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Full Description
Texas' economic growth has consistently outpaced that of the United States as a
whole over the past quarter century. What accounts for the state's economic
success? And does it come at a price to be paid in the future? Ten-Gallon
Economy features new research on regional economic growth and some
surprising findings on Texas' unique tax and banking institutions, booming
energy and export sectors, vibrant labor market, expanding demographics and
human capital, and growing border economy. Texas has a dynamic economy, large
yet flexible, but it is still subject to the booms and busts of the energy
sector, which exercises an outsized influence. Taxes are low but regressive
relative to national benchmarks, which fuels growth but can inhibit investment
in education and health. Meanwhile, Texas, as one of only five minority-majority
states, is poised to reap a big demographic dividend if it invests wisely in the
coming generation of mostly Latino workers. Taken together, the chapters in this
volume provide unique insight into the economy of the nation's second-largest
state, laying out some of the choices facing policymakers charged with
safeguarding the Texas growth premium for future generations.
Contents
PART I: INTRODUCTION
1. Tipping Our Hats to the Ten-Gallon Economy; Pia M.
Orrenius, Jesús Cañas, Michael Weiss
PART II: PUBLIC POLICY AND BUSINESS
CLIMATE
2. Increasing Jobs and Income from Work: The Role and Limitations of
Public Policy; David Neumark
3. Why Texas Grows Faster: The Role of Smaller
Government; Jason Saving
4. The Shortcomings of the Texas Margin Tax; Alan D.
Viard
PART III: HUMAN CAPITAL AND LABOR MARKETS
5. Texas' Education
Challenge: A Demographic Dividend or Bust?; Marta Tienda
6. Oil Boom Lowers
Human Capital Investment in Texas; Anil Kumar
7. Employment Growth and Labor
Market Polarization in the U.S. and Texas; Melissa LoPalo, Pia M.
Orrenius
PART IV: INDUSTRY AND EXPORTS
8. Texas Real Estate: From the
1980s' Oil Bust to the Shale Oil Boom; John V. Duca, Michael Weiss, Elizabeth
Organ
9. The Evolution of Texas Banking; Kory Killgo and Kenneth J.
Robinson
10. The Impact of Changing Energy Prices on the Texas Economy; Mine
K. Yücel, Michael Plante, Amy Jordan, Nicole Lake
11. Texas Comparative
Advantage and Manufacturing Exports; Jesús Cañas, Luis Bernardo Torres Ruiz,
Christina English
PART V: BORDER AND ECONOMIC DEVELOPMENT
12. So Close to
Mexico: Economic Spillovers Along the Texas-Mexico Border; Roberto Coronado,
Marycruz De León, Eduardo Saucedo
13. Border Economic Recovery Lags Rest of
State; Keith R. Phillips and Christopher Slijk
14. Las Colonias Along the
Texas-Mexico Border; Jordana Barton, Elizabeth Sobel Blum, Emily Ryder
Perlmeter, Raquel R. Márquez
