Money, Finance and Growth in Cuba

Published: 11-07-2020| Version 3 | DOI: 10.17632/wxgdyr5ppd.3
Reynaldo Senra Hodelin


Data on currency in circulation, M2A and banking deposits in Cuba from 1974 to 2018 plus the following series taking from World Development Indicators: government consumption, gross capital formation, gross fixed capital formation, trade and GDP per capita. All series but GDP per capita are built dividing the nominal values by the nominal GDP. The raw data for end of period amount outstanding currency in circulation and ordinary savings was obtained from two main sources. The time series from the Cuban Statistical Office (ONEI) for the period 1990-2018 and the Statistical Yearbook of Cuba 1989 for the period 1974-1989. For this last period (1974-1989) the source statistics only published the nominal increases over the year and, therefore, the end of period amount outstanding figures were calculated taking the end of period value in 1990. It is important to indicate that it is possible to build the series for nominal increases from 1975 to 2018 by extracting the data from the Statistical Yearbook 1989 and several other for the most recent period (all them publishing both the increases and the end of period amounts outstanding). Between 1989 and 2018, there was a coincidence between the end of period amount outstanding figure and the sum of the amount outstanding in the previous year plus the increases over the year. There were just some years of minimal discrepancy due to rounding. The time series from 1990-2018 has very similar figures compared to the one of the yearbooks but there are minimal discrepancies due to methodological issues.