Mexico's recent Energy Reform sent a shock to upend its seventy-five-year-old petroleum monopoly, hoping to cure the ailing industry with injections of foreign investment. Mexico sought to undo a history of state control overnight, but present challenges show that history cannot be undone so...

Market-oriented economic reforms in centrally planned economies have altered the functions and objectives of key policy instruments, particularly in the case of fiscal policy. As a result of reform, economic management requires the use of quot;indirectquot; levers to regulate the behavior of...

Market-oriented economic reforms in centrally planned economies have altered the functions and objectives of key policy instruments, particularly in the case of fiscal policy. As a result of reform, economic management requires the use of “indirect” levers to regulate the behavior of...