also a concern: (1) high 18 / Cuba’s Aborted Reform unemployment would create serious economic and social problems; (2) significant inequality in income and in access to goods and services would weaken population unity; (3) price increases would adversely affect the consumption level of low-income groups; and (4) social services would deteriorate overall.

Technical and financial assistance from the USSR underwrote the expansion of nickel production and exports. Tourism became an important source of foreign exchange. Finally, export capability expanded for citrus, fish, and shellfish. The long length of this cycle—15 years, the longest under the revolutionary government—coupled with the gradual improvement in the quantity and quality of Cuban economic statistics, made it possible to assess the effects of Economic and Social Policies, 1959–2004 / 13 the policies implemented during this period.

Annual variation of the CPI. b. At constant 1981 prices through 2000; in 2001 shifted to 1997 prices (see text); the 2001–2002 rates are authors’ estimate based on ECLAC, Balance preliminar 2001, 2002. a. Most 2001–2003 data are not comparable with previous data because of a change in price base. Sources: CEE 1991; ONE 1998–2003; BCC 2000–2002; ECLAC, Cuba 2004, Política social 2003. 2 1989 GDP growth rateb Indicator Table 2. Cuban Macroeconomic Indicators, 1989–2003 (in percentages) The Economic Crisis, Partial Recovery, and Stagnation / 29 30 / Cuba’s Aborted Reform Table 3.

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