title: Assessing the conundrums of the Cuban economy under the revolution (1959–2019)
metadata.name: dc.contributor.author
metadata.value: Mesa-Lago, Carmelo
metadata.lang: -
metadata.name: dc.date.accessioned
metadata.value: 2021-03-03T20:08:50Z
metadata.lang: -
metadata.name: dc.date.available
metadata.value: 2021-03-03T20:08:50Z
metadata.lang: -
metadata.name: dc.date.issued
metadata.value: 2020-09
metadata.lang: -
metadata.name: dc.identifier.citation
metadata.value: Mesa-Lago C. (2020) Assessing the conundrums of the Cuban economy under the revolution (1959–2019). St Petersburg University Journal of Economic Studies, vol. 36, iss. 3, pp. 455–482.
metadata.lang: en_GB
metadata.name: dc.identifier.other
metadata.value: https://doi.org/10.21638/spbu05.2020.305
metadata.lang: -
metadata.name: dc.identifier.uri
metadata.value: http://hdl.handle.net/11701/25130
metadata.lang: -
metadata.name: dc.description.abstract
metadata.value: This article evaluates the resilient challenges faced by Cuba’s economy during the six decades
  of the Revolution (1959–2019), mainly its historical external economic dependency upon a
  foreign country (the USSR and Venezuela) and the adverse consequences that occur when
  such relationship ends or deteriorates. Several hypotheses address that issue as well as others
  such as the hindrance of the US embargo/blockade aggravated by Donald Trump’s punitive
  sanctions and Cuban continuity of a centrally planned economy and predominance of state
  enterprises over the market and the non-state sector. The core is an analysis of performance of
  key economic indicators: GDP growth, gross capital formation, financial stability, mining-industry-
  agriculture output, tourism and exports of professional services. Hypotheses are tested
  with long-term statistical series elaborated and scrutinized by the author over half a century
  based on Cuban official sources, as well as legislation, articles by Cuban scholars and from
  news media. Among the results: external dependency has declined somewhat but demands
  deeper economic reforms, there are no countries currently capable and willing to fully replace
  Venezuela’s substantial aid, the ongoing crisis provoked by the deteriorating Venezuelan
  economy cum Trump’s sanctions should have lesser adverse effects than the 1990s crisis that
  resulted from the USSR disappearance. The article is a significant contribution to the study
  of Cuba’s external economic dependence and its consequences, and should be also worthy for
  other small economies and socialist countries.
metadata.lang: en_GB
metadata.name: dc.language.iso
metadata.value: en
metadata.lang: en_GB
metadata.name: dc.publisher
metadata.value: St Petersburg State University
metadata.lang: en_GB
metadata.name: dc.relation.ispartofseries
metadata.value: St Petersburg University Journal of Economic Studies;Volume 36; Issue 3
metadata.lang: -
metadata.name: dc.subject
metadata.value: Cuban economy 1959–2019
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: external economic dependence
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: USSR and Venezuela economic relationships
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: evaluation of economic performance
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: impact of Venezuelan crisis and Trump sanction on Cuba
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: crises
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: anti-crisis policies
metadata.lang: en_GB
metadata.name: dc.title
metadata.value: Assessing the conundrums of the Cuban economy under the revolution (1959–2019)
metadata.lang: en_GB
metadata.name: dc.type
metadata.value: Article
metadata.lang: en_GB
resources.filename: 455-482.pdf
resources.url: https://dspace.spbu.ru/bitstream/11701/25130/1/455-482.pdf
resources.format: Adobe PDF
resources.size: 1,11 MB