With high debt levels both in pesos and dollars, several large Mexican economic enterprises, were surprised by the December 1994 peso devaluation. Local banks had taken important positions in foreign currency, increasing their short-term debt mainly with foreign brokers. The abrupt peso...

This article analyses several aspects of the divergent economic evolution of North America at the 20-year mark of the North American Free Trade Agreement (NAFTA), with a particular focus on the Mexican economy. Mexico's principal economic role in NAFTA has been that of a secondary exporter, with...

This article analyzes the main features of international financial markets growth from the second half of 1980. It is stated that the sharpening of financial deregulation has modified competence terms among intermediaries whereas national financial structures weaken and the States become...

This paper argues that a fundamental aspect of the process of financialization is the transformation and evolution of certain key institutions. In national spaces, these include those that play essential roles in financing economic activity, such as the central bank and the commercial banking...