156
views
0
recommends
+1 Recommend
1 collections
    0
    shares

      If you have found this article useful and you think it is important that researchers across the world have access, please consider donating, to ensure that this valuable collection remains Open Access.

      International Journal of Cuban Studies is published by Pluto Journals, an Open Access publisher. This means that everyone has free and unlimited access to the full-text of all articles from our international collection of social science journalsFurthermore Pluto Journals authors don’t pay article processing charges (APCs).

      scite_
       
      • Record: found
      • Abstract: found
      • Article: found
      Is Open Access

      CUBA'S BANKING CRISIS: MACROECONOMIC ANTECEDENTS, PRINCIPAL CAUSES, AND RECENT POLICY RESPONSES

      research-article
      ,
      International Journal of Cuban Studies
      Pluto Journals
      Bookmark

            Abstract

            Conditions in Cuba's banking and financial sector have deteriorated significantly caused by a balance of payment crisis, de-dollarisation, the centralisation of hard currency transactions, and a fixed exchange rate regime. The crisis has negatively impacted the real economy, particularly the availability and cost of credit, the influx of foreign direct investment, and the country's international trade. The most visible consequence of the crisis is the growing scarcity of consumer goods, particularly in the case of imported products and inputs, that is affecting the nation's wholesale and retail distribution systems. Cuba responded to crisis by implementing a strict austerity programme, fiscal transformations, and institutional and structural changes. So far, these changes appear to be insufficient, and more profound economic transformations are required to surpass the crisis, while retaining the positive elements of the Cuban model, particularly on the social front.

            Content

            Author and article information

            Journal
            intejcubastud
            10.2307/j50005551
            International Journal of Cuban Studies
            Pluto Journals
            17563461
            1 October 2010
            1 December 2010
            : 2
            : 3/4
            : 201-216
            Article
            10.2307/41945902
            67af8b81-6012-4038-9da4-5aafab20e232
            © INTERNATIONAL INSTITUTE FOR THE STUDY OF CUBA

            All content is freely available without charge to users or their institutions. Users are allowed to read, download, copy, distribute, print, search, or link to the full texts of the articles in this journal without asking prior permission of the publisher or the author. Articles published in the journal are distributed under a http://creativecommons.org/licenses/by/4.0/.

            History
            Categories
            Academic Articles

            Literary studies,Arts,Social & Behavioral Sciences,History,Cultural studies,Economics

            Notes

            1. Vidal Alejandro (2008) González-Corzo (2006)

            2. Luis (2010)

            3. Torres (2008)

            4. Espina (2008)

            Comments

            Comment on this article