Cuban economic transformation and normalization of relations with the USA

The diploma thesis deals with the economic system of Cuba which worked for nearly fifty years on almost unchanging principles of central planning. Since 2007, measures have been put in place to change the functioning of Cuba's economic system towards lower state participation in the economy and an emphasis on market values. The aim of this diploma thesis is to find measures that support the statement that the Cuban command system is being transformed into market economy, and to describe the characteristics of the Cuban transformation. Another objective is, based on knowledge of the historical background, to assess possible implications of normalizing relations with the US. The work is divided into three parts. The starting point for the analysis of the Cuban economic system is the theoretical definition of economic systems and the transformation process in the first chapter, followed by a description of the long-term functioning of the Cuban command system and the historical development of relations with the US in the second chapter. The third chapter presents and evaluates the measures implemented in Cuba since 2007, which are closely related to the transformation to the market economy. In addition, the possible implications of normalization of Cuba-US relation are analyzed. At the end of the diploma thesis, there is a SWOT analysis of the current Cuban economy that concludes the issue