Restoring Growth in Puerto Rico
Overview and Policy Options
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Restoring Growth in Puerto Rico by Susan M. Collins
Book DescriptionAs 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& #151;labor supply and demand, entrepreneurship, the fiscal situation, financial markets, and trade& #151; --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), Maria 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).
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Book DetailsISBN: 9780815715504
(229mm x 152mm x 8mm)
Imprint: Brookings Institution
Publisher: Brookings Institution
Publish Date: 17-May-2006
Country of Publication: United States
Books By Author Susan M. Collins
Brookings Trade Forum: 2006, Paperback (December 2006)
Provides comprehensive analysis on emerging issues of international trade and economics. This volume focuses on the topic of labor markets.
Brookings Trade Forum: 2005, Paperback (December 2005)
This annual series provides comprehensive analysis on current and emerging issues of international trade and economics. In this volume, researchers use theory and empirics to provide novel analyses of six of the key issues surrounding the integration of developing countries into the global market place.
Economy of Puerto Rico, Paperback (November 2005)View all books by Susan M. Collins
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.
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Author Biography - Susan M. Collins
Susan M. Collins is a senior fellow in Economic Studies at the Brookings Institution, Washington, D.C., USA, and a professor of economics at Georgetown University, Washington, D.C., USA. Her publications focus on various dimensions of economic policy and performance for developing countries. Barry Bosworth is a senior fellow and Robert V. Roosa Chair in International Economics at the Brookings Institution, USA. Miguel A. Soto-Class is the executive director of the Center for the New Economy, a Puerto Rico-based think tank focusing on economic development issues.
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