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A New Chapter in US-Cuba RelationsForeign Direct Investment in Cuba: A Necessity and a Challenge

A New Chapter in US-Cuba Relations: Foreign Direct Investment in Cuba: A Necessity and a Challenge [Foreign investors, absent since the 1959 Revolution, returned to the Cuban economy at the beginning of the 1990s in the context of the so-called Special Period. In certain spheres, such as tourism, foreign capital was very dynamic and propelled fundamental structural change. In general, however, the isolation of external investment projects from the overall economy—and the persistence of administrative bottlenecks that fostered this separation—created idiosyncrasies that converted the Cuban case into a sui generis for the absorption of international capital. This was evident in the government’s insistence on considering each investment proposal separately, as well as in the use of a currency other than the Cuban peso to implement all agreements. As a result of these obstacles, after a period of steady expansion until 2003, foreign investment in Cuba stagnated despite various measures targeted toward its stimulation.] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

A New Chapter in US-Cuba RelationsForeign Direct Investment in Cuba: A Necessity and a Challenge

Part of the Studies of the Americas Book Series
Editors: Hershberg, Eric; LeoGrande, William M.
Villanueva, Omar Everleny Pérez
A New Chapter in US-Cuba Relations — Apr 18, 2016
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16 pages

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References (1)

Publisher
Springer International Publishing
Copyright
© The Editor(s) (if applicable) and The Author(s) 2016
ISBN
978-3-319-31151-7
Pages
143 –159
DOI
10.1007/978-3-319-29595-4_11
Publisher site
See Chapter on Publisher Site

Abstract

[Foreign investors, absent since the 1959 Revolution, returned to the Cuban economy at the beginning of the 1990s in the context of the so-called Special Period. In certain spheres, such as tourism, foreign capital was very dynamic and propelled fundamental structural change. In general, however, the isolation of external investment projects from the overall economy—and the persistence of administrative bottlenecks that fostered this separation—created idiosyncrasies that converted the Cuban case into a sui generis for the absorption of international capital. This was evident in the government’s insistence on considering each investment proposal separately, as well as in the use of a currency other than the Cuban peso to implement all agreements. As a result of these obstacles, after a period of steady expansion until 2003, foreign investment in Cuba stagnated despite various measures targeted toward its stimulation.]

Published: Apr 18, 2016

Keywords: Foreign Direct Investment; Foreign Investment; Foreign Firm; Foreign Capital; Foreign Direct Investment Inflow

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