Overview
Access this book
Tax calculation will be finalised at checkout
Other ways to access
About this book
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.
Similar content being viewed by others
Keywords
- Texas banking
- educational challenge
- wage polarization
- border development
- Regional growth
- small government
- business climate
- franchise tax
- educational attainment
- comparative advantage
- exports
- energy
- oil and gas sector
- oil boom
- oil bust
- colonias
- border economy
- labor market polarization
- income inequality
- job growth
- development
- Economic Development
- economic growth
- Export
- growth
- labor market
- Oil and Gas
- Regional Growth
Table of contents (14 chapters)
-
Front Matter
-
Introduction
-
Front Matter
-
-
Public Policy and Business Climate
-
Front Matter
-
-
Human Capital and Labor Markets
-
Front Matter
-
-
Border and Economic Development
-
Front Matter
-
Reviews
"Ten-Gallon Economy is a timely volume on the important forces shaping the dynamic Texas economy over the past decade and more. The invited articles touch on the myriad drivers of the state's rapid growth (energy, exports, low taxes), but they also focus on the challenges that need addressing if Texas is to remain vibrant. The volume is not a compendium of Texas boosterism but rather of clear-eyed research and recommendations to assure future economic success for all Texans."
- Kathleen Cooper, Director of International Politics and Economics, Tower Center, Southern Methodist University, USA; former Under Secretary for Economic Affairs, US Department of Commerce; Chief Economist, Exxon Mobil Corporation
"Rather than providing simply an overview of Texas' 'oil economy,' Ten-Gallon Economy examines the people and socioeconomic conditions as well as the energy and non-energy components of the state's economy in the past, present, and future. This book is a must-read thatwill be both informative and enlightening for anyone interested in how we got here and the road forward."
- Steve Murdock, Allyn and Gladys Cline Professor of Sociology, Rice University, USA; former Director of the US Census Bureau
"We have a responsibility to turn our diversity into strength. The effective deployment of human capital has never offered greater promise than it does today. Ten Gallon Economy outlines the choices we face and the rewards we can fully realize only by addressing our growing education needs. We must always evaluate what our real-world options are; change is the one constant. Ten Gallon Economy's research and analysis provides invaluable insight in these challenging times."
- Renu Khator, Chancellor, University of Houston, USA
About the authors
Pia M. Orrenius is Vice President and Senior Economist at the Federal Reserve
Bank of Dallas, USA, where she leads the regional group that tracks economic
growth and development in the Eleventh District. Orrenius has published
extensively on the Texas economy, immigration, and labor markets, and is
Executive Editor of the Dallas Fed publication Southwest Economy.
Jesús Cañas is Business Economist at the Federal Reserve Bank of Dallas, USA. As member of the regional group he analyzes the regional economy. His research at the Fed also focuses on issues pertaining to the Mexican economy, the U.S.-Mexico border economy, and the maquiladora industry. Cañas has written articles for various Federal Reserve Bank publications and academic journals such as Annals of Regional Science and Growth and Change. Cañas holds a BA in Economics and Finance and an MS in Economics from the University of Texas at El Paso, USA.
Michael Weiss is Senior Writer/Editor in the Research Department of the Federal Reserve Bank of Dallas, USA, and edits the quarterly, Southwest Economy. He holds an MBA in Finance from the University of Texas at Arlington, USA, an MS in Journalism from Columbia University, USA, and a BA in Public Affairs from The University of Chicago, USA.
Jordana Barton, Federal Reserve Bank of Dallas, USA Roberto Coronado, Federal Reserve Bank of Dallas, USA
Marycruz de León, Federal Reserve Bank of Dallas, USA
John V. Duca, Federal Reserve Bank of Dallas, USA
Christina English, Equal Employment Advisory Council, USA
Amy Jordan, Federal Reserve Bank of Dallas, USA
Kory Killgo, Federal Reserve Bank of Dallas, USA
Anil Kumar, Federal Reserve Bank of Dallas, USA
Nicole Lake, Blue Cross Blue Shield, USA
Melissa Lopalo, Federal Reserve Bank of Dallas, USA
Raquel R. Márques, Federal Reserve Bank of Dallas, USA
David Neumark, University of California, Irvine, USA
Elizabeth Organ, New York University, USA
Emily Ryder Perlmeter, Federal Reserve Bank of Dallas, USA
Keith R. Phillips, Federal Reserve Bank of Dallas, USA
Michael Plante, Federal Reserve Bank of Dallas, USA
Kenneth J. Robinson, Federal Reserve Bank of Dallas, USA
Eduardo Saucedo, The University of Texas-Pan American, USA
John Saving, Federal Reserve Bank of Dallas, USA
Christopher Slijk, Federal Reserve Bank of Dallas, USA
Elizabeth Sobel Blum, Federal Reserve Bank of Dallas, USA
Marta Tienda, Princeton University, USA
Louis Bernardo Torres Ruiz, Texas A&M University, USA
Alan D. Viard, American Enterprise Institute, USA
Mine K. Yücil, Federal Reserve Bank of Dallas, USA
Jesús Cañas is Business Economist at the Federal Reserve Bank of Dallas, USA. As member of the regional group he analyzes the regional economy. His research at the Fed also focuses on issues pertaining to the Mexican economy, the U.S.-Mexico border economy, and the maquiladora industry. Cañas has written articles for various Federal Reserve Bank publications and academic journals such as Annals of Regional Science and Growth and Change. Cañas holds a BA in Economics and Finance and an MS in Economics from the University of Texas at El Paso, USA.
Michael Weiss is Senior Writer/Editor in the Research Department of the Federal Reserve Bank of Dallas, USA, and edits the quarterly, Southwest Economy. He holds an MBA in Finance from the University of Texas at Arlington, USA, an MS in Journalism from Columbia University, USA, and a BA in Public Affairs from The University of Chicago, USA.
Jordana Barton, Federal Reserve Bank of Dallas, USA Roberto Coronado, Federal Reserve Bank of Dallas, USA
Marycruz de León, Federal Reserve Bank of Dallas, USA
John V. Duca, Federal Reserve Bank of Dallas, USA
Christina English, Equal Employment Advisory Council, USA
Amy Jordan, Federal Reserve Bank of Dallas, USA
Kory Killgo, Federal Reserve Bank of Dallas, USA
Anil Kumar, Federal Reserve Bank of Dallas, USA
Nicole Lake, Blue Cross Blue Shield, USA
Melissa Lopalo, Federal Reserve Bank of Dallas, USA
Raquel R. Márques, Federal Reserve Bank of Dallas, USA
David Neumark, University of California, Irvine, USA
Elizabeth Organ, New York University, USA
Emily Ryder Perlmeter, Federal Reserve Bank of Dallas, USA
Keith R. Phillips, Federal Reserve Bank of Dallas, USA
Michael Plante, Federal Reserve Bank of Dallas, USA
Kenneth J. Robinson, Federal Reserve Bank of Dallas, USA
Eduardo Saucedo, The University of Texas-Pan American, USA
John Saving, Federal Reserve Bank of Dallas, USA
Christopher Slijk, Federal Reserve Bank of Dallas, USA
Elizabeth Sobel Blum, Federal Reserve Bank of Dallas, USA
Marta Tienda, Princeton University, USA
Louis Bernardo Torres Ruiz, Texas A&M University, USA
Alan D. Viard, American Enterprise Institute, USA
Mine K. Yücil, Federal Reserve Bank of Dallas, USA
Bibliographic Information
Book Title: Ten-Gallon Economy
Book Subtitle: Sizing Up Economic Growth in Texas
Editors: Pia M. Orrenius, Jesús Cañas, Michael Weiss
DOI: https://doi.org/10.1057/9781137530172
Publisher: Palgrave Macmillan New York
eBook Packages: Palgrave Economics & Finance Collection, Economics and Finance (R0)
Copyright Information: Federal Reserve Bank of Dallas 2015
Hardcover ISBN: 978-1-137-53016-5Published: 29 September 2015
eBook ISBN: 978-1-137-53017-2Published: 01 September 2015
Edition Number: 1
Number of Pages: XVII, 248
Number of Illustrations: 65 b/w illustrations
Topics: Industrial Organization, Development Economics, Regional/Spatial Science, Energy Policy, Economics and Management, Macroeconomics/Monetary Economics//Financial Economics, Economic Growth