Ramblings on Mexican underdevelopment -- El Mexicano -- The legacy -- Free traders and capitalists -- Colonialism's thumb -- Lost opportunity -- Internal market -- False miracle -- Death of a dream -- NAFTA

"The authors examine the empirical evidence in support of the poverty trap view of underdevelopment. They calibrate simple aggregate growth models in which poverty traps can arise due to either low saving or low technology at low levels of development. They then use these models to assess the...