The Southwest Economy In The 1990s: A Different Decade: Proceedings Of The 1989 Conference On The Southwest Economy Sponsored By The Federal Reserve Bank Of Dallas

The Southwest Economy in the 1990s: A Different Decade The Southwest Economy in the 1990s: A Different Decade Proceedings of the 1989 Conference on the Southwest Economy Sponsored by the Federal Reserve Bank of Dallas edited by Gerald P. O'Oriscoll, ]r. Stcphcn P .A. Brown The Federal Reserve Bank of Oallas ., ..... Springer Science+Business Media, LLC Library of Congress Cataloging-in-Publication Data Conferenc:e on ,he SOUrh...., Economy (1989 : DaD.., TeL) The SOU'h....' economy in rhe 1990s : a differen, decade : proceedings of the 1989 Confere",", on the South....t Economy / sponaored bJ rhe Federal Reserve Banlt of Dau.. ; edited bJ Geniei P. O"DriIlCOII,]r., Srephen PA. Brown. p. an. Includes bibJiosraphical refere",",". ISBN 978-1-4613-6807-6 ISBN 978-1-4615-4040-3 (eBook) DOI 10.10071978-1-4615-4040-3 1. Economic forecutins-Sourhwesrern States-Con_ _. 2. SOU'hwestern Statea-Economic amdirions--Consresses. 3. Sourhwestern StareI-Economic pnIicy-Con,resses. L O'Driscoll, Geniei P. U. Brown, Srephen P. A (Srephen Paul IU. Federal Reserve Baok of DaUaa. IV. Tirle. AdoIph) 1948- HCI07.AI65C66 1989 330.976'OOn2-dc20 90-5349 Copyrigh' © 1991 by Sprinser Science+Busin.ss Media New York OrisinaJly pIlblished by Kluwer Academic Publishers, New York in 1991 Sofll:owr reprint ofthe hardcover Ist edition 1991 prirlllt/ .11 1IliI/-jiw p""... AU righrs reserved. No parc of ehis publication may be reproduced, srored in a reuieva! syscem, or uansmitted in any form or by any mean., mechanica!, phococopying, recordin" or orherwise, wiehouc ehe prior wrirren perntission of ehe publisher, Springer Scicnce+Busincss Media, LLC. Contents Introduction Overoiew-The 1990s: A Different Decade xi About the Contributors............................................................................ xv General Meetings-The 1990s: A Different Decade Welcome Address-The 1990s: A Different Decade Robert H. Boykin 3 The Future ofthe Southwest Economy: Challenges and Opportunities Admiral Bobby R. Inman 5 Research and Public Seroice in Comprehensive Universities William H. Cunningham 13 From Outlook to Opportunity: Making the 1990s Work John B. McCoy 19 Session One-Meeting the Challenges in Education Introductory Remarks-Meeting the Challenges in Education William H. Wallace 29 The Case for Educational Choice John E. Chubb 31 v vi Contents Schools in the 1990s: The Opportunities and Risks Facing Texas and Other States Eric A. Hanushek American Education After A Nation at Risk Milton Goldberg Meeting the Challenges in Education Paul F. Roth 39 .45 51 Session Two-The Challenges of the International Marketplace The Canada-U.S. Free Trade Agreement: A New Reality, A New Challenge Carl E. Rufelds 57 The Mexican Economy William C. Gruben 65 The Challenges ofthe International Marketplace: The Far East Lawrence B. Krause 75 Session Three-eritical Issues The Role ofFinancial Institutions in Economic Development Jerry 1. Jordan 81 Technological Innovation in the Southwest Keren Ware 93 The Environment and Economic Growth in the Southwest John A. Baden 99 Energy in the Future ofthe Southwest Stephen P.A. Brown 121 Contents vii Session Four-The Southwest Economy: The Next Year and the Next Decade Arizona's Economic Outlook Lee R. McPheters 127 Louisiana in the 1990s: A Different Decade Loren C. Scott 139 The New Mexico Economy M. Brian McDonald 147 The Oklahoma Economy: The Next Year and the N