A perfect impasse? Cuba’s move towards the market and the U.S. move towards Cuba

Wilkinson, Stephen (2017) A perfect impasse? Cuba’s move towards the market and the U.S. move towards Cuba. Economic Affairs, 37 (1). pp. 19-35. ISSN 1468-0270

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Abstract

This article firstly analyses the internal economic trajectory of the Cuban economic reforms and evaluates their effectiveness in delivering the extensive and intensive development needed to resolve Cuba’s structural and economic imbalances. It concludes that without the lifting of the U.S. economic sanctions, success will at best be only partial, with serious implications for long-term stability. The article then evaluates the reasons for the U.S. economic sanctions against Cuba and argues that while the embargo policy might have failed to topple the Cuban communist regime, it has served other, largely unacknowledged, purposes that are important in understanding why the policy has persisted. The article concludes by suggesting that the U.S. is not likely to jettison the sanctions regime while Cuba remains a single party, state led economic system. At the same time, Cuba is not likely to jettison its single party system while the sanctions remain.

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