The Economy of Puerto Rico

2007-08-29
The Economy of Puerto Rico

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  • Author: Susan M. Collins
  • Publisher: Rowman & Littlefield
  • ISBN: 9780815715603
  • Category : Political Science
  • Languages : en
  • Pages : 632

A non-incorporated territory of the United States, Puerto Rico operates under U.S. legal, monetary, security and tariff systems. Despite sharing in these and other key U.S. institutions, Puerto Rico has experienced economic stagnation and large scale unemployment since the 1970s. The island's living standards are low by U.S. standards, with a per capita income only half that of Mississippi, the poorest state. While many studies have analyzed the fiscal implications of Puerto Rico's political relationship with the United States, little research has focused broadly on the island's economic experience or assessed its growth prospects. In this innovative new book, economists from U.S. and Puerto Rican institutions address a range of major policy issues affecting the island's economic development. To frame the current situation, the contributors begin by assessing Puerto Rico's past experience with various growth policies. They then analyze several reforms and new initiatives in labor, education, entrepreneurship, fiscal policy, migration, trade, and financing development, which they incorporate into a proposed strategy for jumpstarting Puerto Rican economic growth. Contributors include Gary Burtless (Brookings Institution); Orlando Sotomayor, Luis Rivera-Batiz, Ramón Cao, Maria Enchautegui, José Joaquín Villamil, Eileen Segarra, Marinés Aponte, and Juan Lara (University of Puerto Rico); Richard Freeman and Robert Lawrence (Harvard University); Helen Ladd (Duke University); Francisco Rivera-Batiz (Columbia University); Steven Davis and Bruce Meyer (University of Chicago); James Alm (Georgia State University); Ingo Walter, Rita Maldonado-Bear, and William Baumol (New York University); Belinda Reyes (University of California, Merced); Alan Krueger (Princeton University); Carlos Santiago (University of Wisconsin); David Audretsch (Indiana University); Ronald Fisher (Michigan State University); Fuat Andic (UN Advisor); Arturo Estrella (NY Federal Reserve); James Hanson and Daniel Lederman (World Bank); James Dietz (University of California, Fullerton); and Katherine Terrell (University of Michigan).

Boom and Bust in Puerto Rico

2021-08-01
Boom and Bust in Puerto Rico

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  • Author: A. W. Maldonado
  • Publisher: University of Notre Dame Pess
  • ISBN: 0268200998
  • Category : History
  • Languages : en
  • Pages : 318

Who is to blame for the economic and political crisis in Puerto Rico—the United States or Puerto Rico? This book provides a fascinating historical perspective on the problem and an unequivocal answer on who is to blame. In this engaging and approachable book, journalist A. W. Maldonado charts the rise and fall of the Puerto Rican economy and explains how a litany of bad political and fiscal policy decisions in Washington and Puerto Rico destroyed an economic miracle. Under Operation Bootstrap in the 1950s and '60s, the rapid transformation and industrialization of the Puerto Rican economy was considered a “wonder of human history,” a far cry from the economic “death spiral” the island’s governor described in 2015. Boom and Bust in Puerto Rico is the story of how the demise of an obscure tax policy that encouraged investment and economic growth led to escalating budget deficits and the government’s shocking default of its $70 billion debt. Maldonado also discusses the extent of the devastation from Hurricane Maria in 2017, the massive street protests during 2019, and the catastrophic earthquakes in January 2020. After illuminating the century of misunderstanding between Puerto Rico and the United States—the root cause of the economic crisis and the island’s gridlocked debates about its political status—Maldonado concludes with projections about the future of the relationship. He argues that, in the end, the economic, fiscal, and political crises are the result of the breakdown and failure of Puerto Rican self-government. Boom and Bust in Puerto Rico is written for a wide audience, including students, economists, politicians, and general readers, all of whom will find it interesting and thought provoking.

The Economy of Puerto Rico

2007-08-29
The Economy of Puerto Rico

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  • Author: Susan M. Collins
  • Publisher: Rowman & Littlefield
  • ISBN: 0815715609
  • Category : Political Science
  • Languages : en
  • Pages : 628

A non-incorporated territory of the United States, Puerto Rico operates under U.S. legal, monetary, security and tariff systems. Despite sharing in these and other key U.S. institutions, Puerto Rico has experienced economic stagnation and large scale unemployment since the 1970s. The island's living standards are low by U.S. standards, with a per capita income only half that of Mississippi, the poorest state. While many studies have analyzed the fiscal implications of Puerto Rico's political relationship with the United States, little research has focused broadly on the island's economic experience or assessed its growth prospects. In this innovative new book, economists from U.S. and Puerto Rican institutions address a range of major policy issues affecting the island's economic development. To frame the current situation, the contributors begin by assessing Puerto Rico's past experience with various growth policies. They then analyze several reforms and new initiatives in labor, education, entrepreneurship, fiscal policy, migration, trade, and financing development, which they incorporate into a proposed strategy for jumpstarting Puerto Rican economic growth. Contributors include Gary Burtless (Brookings Institution); Orlando Sotomayor, Luis Rivera-Batiz, Ramón Cao, Maria Enchautegui, José Joaquín Villamil, Eileen Segarra, Marinés Aponte, and Juan Lara (University of Puerto Rico); Richard Freeman and Robert Lawrence (Harvard University); Helen Ladd (Duke University); Francisco Rivera-Batiz (Columbia University); Steven Davis and Bruce Meyer (University of Chicago); James Alm (Georgia State University); Ingo Walter, Rita Maldonado-Bear, and William Baumol (New York University); Belinda Reyes (University of California, Merced); Alan Krueger (Princeton University); Carlos Santiago (University of Wisconsin); David Audretsch (Indiana University); Ronald Fisher (Michigan State University); Fuat Andic (UN Advisor); Arturo Estrella (NY Federal Reserve); James Hanson and Daniel Lederman (World Bank); James Dietz (University of California, Fullerton); and Katherine Terrell (University of Michigan).

Restoring Growth in Puerto Rico

2007-08-29
Restoring Growth in Puerto Rico

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  • Author: Susan M. Collins
  • Publisher: Rowman & Littlefield
  • ISBN: 0815715595
  • Category : Political Science
  • Languages : en
  • Pages : 152

As a territory of the United States, Puerto Rico enjoys the benefits of key U.S. legal, monetary, security, and tariff systems, and its residents are U.S. citizens. In the decades following World War II, Puerto Rico emerged as one of the world's fastest-growing economies. From 1950 to 1970 per capita income nearly doubled as a percentage of the U.S. average, making the island the richest economy in Latin America. Since the mid-1970s, however, labor force attachment has declined, economic growth has slowed, and the island's living standards have fallen further behind those on the mainland. Today more than half of all Puerto Rican children live below the U.S. poverty level. Why did Puerto Rico's economic progress stall? And more important, what can be done to restore growth? A number of overlapping concerns—labor supply and demand, entrepreneurship, the fiscal situation, financial markets, and trade——are at the heart of its economic difficulties. This is a companion volume to Restoring Growth: The Economy of Puerto Rico (Brookings, 2006), in which economists from Puerto Rico and the United States examine the island's economy and propose strategies for sustainable growth. This monograph summarizes the analyses published in that volume and presents a set of policy recommendations to increase employment, improve education, upgrade infrastructure, and fix government finances. Contributors include James Alm (Georgia State University), Barry P. Bosworth and Gary Burtless (Brookings Institution), Susan M. Collins (Brookings Institution and Georgetown University), Steven J. Davis (University of Chicago), María E. Enchautegui, Juan Lara, Luis A. Rivera- Batiz, and Orlando Sotomayor (University of Puerto Rico), Richard B. Freeman and Robert Z. Lawrence (Harvard University), Helen F. Ladd (Duke University), Rita Maldonado-Bear and Ingo Walter (New York University), Francisco L. Rivera-Batiz (Columbia University), and Miguel A. Soto-Class (Center for the New Economy).

Economic History of Puerto Rico

2018-06-05
Economic History of Puerto Rico

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  • Author: James L. Dietz
  • Publisher: Princeton University Press
  • ISBN: 0691186898
  • Category : Business & Economics
  • Languages : en
  • Pages : 374

This is a comprehensive and detailed account of the economic history of Puerto Rico from the period of Spanish colonial domination to the present. Interweaving findings of the "new" Puerto Rican historiography with those of earlier historical studies, and using the most recent theoretical concepts to interpret them, James Dietz examines the complex manner in which productive and class relations within Puerto Rico have interacted with changes in its place in the world economy. Besides including aggregate data on Puerto Rico's economy, the author offers valuable information on workers' living conditions and women workers, plus new interpretations of development since Operation Bootstrap. His evaluation of the island's export-oriented economy has implications for many other developing countries.

Puerto Rico

2017
Puerto Rico

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  • Author: Jorge Duany
  • Publisher: Oxford University Press
  • ISBN: 0190648694
  • Category : History
  • Languages : en
  • Pages : 209

The book begins with a historical overview of Puerto Rico during the Spanish colonial period (1493-1898). It then focuses on the first five decades of the U.S. colonial regime, particularly its efforts to control local, political, and economic institutions as well as to 'Americanize' the Island's culture and language. Jorge Duany delves into the demographic, economic, political, and cultural features of contemporary Puerto Rico--the inner workings of the Commonwealth government and the island's relationship to the United States. Lastly, the book explores the massive population displacement that has characterized Puerto Rico since the mid-20th century. Despite their ongoing colonial dilemma, Jorge Duany argues that Puerto Ricans display a strong national identity as a Spanish-speaking, Afro-Hispanic-Caribbean nation. While a popular tourist destination, few beyond its shores are familiar with its complex history and diverse culture.

Status of Puerto Rico: Economic factors in relation to the status of Puerto Rico

1966
Status of Puerto Rico: Economic factors in relation to the status of Puerto Rico

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  • Author: United States-Puerto Rico Commission on the Status of Puerto Rico
  • Publisher:
  • ISBN:
  • Category : Puerto Rico
  • Languages : en
  • Pages : 808

The Tainos

1992
The Tainos

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  • Author: Irving Rouse
  • Publisher:
  • ISBN: 9780300056969
  • Category : History
  • Languages : en
  • Pages : 228

Tells the story of the Taino people from their ancestral days in South America through their migration to the northern Caribbean islands where they were the first natives to interact with Columbus, to their rapid and immediate decline under the European gifts of forced labor, malnutrition, disease, and dispersal. Includes a glossary without pronunciation. Annotation copyright by Book News, Inc., Portland, OR

Agrarian Puerto Rico

2020-01-30
Agrarian Puerto Rico

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  • Author: César J. Ayala
  • Publisher: Cambridge University Press
  • ISBN: 1108488463
  • Category : Business & Economics
  • Languages : en
  • Pages : 327

Challenges dominant interpretations of colonialism's impact on the economy and social structuring of a US-owned Caribbean colony.

Puerto Rico

2017-12-12
Puerto Rico

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  • Author: Luis Gautier
  • Publisher: Lexington Books
  • ISBN: 1498556841
  • Category : Business & Economics
  • Languages : en
  • Pages : 142

This book argues that it is in the best interests of Puerto Rico and the United States to set policies to move toward political independence for Puerto Rico. It explores, theoretically and empirically, aspects of trade, industry, and market-based environmental policies in the context of the US–Puerto Rico relationship.