October 12, 2001 - 6:00 PM
Evaldo A. Cabarrouy
Professor of Economics and Finance, University of Puerto Rico
For three decades Cuba’s economic policy gave the State a leading role in the production of goods and services, with a marked predominance of planning over the market mechanism in the regulation of economic activity. In 1989, the sudden dissolution of its very special linkages with the Socialist countries forced Cuba to make profound reforms in its economy and to change the rules previously governing its social life. Though the State continues to play an important role in production and resource allocation, a “second economy” has risen and gradually become more consolidated with the formation of mixed-capital enterprises, and the increase in the number of actors in the liberalized markets. These departures from the system of centralized planning has given rise to a “mixed socialist economy” (economía mixta de carácter socialista) in which both the State and the market coexist, with no clear delineation in resource allocation or the coordination of economic activity.
This seminar will examine the country’s economic performance during the last decade and analyze the major problems that affect the evolution of the Cuban economy and society. More specifically, the main objective of the seminar is to explore some of the main economic issues and problem-areas of the economy in the 1990s. The Friday session begins with an introductory general background to the Cuban economy followed by an examination of the economic reforms experienced in the 1993–1999 period. The Saturday sessions will focus on specific key economic sectors, the economic impact of U.S. economic sanctions, and the possibilities of business opportunities in Cuba.
Friday: $25, $20 Students;
Saturday: $110, $100 Students;
Both dates: $120, 110 Students.