Cuba's post-revolutionary economic history was penalized by the twin sets of distortions stemming from its former, artificial trade relations with the Soviet Union and from the very nature of the state socialist model. Yet, Cuba's centralized resource allocation system and the consistent...

Cuba’s post-revolutionary economic history was penalized by the twin sets of distortions stemming from its former, artificial trade relations with the CMEA and from the very nature of the state socialist model, let alone the severe costs imposed by the US embargo. Conversely, Cuba’s...