Boom and Bust in Puerto Rico - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Boom and Bust in Puerto Rico write by A. W. Maldonado. This book was released on 2021-08. Boom and Bust in Puerto Rico available in PDF, EPUB and Kindle. 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 2016. 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.
Boom and Bust in Puerto Rico
Boom and Bust in Puerto Rico - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Boom and Bust in Puerto Rico write by A. W. Maldonado. This book was released on 2021. Boom and Bust in Puerto Rico available in PDF, EPUB and Kindle.
Boom and Bust in Puerto Rico
Boom and Bust in Puerto Rico - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Boom and Bust in Puerto Rico write by A. W. Maldonado. This book was released on 2021-08-01. Boom and Bust in Puerto Rico available in PDF, EPUB and Kindle. 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.
Turning Bust to Boom
Turning Bust to Boom - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Turning Bust to Boom write by Richard Cooper. This book was released on 2017. Turning Bust to Boom available in PDF, EPUB and Kindle. If there is one thing that all stakeholders in Puerto Rico's fiscal crisis can agree on (and there are likely not many such things), it is that, without real economic growth, the Commonwealth of Puerto Rico will neither be able to repay its creditors nor offer its residents a viable, let alone prosperous, future. The Commonwealth's recently certified fiscal plan calls for sizable reductions in government expenditures, significant increases in overall revenue collections, the rightsizing of Puerto Rico's bloated government, labor reform, unprecedented adjustments to public pension systems and a litany of regulatory reform and other measures to facilitate new business formation. But when it comes to driving economic growth, particularly over the short term, the Commonwealth and the certified fiscal plan are relying heavily on the entry into a series of public-private partnership (PPP) transactions to jump-start the economy, contemplating approximately $5 billion of new investment over the next two years. Normally, investors and lenders to PPP projects avoid pursuing projects where the government's ability to provide financial, operational and logistical support is subject to considerable uncertainty. Additionally, any PPP project undertaken today in the Commonwealth will have to overcome real challenges when it comes to forecasting the projected use or need for a given PPP project in light of the overall macroeconomic uncertainties, particularly the possibility of further and accelerated population loss. Further, PPP sponsors and lenders may be rightfully concerned about the prospects of executing such transactions. Rather than speculate over the likelihood of that target being reached, this article focuses on how the tools provided by the Puerto Rican Oversight, Management and Economic Stability Act (PROMESA) can help mitigate some of these risks and even facilitate future PPP projects in Puerto Rico.
The Economy of Puerto Rico
The Economy of Puerto Rico - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook The Economy of Puerto Rico write by Susan M. Collins. This book was released on 2007-08-29. The Economy of Puerto Rico available in PDF, EPUB and Kindle. A Brookings Institution Press and the Center for the New Economy publication 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).
