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• W1602300350 abstract "ABSTRACT The Caribbean is an important region of the world due to its geographic location and diversity. One of the most dynamic economies in the region is attributed to Puerto Rico. This paper tries to analyze Puerto Rican competitiveness in the new millennium using the cluster charts methodology developed by Porter (1990). The raw material for this study is composed of the exports of the country for 2001 to 2005. The results point out the participation of Puerto Rico's exports in the international markets and the importance of Puerto Rican export industries among the world. Keywords: Puerto Rico, Competitiveness, Exports, Caribbean (ProQuest: ... denotes formulae omitted.) INTRODUCTION The beginning of the year 2000 and the new millennium saw a lot of expectations, forecasts and predictions in relation to different world issues, especially those related to economics, technology, and social issues. It is not by chance that the eight Millennium Development Goals (MDGs) established by the United Nations Organization were: eradicate extreme poverty and hunger; achieve universal primary education; promote gender equality and empower women; reduce child mortality; improve maternal health; combat HIV/AIDS, malaria and other diseases; ensure environmental sustainability; and develop a global partnership for development. The Caribbean countries were not the exception in making forecasts for the new millennium. For Puerto Rico, the country with the most dynamic economy in the Caribbean and one of the world's most open economies, a lot of predictions were made. Among those were the technological difficulties that Y2K could bring, natural disasters, and economic challenges. Now, eight years after the beginning of the new millennium, we are experiencing the reality of these predictions. In the economic aspect, which is the principal topic of this study, the new millennium has brought big challenges to Puerto Rico, the Enchantment Island of the Caribbean. This study expands to the new millennium, on research developed in 2004 analyzing Puerto Rico's competitiveness. The methodology used was one developed by Dr. Michael E. Porter in 1990 to prepare cluster charts of competitive industries in a country. In this study, the researcher prepared cluster charts of competitive industries in Puerto Rico for 2001 to 2005. THEORETICAL FRAMEWORK The topic of competitiveness is a very urgent one in the 21st century and especially urgent for the Caribbean. According to The World Bank (2005), ... the Caribbean region is at a development crossroads and its member nations must take significant and concrete steps to improve productivity and competitiveness and face up to more global competition if they are to accelerate or even maintain past growth. By taking such steps, they will reposition themselves strategically as an emerging trading bloc for goods and services; without such action, they risk growing economic marginalization and erosion of many of the social gains of the last three decades.1 For Puerto Rico, the biggest of the Minor Antilles and the country with the most dynamic economy in the region, the topic of competitiveness is a must. As a study of the Brookings Institution (2006) stated, At the close of the millennium, Puerto Rico was a tale of two economies.2 The country had achieved a per capita income substantially higher than in the rest of Latin America. In terms of some social indicators, Puerto Rico ended last century with literacy rates, years of schooling, and life expectancy very close to the most highly developed countries of the world. But, by the other side, Puerto Rico has a poverty rate below the United States (US) poverty line and a big income gap relative to the US (Brookings Institution, 2006). Researchers like Dietz (2003) recommends that Puerto Rico must leverage its regional comparative advantage in its human capital and knowledge-intensive resources in ways that promise to significantly raise employment and per capita income. …" @default.
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• W1602300350 date "2011-01-01" @default.
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• W1602300350 title "Competitiveness in the New Millennium in the Caribbean: The Case of Puerto Rico" @default.
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