Evaluation of Economic-Social Performance of Two Socialist Economic Models: Cuba (Central Plan) and China-Vietnam (Socialist Market)
This article compares and evaluates performance of two main current socialist economic-social models. One is Cuba’s central plan characterized by state large enterprises predominant over the market and private property, with mild market-oriented structural reforms that are ineffective in generating...
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| Format: | Article |
| Language: | English |
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Cambridge University Press
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| Series: | Latin American Research Review |
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| Online Access: | https://www.cambridge.org/core/product/identifier/S1542427823000536/type/journal_article |
| _version_ | 1797644440311955456 |
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| author | Carmelo Mesa-Lago |
| author_facet | Carmelo Mesa-Lago |
| author_sort | Carmelo Mesa-Lago |
| collection | DOAJ |
| description | This article compares and evaluates performance of two main current socialist economic-social models. One is Cuba’s central plan characterized by state large enterprises predominant over the market and private property, with mild market-oriented structural reforms that are ineffective in generating sustainable socioeconomic development. The other model is the successful Sino-Vietnamese “socialist market,” typified by small, medium, and some large private enterprises and the market, all predominant under a decentralized plan (a guideline rather than a central plan). In this the state regulates the economy and controls the largest enterprises. The article identifies the characteristics of the three countries, addresses potential barriers to comparison, and summarizes a history of the reforms and their five key economic policies in the three countries. It also assesses performance based on a selection of the twenty most relevant and comparable indicators, elaborates a composite average to rank the three countries, and discusses potential methodological issues. The conclusions summarize the results of the comparison, recommend reforms for Cuba based on successful Sino-Vietnamese policies, and outline the research agenda for the future. The article is an important contribution to the fields of comparative economics systems, socioeconomic development, methodology, and Latin American studies. |
| first_indexed | 2024-03-11T14:30:27Z |
| format | Article |
| id | doaj.art-a58d65a6c5794046ba776d7352d2451d |
| institution | Directory Open Access Journal |
| issn | 1542-4278 |
| language | English |
| last_indexed | 2024-03-11T14:30:27Z |
| publisher | Cambridge University Press |
| record_format | Article |
| series | Latin American Research Review |
| spelling | doaj.art-a58d65a6c5794046ba776d7352d2451d2023-10-31T08:54:52ZengCambridge University PressLatin American Research Review1542-427812110.1017/lar.2023.53Evaluation of Economic-Social Performance of Two Socialist Economic Models: Cuba (Central Plan) and China-Vietnam (Socialist Market)Carmelo Mesa-Lago0Department of Economics and Center for Latin American Studies, University of Pittsburgh, Pittsburgh, PA, USAThis article compares and evaluates performance of two main current socialist economic-social models. One is Cuba’s central plan characterized by state large enterprises predominant over the market and private property, with mild market-oriented structural reforms that are ineffective in generating sustainable socioeconomic development. The other model is the successful Sino-Vietnamese “socialist market,” typified by small, medium, and some large private enterprises and the market, all predominant under a decentralized plan (a guideline rather than a central plan). In this the state regulates the economy and controls the largest enterprises. The article identifies the characteristics of the three countries, addresses potential barriers to comparison, and summarizes a history of the reforms and their five key economic policies in the three countries. It also assesses performance based on a selection of the twenty most relevant and comparable indicators, elaborates a composite average to rank the three countries, and discusses potential methodological issues. The conclusions summarize the results of the comparison, recommend reforms for Cuba based on successful Sino-Vietnamese policies, and outline the research agenda for the future. The article is an important contribution to the fields of comparative economics systems, socioeconomic development, methodology, and Latin American studies.https://www.cambridge.org/core/product/identifier/S1542427823000536/type/journal_articlesocialist economic modelsreformsChinaCubaVietnamsocioeconomic performancecomparative methodologymodelos económicos socialistasreformasChinaCubaVietnamdesempeño económico socialmetodología comparative |
| spellingShingle | Carmelo Mesa-Lago Evaluation of Economic-Social Performance of Two Socialist Economic Models: Cuba (Central Plan) and China-Vietnam (Socialist Market) Latin American Research Review socialist economic models reforms China Cuba Vietnam socioeconomic performance comparative methodology modelos económicos socialistas reformas China Cuba Vietnam desempeño económico social metodología comparative |
| title | Evaluation of Economic-Social Performance of Two Socialist Economic Models: Cuba (Central Plan) and China-Vietnam (Socialist Market) |
| title_full | Evaluation of Economic-Social Performance of Two Socialist Economic Models: Cuba (Central Plan) and China-Vietnam (Socialist Market) |
| title_fullStr | Evaluation of Economic-Social Performance of Two Socialist Economic Models: Cuba (Central Plan) and China-Vietnam (Socialist Market) |
| title_full_unstemmed | Evaluation of Economic-Social Performance of Two Socialist Economic Models: Cuba (Central Plan) and China-Vietnam (Socialist Market) |
| title_short | Evaluation of Economic-Social Performance of Two Socialist Economic Models: Cuba (Central Plan) and China-Vietnam (Socialist Market) |
| title_sort | evaluation of economic social performance of two socialist economic models cuba central plan and china vietnam socialist market |
| topic | socialist economic models reforms China Cuba Vietnam socioeconomic performance comparative methodology modelos económicos socialistas reformas China Cuba Vietnam desempeño económico social metodología comparative |
| url | https://www.cambridge.org/core/product/identifier/S1542427823000536/type/journal_article |
| work_keys_str_mv | AT carmelomesalago evaluationofeconomicsocialperformanceoftwosocialisteconomicmodelscubacentralplanandchinavietnamsocialistmarket |