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Wealth distribution in Cuba (2006–2014): a first assessment using microdata1

Dayma Echevarría, Alberto Gabriele, Sara Romanò and Francesco Schettino ()

Cambridge Journal of Economics, 2019, vol. 43, issue 2, 361-383

Abstract: Recently, a trend towards increasing inequality has been detected in both developed and developing countries. Most of these studies have been focusing on formal monetary variables, since capitalism is a socioeconomic system where monetary relations play a paramount role. However, the distribution of non-monetary assets is also very important, especially so in less developed countries. This paper applies a PCA methodology to analyse the distribution of non-monetary wealth in Cuba, a socialist country where the role of monetary relations is relatively minor. Utilizing the MICS-UNICEF ‘microdata’, the paper provides for the first time an estimation of wealth distribution for three years (2006, 2011, 2014), by area and region. The main results show a non-monotonic wealth inequality reduction. The initial worsening (2006–11) is more than counterbalanced by a recent improvement (2011–14).

Keywords: Cuba; Wealth distribution; Inequality; Asset index (search for similar items in EconPapers)
Date: 2019
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Handle: RePEc:oup:cambje:v:43:y:2019:i:2:p:361-383.