Dollarisation and Plan: The Cuban Case

Virgili, Teresa and Xalma, Cristina (2006) Dollarisation and Plan: The Cuban Case. Acta Oeconomica, 56 (4). pp. 423-448. ISSN 0001-6373

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Abstract

This paper deals with the process of economic reform established by the Cuban government after the disintegration of the Soviet Block. Therefore, the legalisation of the possession and use of US dollar (1994-2004) will be specifically analysed, as well as the measures to canalise US dollars in order to achieve strategic economic recovery carefully planned to support - rather than to betray - Cuban social revolution. Consequences of the application of these measures, such as necessary changes in economic planning, economic and monetary duality, as well as the operative function concerning planning and market in economic management are also analysed. In addition, the paper also examines the de-dollarisation process.

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