This paper tests for a ‘fallacy of composition’ by analysing the demand for exports of the 18 developing countries that are most specialised in manufactures in the markets of the 10 largest industrial countries. Estimated export equations (both time-series and panel data) suggest that most...

This paper estimates the effects of external constraints on growth and investment in the Mexican economy, and how those effects have changed since the economic liberalization of the 1980s and the formation of NAFTA in 1994. Shocks to net financial inflows, world oil prices, the U.S. growth rate,...

This paper investigates why the average growth rate of the Mexican economy has been so disappointing since the trade liberalization of the late 1980s. Some previous work has argued that the growth slowdown can be attributed to a tightening of the balance of payments constraint on Mexico's...

The theme of this book is to analyze whether and how it would be possible for Brazil to double its per capita income in 15 years. The most important determinants of whether Brazil can accelerate its growth sufficiently to achieve such an ambitious goal will undoubtedly be domestic in nature....