Date of Award
M. S. in Economic Theory and Policy
Jan Kregel, Ph.D.
In this paper we propose to leverage remittances as an alternative source of finance for the Cuban economy through one particular financial innovation—remittance securitization. This instrument has been successfully used in a number of developing countries to mitigate the risks associated with lending to a developing nation. We show how the structure of the remittance securitization for the particular case of Cuba would also mitigate those risks and could potentially allow Cuba to access capital markets at lower costs and longer terms than its sovereign credit rating would otherwise allow.
Viera, Oscar Valdes MS, "Remittance Securitization as an Alternative Source of Finance for Cuba" (2017). Masters of Science in Economic Theory and Policy. 6.