Cuba: Restructuring the Economy: A Contribution to the Debate/The Bolivian Experiment: Structural Adjustment and Poverty Alleviation

In his concluding chapter, Van Dijck rightly points to the low level of especially private investment as one of the causes for low growth. Since 1985, public investment has exceeded private investment, only to be reversed at about 1995. According to Van Dijck, private investment has been crowded out...

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Bibliographic Details
Published in:European review of Latin American and Caribbean studies 2001-10 (71), p.159
Main Author: A Geske Dijkstra
Format: Article
Language:English
Subjects:
Anti inflation
Antipoverty programs
Economic growth
Economic models
Education
Latin American studies
Liberalization
Macroeconomics
Neoliberalism
Poverty
Rural areas
Structural adjustment
Terms of trade
Tourism
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Summary:In his concluding chapter, Van Dijck rightly points to the low level of especially private investment as one of the causes for low growth. Since 1985, public investment has exceeded private investment, only to be reversed at about 1995. According to Van Dijck, private investment has been crowded out by public investment via the high interest rate induced by the financing of the public deficit (p.35). There has been progressive opening to foreign investment, not only in tourism but also in other sectors. Since 1995, no sector is excluded from foreign participation, approval being given on a case-by-case basis. The opening of legalized foreign exchange offices that could trade at higher rates than the official exchange rate led to a reduction of the black market rate of the peso.
ISSN:0924-0608
1879-4750