Catching up in the postwar period: Puerto Rico as the fifth "Tiger"?

William J. Baumol, Edward Wolff

    Research output: Contribution to journalArticle

    Abstract

    Puerto Rico experienced one of the world's most rapid growth rates in both GDP per capita and labor productivity - a performance that puts it into the same league as Japan, South Korea, Taiwan and Singapore. Moreover, Puerto Rico significantly narrowed the productivity gap between itself and the United States. Special circumstances played a role in its development, including unrestricted emigration to the mainland, generous federal transfer payments, and special tax incentives for investment. But our analysis suggests that even without these advantages annual growth in GDP per capita would have averaged 3.8% over 1950-90, instead of its actual rate of 4.2%.

    Original languageEnglish (US)
    Pages (from-to)869-885
    Number of pages17
    JournalWorld Development
    Volume24
    Issue number5
    DOIs
    StatePublished - May 1996

    Fingerprint

    post-war period
    Puerto Rico
    Gross Domestic Product
    transfer payments
    tax incentive
    labor productivity
    emigration
    taxes
    South Korea
    Singapore
    Taiwan
    productivity
    Japan
    incentive
    performance
    Catching-up
    GDP per capita
    analysis
    rate
    world

    ASJC Scopus subject areas

    • Economics and Econometrics
    • Development
    • Geography, Planning and Development
    • Sociology and Political Science

    Cite this

    Catching up in the postwar period : Puerto Rico as the fifth "Tiger"? / Baumol, William J.; Wolff, Edward.

    In: World Development, Vol. 24, No. 5, 05.1996, p. 869-885.

    Research output: Contribution to journalArticle

    Baumol, William J. ; Wolff, Edward. / Catching up in the postwar period : Puerto Rico as the fifth "Tiger"?. In: World Development. 1996 ; Vol. 24, No. 5. pp. 869-885.
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