The Cuban economy: rectification in a changing world

Article Abstract:

The performance of the Cuban economy during the first part of the 1980's is rated as very strong considering that the global social product (GSP) averaged 7.3% annually, resulting to a GSP per capita of 6%. Likewise labor productivity rate was placed at 5.2% with investment expenditures reaching 18% higher than budgeted levels. In 1990, the Cuban economy contracted by about 5%, a trend which is likely to continue. In addition, political and economic developments in the former USSR and Eastern Europe has disrupted importations. Cuba is committed to rectification but remains wary of market-oriented reforms.

Cuba

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Accumulation in advanced economies: spatial, technological, and social frontiers

Article Abstract:

Advanced economies can only sustain their growth and continue to accumulate value by redrawing their social, technological and spatial boundaries. However, not all countries have the same opportunities, or can create the same opportunities, to expand their frontiers. In the 20th century, the UK has had few opportunities for frontier growth: capital-labour conflict hindered technological change; there were almost no spatial frontiers; and little chance of growth on the social frontier. However, boundaries have been redrawn as the economic role of the state has been reduced.

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Is low inflation an important condition for high growth?

Article Abstract:

There is no evidence to support the widespread notion that low inflation is an essential condition for a high and sustained economic growth rate and that a low inflation rate entails any disadvantages. This conclusion had been arrived at after comparing inflation and growth rates of various countries within a given period of time using simple numerical methods. Except for Germany, no other country successfully demonstrated that a low inflation rate is associated with growth and prosperity.

Inflation (Finance), West Germany, Inflation (Economics), Germany, West

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