Remittances and Their Unintended Consequences in Cuba
AbstractSummary After Soviet aid and trade ended Cuba was forced to reintegrate into the capitalist world economy. Needing hard currency, the government transformed the diaspora into a dollar attaining strategy, by facilitating and tacitly encouraging remittance-sending. Ordinary Cubans themselves wanted remittances to finance a lifestyle they could not otherwise afford. Despite their shared interest in remittances, the government increasingly appropriated remittances at recipients' expense. The article documents why the government encouraged remittance-sending, tensions between its interests in remittances and those of recipients, and contradictions inherent in the hard currency accumulation strategy that the government pursued while remaining politically committed to revolution-linked precepts.
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Bibliographic InfoArticle provided by Elsevier in its journal World Development.
Volume (Year): 38 (2010)
Issue (Month): 7 (July)
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Web page: http://www.elsevier.com/locate/worlddev
Latin America Cuba remittances economic crisis economic restructuring socialism;
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Devesh KAPUR, 2004. "Remittances: The New Development Mantra?," G-24 Discussion Papers 29, United Nations Conference on Trade and Development.
- Ibrahim Sirkeci & Jeffrey H. Cohen & Dilip Ratha, 2012. "Migration and Remittances during the Global Financial Crisis and Beyond," World Bank Publications, The World Bank, number 13092, March.
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