2015 Paper Reveals Important Insights into Cuban Economy

Jorge Dominguez
Image: people.fas.harvard.edu

A former professor at Harvard University, Jorge Dominguez achieved the distinction of becoming the institution’s first vice provost for international affairs before retiring in 2018. With a focus on Latin American politics, Jorge Dominguez regularly shared his insights in newspaper and magazine articles, including the paper “What You Might not Know About the Cuban Economy,” published in the Harvard Business Review.

The article furnished a comprehensive look at the history of the Cuban economy, backed up by statistics to help readers understand how the country may develop following the restoration of Cuban-U.S. ties in 2014. For instance, it highlighted the fact that the country’s gross domestic product per capita in 1985 was approximately the same as in 2015. Further, the Cuban economy hadn’t effectively recovered since the 2008-2009 financial crisis, and, at the time of the article’s publication, the annual growth rate had the potential to be close to zero.

One of the positive aspects of the Cuban economy the article focused on was the country’s sustained investment in human capital. Individuals in the Cuban workforce are well-educated and furnished inexpensive services, and these assets could be enhanced through smart investment and government legislation.