Mexico has experienced since 1995. Although fresh domestic bank lending dried up, tradable firms obtained financing in the …

Mexico, a prominent liberalizer, failed to attain stellar gross domestic product (GDP) growth in the 1990s, and since … 2001 its GDP and exports have stagnated. In this paper we argue that the lack of spectacular growth in Mexico cannot be … extraordinary growth of exports and foreign domestic investment (FDI). The key to the Mexican puzzle lies in Mexico's response to …

In this paper, we derive three lessons from Mexico's experience. First, deep reforms like trade liberalization are not … elites breaks down. In the case of Mexico, this happened during a fiscal crisis, when some groups tried to displace other …, Mexico limited radical liberalization to the manufacturing sector. The government has only recently begun to undertake …

In the first quarter of 1995 Mexico found itself in the grip of an intense financial panic. Foreign investors fled … Mexico despite very high interest rates on Mexican securities, an undervalued currency, and financial indicators that pointed … therefore financially vulnerable. Illiquidity exposed Mexico to a self-fulfilling panic …