IDEAS home Printed from https://ideas.repec.org/p/imf/imfwpa/2001-048.html
   My bibliography  Save this paper

The Fall and Recovery of the Cuban Economy in the 1990's: Mirage or Reality?

Author

Listed:
  • Mr. Ernesto Hernández-Catá

Abstract

The collapse of the Cuban economy following the cessation of Soviet assistance gave way to a strong recovery in 1994-96. There are three possible explanations for this recovery: (i) that it never took place; (ii) that it reflected a surge in productivity resulting from stabilization and liberalization in 1993-94; or (iii) that it resulted from a favorable aggregate demand shock. The second explanation-the most persuasive-suggests that a strong and durable expansion will probably not be achieved on the basis of present policies, but that the benefits of a full liberalization of the economy are likely to be considerable.

Suggested Citation

  • Mr. Ernesto Hernández-Catá, 2001. "The Fall and Recovery of the Cuban Economy in the 1990's: Mirage or Reality?," IMF Working Papers 2001/048, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2001/048
    as

    Download full text from publisher

    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=4066
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. José Alvarez, 2000. "Differences in Agricultural Productivity in Cuba's State and Nonstate Sectors: Further Evidence," Annual Proceedings, The Association for the Study of the Cuban Economy, vol. 10.
    2. de Melo, Martha & Denizer, Cevdet & Gelb, Alan, 1996. "Patterns of Transition from Plan to Market," The World Bank Economic Review, World Bank, vol. 10(3), pages 397-424, September.
    3. repec:umd:umdeco:betancourt9903 is not listed on IDEAS
    4. José F. Alonso & Armando M. Lago, 1995. "A First Approximation Model of Money, Prices and Exchange Rates in Revolutionary Cuba," Annual Proceedings, The Association for the Study of the Cuban Economy, vol. 5.
    5. Emily Morris, 2000. "Interpreting Cuba's External Accounts," Annual Proceedings, The Association for the Study of the Cuban Economy, vol. 10.
    6. Roger R. Betancourt, 1999. "Cuba's Economic "Reforms": Waiting for Fidel on the Eve of the Twenty-First Century," Annual Proceedings, The Association for the Study of the Cuban Economy, vol. 9.
    7. Wenli Li & Ms. Zuzana Brixiova & Tarik Yousef, 1999. "Skill Acquisition and Firm Creation in Transition Economies," IMF Working Papers 1999/130, International Monetary Fund.
    8. José F. Alonso & Ralph J. Galliano, 1999. "Russian Oil-For-Sugar Barter Deals 1989-1999," Annual Proceedings, The Association for the Study of the Cuban Economy, vol. 9.
    9. Jorge F. Pérez-López, 1995. "Coveting Beijing, But Imitating Moscow: Cuba's Economic Reforms in a Comparative Perspective," Annual Proceedings, The Association for the Study of the Cuban Economy, vol. 5.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ernesto Hernández-Catá, 2000. "The Fall and Recovery of the Cuban Economy in the 1990s: Mirage or Reality," Annual Proceedings, The Association for the Study of the Cuban Economy, vol. 10.
    2. Alex Segura-Ubiergo & Alejandro Simone & Sanjeev Gupta & Qiang Cui, 2010. "New Evidence on Fiscal Adjustment and Growth in Transition Economies," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 52(1), pages 18-37, March.
    3. Berkowitz, Daniel & DeJong, David N., 2002. "Accounting for growth in post-Soviet Russia," Regional Science and Urban Economics, Elsevier, vol. 32(2), pages 221-239, March.
    4. Singh, Rupinder & Laurila, Juhani, 1999. "Azerbaijan : Recent economic developments and policy issues in sustainability of growth," BOFIT Discussion Papers 5/1999, Bank of Finland, Institute for Economies in Transition.
    5. Auty, R. M., 2003. "Third time lucky for Algeria? Integrating an industrializing oil-rich country into the global economy," Resources Policy, Elsevier, vol. 29(1-2), pages 37-47.
    6. Morris Goldstein, 2017. "IMF Structural Programs," World Scientific Book Chapters, in: TRADE CURRENCIES AND FINANCE, chapter 16, pages 553-638, World Scientific Publishing Co. Pte. Ltd..
    7. Vadlamannati, Krishna Chaitanya, 2008. "Do Elections Slow Down Economic Globalization Process In India? It’S Politics Stupid !," MPRA Paper 10139, University Library of Munich, Germany.
    8. Kryeziu Liridon & Coşkun Recai, 2018. "Political and Economic Institutions and Economic Performance: Evidence from Kosovo," South East European Journal of Economics and Business, Sciendo, vol. 13(2), pages 84-99, December.
    9. Lerman, Zvi, 2001. "A Decade Of Land Reform And Farm Restructuring: What Russia Can Learn From The World Experience," Discussion Papers 14985, Hebrew University of Jerusalem, Department of Agricultural Economics and Management.
    10. Roberto Orro Fernández, 2000. "Has Cuba Definitely Found the Path to Economic Growth?," Annual Proceedings, The Association for the Study of the Cuban Economy, vol. 10.
    11. Cukierman, Alex & Miller, Geoffrey P. & Neyapti, Bilin, 2002. "Central bank reform, liberalization and inflation in transition economies--an international perspective," Journal of Monetary Economics, Elsevier, vol. 49(2), pages 237-264, March.
    12. Johan F. M. Swinnen & Liesbeth Dries & Karen Macours, 2005. "Transition and agricultural labor," Agricultural Economics, International Association of Agricultural Economists, vol. 32(1), pages 15-34, January.
    13. Mario A. González-Corzo, 2007. "Cuban Monetary Reforms and their Relationship with Policies to Attract Remittances During the Special Period," Annual Proceedings, The Association for the Study of the Cuban Economy, vol. 17.
    14. Facchini, Giovanni & Segnana, Maria Luigia, 2003. "Growth at the EU periphery: the next enlargement," The Quarterly Review of Economics and Finance, Elsevier, vol. 43(5), pages 827-862.
    15. Ariane Tichit, 1998. "Reprise économique dans les pays post-communistes : application d'un modèle de durée," Économie et Prévision, Programme National Persée, vol. 136(5), pages 73-92.
    16. Cevdet Denizer & Holger C. Wolf, 1998. "Household Savings in Transition Economies," NBER Working Papers 6457, National Bureau of Economic Research, Inc.
    17. repec:aia:aiaswp:wp96 is not listed on IDEAS
    18. Sharon Eicher, 2004. "Is Kazakhstan a Market Economy Yet? Getting Warmer ...," Development and Comp Systems 0403008, University Library of Munich, Germany.
    19. Desai, Padma, 1998. "Macroeconomic Fragility and Exchange Rate Vulnerability: A Cautionary Record of Transition Economies," Journal of Comparative Economics, Elsevier, vol. 26(4), pages 621-641, December.
    20. Thorsten Beck & Luc Laeven, 2006. "Institution building and growth in transition economies," Journal of Economic Growth, Springer, vol. 11(2), pages 157-186, June.
    21. Auty, Richard M, 1998. "Mineral wealth and the economic transition: Kazakstan," Resources Policy, Elsevier, vol. 24(4), pages 241-249, December.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:imf:imfwpa:2001/048. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Akshay Modi (email available below). General contact details of provider: https://edirc.repec.org/data/imfffus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.