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9780815715535

The Economy of Puerto Rico Restoring Growth

by ; ;
  • ISBN13:

    9780815715535

  • ISBN10:

    0815715536

  • Format: Paperback
  • Copyright: 2006-06-22
  • Publisher: Brookings Institution Press

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Summary

As a territory of the United States, Puerto Rico operates under U.S. judicial, monetary, and tariff systems. Despite sharing these key U.S. institutions, however, the region's economy has stalled. Since the 1970s, the island has experienced economic stagnation, large scale unemployment, and a widening income gap relative to the mainland. Here, economists from Puerto Rico and the United States address the major policy issues-labor supply and demand, entrepreneurship, the fiscal situation, financial markets, and trade-at the heart of Puerto Rico's economic difficulties.

Table of Contents

Foreword vii
Preface ix
Acknowledgments xiii
1 Introduction and Summary
1(16)
SUSAN M. COLLINS, BARRY P. BOSWORTH, AND MIGUEL A. SOTO-CLASS
2 Economic Growth
17(65)
BARRY P. BOSWORTH AND SUSAN M. COLLINS
Comments by William J. Baumol and José J. Villamil
70(12)
3 Labor Supply and Public Transfers
82(70)
GARY BURTLESS AND ORLANDO SOTOMAYOR
Comments by Eileen V. Segarra Alméstica and Katherine Terrell
136(16)
4 Why Don't More Puerto Rican Men Work? The Rich Uncle (Sam) Hypothesis
152(37)
MARIA E. ENCHAUTEGUI AND RICHARD B. FREEMAN
Comment by Belinda I. Reyes
183(6)
5 Education and Economic Development
189(66)
HELEN F. LADD AND FRANCISCO L. RIVERA-BATIZ
Comments by Alan B. Krueger and Carlos E. Santiago
239(16)
6 The Climate for Business Development and Employment Growth
255(64)
STEVEN J. DAVIS AND LUIS A. RIVERA-BATIZ
Comments by Marinés Aponte and David B. Audretsch
305(14)
7 Assessing Puerto Rico's Fiscal Policies
319(80)
JAMES ALM
Comments by Ronald Fisher, William Lockwood Benet, and Fuat Andic
376(23)
8 Financing Economic Development
399(108)
RITA MALDONADO-BEAR AND INGO WALTER
Comments by Arturo Estrella and James A. Hanson
492(15)
9 Trade Performance and Industrial Policy
507(59)
ROBERT Z. LAWRENCE AND JUAN LARA
Comments by James L. Dietz and Daniel Lederman
549(17)
10 Restoring Growth: The Policy Options 566(21)
BARRY P. BOSWORTH AND SUSAN M. COLLINS
Contributors 587(2)
Index 589

Supplemental Materials

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