Economic Normalization with Cuba: A Roadmap for US Policymakers

Economic Normalization with Cuba: A Roadmap for US Policymakers

by Gary Clyde Hufbauer, Barbara Kotschwar
     
 

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For more than 50 years the United States has attempted to destabilize and isolate the Castro regime in Cuba with the use of trade and financial sanctions, a policy that has fallen short of its objective. In this Policy Analysis, Gary Clyde Hufbauer and Barbara Kotschwar suggest that the sands of time may accomplish what economic pressure did not. Raúl Castro,…  See more details below

Overview

For more than 50 years the United States has attempted to destabilize and isolate the Castro regime in Cuba with the use of trade and financial sanctions, a policy that has fallen short of its objective. In this Policy Analysis, Gary Clyde Hufbauer and Barbara Kotschwar suggest that the sands of time may accomplish what economic pressure did not. Raúl Castro, president of Cuba since 2008, plans to step down at the end of 2018, implying a new regime in five years. Various forces are starting to emerge favoring economic normalization if Cuba appears ready to change its policies as well as its leadership. The authors caution, however, that a unilateral dismantling of US sanctions without insuring that proper institutions are in place in Cuba could squander a golden opportunity for US companies. They argue that a new US-Cuba relationship must entail a lifting of Cuba’s barriers to trade and investment, liberalization of its economy, and the adoption of democratic institutions. They offer a roadmap for a future US-Cuba rapprochement.

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Product Details

ISBN-13:
9780881326833
Publisher:
Peterson Institute for International Economics
Publication date:
05/05/2014
Series:
Policy Analyses in International Economics , #102
Sold by:
Barnes & Noble
Format:
NOOK Book
File size:
4 MB

Meet the Author

Gary Clyde Hufbauer is the Reginald Jones Senior Fellow at the Peterson Institute for International Economics. He has written extensively on international trade, investment, and tax issues. Among his many award-winning books are Outward Foreign Direct Investment and US Exports, Jobs, and R&D: Implications for US Policy (2013), Economic Sanctions Reconsidered (2008), and NAFTA Revisited: Achievements and Challenges (2005). Barbara Kotschwar, research fellow at the Peterson Institute for International Economics, is also adjunct professor of Latin American studies and economics at Georgetown University. She is coauthor of Understanding the Trans-Pacific Partnership (2013) and Reengaging Egypt: Options for US-Egypt Economic Relations (2010).

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