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, Ramon Cao, Maria Enchautegui,
Jose Joaquin Villamil, Eileen Segarra, Marines 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).
General
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