Competitiveness in the foreign exchange market depends on both country and firm-specific factors. Country-specific factors in the form of the importance in the foreign exchange market of the home currency and the home regulatory and legal system explain much; of the two the legal and regulatory...

Currently, foreign banks own the banks that hold about 80 percent of the assets in Mexican banks. The paper argues that this is the third instance in which foreign-owned banks have initially comprised a large part of the Mexican banking system, and that in the first two cases (1865-1910 and...