Puerto Rico (eBook)

Independence, Industrial Policy, and Growth

Luis Gautier (Autor)

eBook Download: EPUB

2017
142 Seiten
Lexington Books (Verlag)
978-1-4985-5684-2 (ISBN)

Infos

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.

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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, this book 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. The potential for sustainable economic growth and development is latent in Puerto Rico's economy. But for factors of production to be used effectively and efficiently, Puerto Rico's economy requires access to international markets at sufficiently lower transaction costs, a condition consistent primarily in an equilibrium characterized by political independence. Access to international markets at sufficiently lower costs would help, inter alia, restore market credibility, regain access to credit markets at bearable costs and achieve important efficiency gains. This book 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.

Autor

Luis Gautier is assistant professor of economics at the University of Texas at Tyler.

Inhalt

AcknowledgmentsPrefaceChapter 1: Trade and Independence for Economic DevelopmentChapter 2: Market Potential and International TradeChapter 3: Foreign Direct Investment Under Fiscal Interdependence When Policy Is Set UnilaterallyChapter 4: Unilateral Policy and Foreign CompetitionChapter 5: Lobbying in the Presence of Foreign CompetitionChapter 6: Developing Domestic Industry and Jobs: The Role of the Local Content RequirementChapter 7: Income Convergence and Sustained Growth: A CommentChapter 8: Market-based Environmental Policy in Puerto RicoAppendixReferences

Produkt-Details

• Erscheint lt. Verlag: 12.12.2017
• Zusatzinfo: 124 Illustrations including: - 124 Black & White Illustrations.
• Verlagsort: Lanham
• Sprache: englisch
• Themenwelt: Sachbuch/Ratgeber ► Beruf / Finanzen / Recht / Wirtschaft ► Wirtschaft
• Themenwelt: Recht / Steuern ► Steuern / Steuerrecht
• Themenwelt: Sozialwissenschaften ► Politik / Verwaltung ► Staat / Verwaltung
• Themenwelt: Wirtschaft ► Volkswirtschaftslehre ► Finanzwissenschaft
• Themenwelt: Wirtschaft ► Volkswirtschaftslehre ► Wirtschaftspolitik
• Schlagworte: Caribbean basin • Economic Development • Environmental Policy • FDI • Free Trade • Industrial Policy • Local Content • Puerto Rico Independence • Statehood • US Caribbean policy
• ISBN-10: 1-4985-5684-1 / 1498556841
• ISBN-13: 978-1-4985-5684-2 / 9781498556842