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This book is the first comprehensive and systematic English-language treatment of Mexico's economic history to appear in nearly forty years. Drawing on several years of in-depth research, Juan Carlos Moreno-Brid and Jaime Ros, two of the foremost experts on the Mexican economy, examine Mexico's current development policies and problems from a historical perspective. They review long-term trends in the Mexican economy and analyze past episodes of radical shifts in development strategy and in the role of markets and the state. This book provides an overview of Mexico's economic development since Independence that compares the successive periods of stagnation and growth that alternately have characterized Mexico's economic history. It gives special attention to developments since 1940, and it presents a re-evaluation of Mexico's development policies during the State-led industrialization period from 1940 to 1982 as well as during the more recent market reform process. This reevaluation is critical of the dominant trend in economic literature and is revisionist in arguing that, in particular, the market reforms undertaken by successive Mexican governments since 1983 have not addressed the fundamental obstacles to economic growth. Development and Growth in the Mexican Economy also details the country's pioneering role in launching NAFTA, its membership in the OECD, and its radical macroeconomic reforms. Carefully argued and meticulously researched, the book presents a wide-ranging, authoritative study that not only pinpoints problems, but also suggests solutions for removing obstacles to economic stability and pointing the Mexican economy toward the road to recovery.
With chapters by leading Mexican economists matched by reactions from European colleagues, this book offers a novel viewpoint on the North American Free Trade Area (NAFTA) process.
There are many theories concerning the relationship between the pace of development and economic growth in different countries. This impressive collection explores the relationship between a country's balance of payments and their rate of economic growth. The evidence and ramifications within the book will be of interest to economists and policy-makers in developing countries.
This book explores key economic problems and new policies for the global economy of the 21st century. The contributors discuss to what extent past policy errors were due to the incompetence of policymakers, and highlight problems including: international payments imbalances and currency crises, volatile security markets, inflation, achieving full employment, income distribution and alleviating individuals and nations of poverty.
This dissertation presents four essays on inequality, credit constraints, and economic growth in the Mexican economy in its recent history, or "contemporary Mexico". In the first essay, it is argued that the possibility that wealth/income inequality could affect economic growth has been neglected in the contemporary Mexican economy literature. Also, preliminary thoughts on the channels through which inequality could have been affecting growth are offered. In the second essay, a time series, macroeconometric analysis on the possible relationship between inequality and aggregate production (GDP) in Mexico is presented. The analysis suggests that an increase in inequality boosts the economy, but that such effect is very short lived and is followed by a much more prolonged negative effect. In the third essay the question of how, if at all, credit constraints have been affecting physical capital investment is addressed. The analysis is carried out using establishment-level data that are both recent and reasonably nationally representative. To the best of my knowledge this is a novel contribution. It is a common tenet of the literature on why Mexico -despite its vast liberalization process occurring since the 1980s- has not achieved high and sustained growth, that credit constraints are an important reason explaining the sluggish growth. When digging deeper in the literature, however, very few empirical studies offering evidence in favor of such claim are found; a contribution using microeconomic data with the intention of being nationally representative could not be found. Consistent with the general claims of the literature, the findings of the analysis are that credit constraints negatively affected investment decisions. The fourth essay examines theoretical issues. The links between credit constraints and growth may seem obvious. But one would still like to have a clarification of the mechanisms, through formal modeling. To the best of my knowledge, such a formal model has not been proposed in the recent Mexican literature. The essay, thus, presents a model in which credit constraints can reduce capital accumulation. It is, I believe, applicable to the contemporary Mexico case.
. . . this volume is a very good and important addition to economic growth and development. On the basis of authority, the selection is well-balanced. . . This book should be a mandatory textbook for graduate students in development economics, and essential reading for all policy-makers. Voxi Heinrich Amavilah, Progress in Development Studies This valuable and engaging new book bears eloquent testimony to A.P. Thirlwall s substantial contribution to economics over the last 40 years. The volume does not attempt to provide a comprehensive review of such a prolific figure, but rather demonstrates the considerable influence that his work on economic theory has had on his contemporaries, and the profession as a whole. From his early pioneering research in regional and labour economics to his more recent exploration of growth and development economics, leading experts in the field bear witness to the significant role he has played in the evolution of the discipline. In addressing some of the most pivotal aspects of his career, the contributors cover a range of topics including Thirlwall s Law , the application of Keynesian macroeconomic approaches, the General Theory within open economies, the connection between short-run cycles and long-run growth, endogenous growth theory, the Stability and Growth Pact, as well as broader development issues and problems. In championing Thirlwall s challenging work, this volume provides a lively and comprehensive account of some of the most important areas of economics today. This book will prove an essential read for academics and policy makers alike who are interested in trade, growth and development economics.
This classic, bestselling textbook provides a comprehensive introduction to the field of development economics. The 10th edition of Tony Thirlwall's book, now co-written with Penélope Pacheco-López, provides a clear, comprehensive and rigorous introduction to the theory of development economics and the experience of developing countries. Balancing a historic approach with current data and references, it provides a wide-ranging analysis of the subject. This all-inclusive methodology succeeds at representing different schools of thought with a balance of micro and macro topics. An ideal textbook for undergraduate students of economics and other social sciences, it is also suitable for upper undergraduate and master's level modules on development economics as an option on a non-economics degree. New to this Edition: - A brand new chapter on human capital:education, nutrition, health, and therole of women in development - New material on the Sustainable Development Goals, the measurementof poverty, and the multidimensional poverty index - Discussion of randomized control trials - The role of structural change in economic development - New IMF lending facilities