Puerto Rico : independence, industrial policy, and growth / Luis Gautier.

Format:

Book

Author/Creator:

Gautier, Luis, author.

Language:

English

Subjects (All):

Economic development--Puerto Rico.

Economic development.

Industrial policy--Puerto Rico.

Industrial policy.

Puerto Rico--Economic policy.

Puerto Rico.

Economic policy.

Puerto Rico--Politics and government--1998-.

Politics and government.

Physical Description:

xiii, 127 pages ; 24 cm

Place of Publication:

Lanham : Lexington Books, [2018]

Summary:

Puerto Rico is experiencing its deepest economic crisis since the first half of the twentieth century. The unique political and economic relationship between the US and Puerto Rico arguably plays a fundamental role in this crisis. With these in mind, and given the imposition of the Financial Oversight Management Board by the US government, Puerto Rico: Independence, Industrial Policy, and Growth presents policy recommendations to help Puerto Rico achieve sustainable development. A set of partial equilibrium models are employed to study important industrial policy options and trade issues. This book also discusses the potential role of market-based environmental policies as well as issues of income convergence. The method of analysis to study the Puerto Rico-US relationship presented in this book is entirely new to the literature and the analysis of market-based environmental policy. The overarching result is that it is in the best interest of Puerto Rico and the US to set economic policies consistent with an equilibrium characterized by political independence (i.e., national sovereignty) for Puerto Rico. Puerto Rico argues that international trade ought to be at the center of development and growth policy. Importantly, it argues on the grounds of efficiency that not only is it in the best interest of the US to help Puerto Rico move gradually towards an equilibrium consistent with political independence, but that a statehood-like equilibrium is inefficient, particularly if a higher degree of access to global markets is at the center of policy formulation. I hope the discussion presented in this book signifies an important contribution to the policy debate in order to address Puerto Rico's economic challenges. Book jacket.

Contents:

Trade and independence for economic development

Market potential and international trade

Foreign direct investment under fiscal interdependence when policy is set unilaterally

Unilateral policy and foreign competition

Lobbying in the presence of foreign competition

Developing domestic industry and jobs: the role of the local content requirement

Income convergence and sustained growth: a comment

Market-based environmental policy in Puerto Rico.

Notes:

Includes bibliographical references and index.

Other Format:

Online version: Gautier, Luis, author. Puerto Rico

ISBN:

9781498556835

1498556833

OCLC:

1002116443