Comparative analysis between p
Comparative analysis between pThe first economic evaluation for this class was on the
Commonwealth of Puerto Rico. In keeping with the Caribbean theme,
the country that was selected for comparison was the Dominican
Republic. The policies that will be examined are privatization policies and corporate acquisition/merger policies in the two nations. In order to provide a quality analysis of the two countries’ economic policies, a general description and basic comparisons of the two nations are provided.
Geographically, the Dominican Republic (48,730-sq. km.) is
much larger than Puerto Rico (9,104-sq. km.)[Puerto Rico][Dominican
Republic]. For a more tangible perspective on size, the Dominican
Republic is twice the size of New Hampshire and Puerto Rico is less
than three times the size of Rhode Island [Puerto Rico][Dominican
Republic].
The two nations are climatically identical. They both have
tropical marine climates with little seasonal temperature changes.
The two also have natural resources of metals with Puerto Rico having
the potential for oil mining.
The Dominican Republic’s population (over 7 million) is bit less than double the amount in Puerto Rico (about 3.8 million)[Age
Structure][Dominican Republic]. Their birth rates are similar as well
but the Dominican Republic’s is slightly higher.
Culturally they share similar backgrounds. Both countries
have Black and Hispanic origins and the official language spoken in
each is Spanish. They also share Roman Catholicism as their
dominant religion.
There are vast differences in each country’s economy. Puerto
Rico has one of the best economies in the Caribbean; being the only
island in the region where its industrial sector has surpassed the
agricultural sector as the primary source of income. The Dominican
Republic still has heavy emphasis on agriculture and the economy
relies heavily on trade. Tourism is very big and lucrative in Puerto
Rico, and the Dominican Republic has only recently begun to
increase its importance. Puerto Rico has a very strong, reliable and
productive work force while the Dominican Republic fights with both
underemployment and unemployment. Lastly, Puerto Rico has the
U.S. dollar for currency and the Dominican Republic has the
Dominican Peso. The exchange rate as of March 1996 was $13.50 D.
Peso per U.S. $1 [LatinFinance, March 1996].
In terms of legislation, Puerto Rico’s has been shaped by the
United States and is based on the Spanish Civil Code while the
Dominican Republic’s structure is based on the French Civil Code.
Both countries are democratic in nature but the Dominican Republic
has more political parties. Universal suffrage is at age 18 for the two nations but although Puerto Ricans are U.S. citizens, they are unable to participate in the United States presidential elections. Dominican Republicans can also receive suffrage if married before 18 but members of the armed forces and police cannot vote.
Privatization Policy
To understand the history of state ownership and privatization
in Puerto Rico it is important to know certain basic facts about them....
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