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Title: Internal and External Constraints of the Cuban Production Sector
Author: Palacios Cívico, J. C. (Juan Carlos)
Keywords: Creixement econòmic
Oferta i demanda
Equacions simultànies
Economic growth
Supply and demand
Simultaneous equations
Issue Date: 1-Mar-2021
Publisher: Wiley
Abstract: This paper aims to explain the growth of the Cuban production sector between 1975 and 2014 in a more comprehensive way, by considering both demand and supply factors simultaneously. The research provides new empirical data on this topic through the application of a simultaneous equation model that considered the effect on the product of internal and external constraints most relevant to the Cuban economy, and the impact of these over time. Its results confirm that the growth of the Cuban production sector was primarily limited by two factors: On the one hand, an overly centralized regulatory framework that reduces the global efficiency of the Cuban economy; and, on the other hand, a foreign exchange deficit that restricts its import capacity and the sustained growth of the Cuban capital stock. Therefore, the Cuban production sector's growth could be fostered by both a greater decentralization of its regulatory framework and the implementation of industrial and commercial policies geared to make Cuban exports more competitive.
Note: Versió postprint del document publicat a:
It is part of: Growth and Change. A Journal of Urban and Regional Policy, 2021, vol. 52, num. 1, p. 492-517
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ISSN: 0017-4815
Appears in Collections:Articles publicats en revistes (Història Econòmica, Institucions, Política i Economia Mundial)

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