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FEDERAL RESERVE BANK OF NEW YORK Current Issues IN ECONOMICS AND FINANCE

By S Econd, D Istrict, H Ighlights, Jason Bram, Francisco E. Martínez and Charles Steindel

Abstract

A two-year-long economic downturn and a persistent income gap with the U.S. mainland contribute to an uncertain outlook for Puerto Rico. Still, the commonwealth possesses a skilled and educated workforce, a favorable business climate, and the benefits of U.S. legal and financial structures— advantages that could encourage the development of new industries and create the potential for sustained growth. R eaders of this publication who are accustomed to thinking of the Federal Reserve System’s Second District as New York State and nearby counties in New Jersey and Connecticut may be surprised to learn that the District includes the Commonwealth of Puerto Rico. 1 In this issue of Second District Highlights, we present an overview of Puerto Rico’s economy, examining its basic characteristics, long-ter

Year: 2013
OAI identifier: oai:CiteSeerX.psu:10.1.1.363.3492
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