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In 1950 Mexico entered an economic takeoff and grew rapidly for more than 30 years. Growth stopped during the crises of 1982-1995, despite major reforms, including liberalization of foreign trade and investment. Since then growth has been modest. We analyze the economic history of Mexico 1877-2010. We conclude that the growth 1950-1981 was driven b...
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Citations
... This disadvantage was substantially attenuated when education was taken into account in the analysis. Mexico and Brazil had smaller sex differences in education and, accordingly, sex differences in cognitive function were smaller and did not substantively change after adjustment for education, possibly reflecting greater investment in education in these two countries [19,32,33]. Sex differences in cognitive function unaccounted for by education are likely attributable to a combination of sex differences in biological and other social, lifestyle, and health factors, such as chronic disease, income, and occupation [34]. ...
Background:
The extent to which education explains variations in sex differences in cognitive function between countries at different levels of economic development is unknown. We examined the role of education in sex differences in four cognitive domains in high- and middle-income countries.
Methods:
Analyses were based on 70,846 participants, aged 60 years and older, in cohort studies from a high-income (United States) and four middle-income countries (Mexico, Brazil, China, and India). We used weighted linear models to allow nationally-representative comparisons of sex differences in orientation, memory, attention, and fluency using the United States as the reference, before and after adjustment for education, and after stratification by education.
Results:
Females had lower levels of education than males in all countries, particularly in India. Before adjustment for education, sex differences in orientation and attention in all middle-income countries, memory in Brazil, China, and India, and fluency in India were less favourable to females than in the United States (P < 0.010). For example, females outperformed males in memory in the United States (mean difference [male-female scores] = -0.26 standard deviations [95% CI -0.30, -0.22]) but not in China (0.15 [0.09, 0.21]) or India (0.16 [0.13, 0.19]). Adjustment for education attenuated these sex differences. In analyses stratified by education, there were minimal sex differences in the high education group in all countries.
Conclusion:
Education contributes to larger female disadvantages in cognitive function at older ages in middle-income countries compared with the United States. Gender equity in education is an important target to reduce sex disparities in cognitive function globally.
... In the weeks following the outbreak of the crisis, stock markets in Argentina, Brazil, Chile and Peru fell 20%, while other emerging markets fell, especially in Asia, where they also recorded significant declines. (Kehoe, 2011) In the aftermath of this crisis, huge aid from the US Treasury, worth $20 billion, and support ...
Financial crises are a global phenomenon, usually associated with large and persistent declines in GDP, investment and productivity as, in order to identify the fundamental factors explaining the financial crises in emerging countries, in particular Mexico. We conducted a standard study using the ARDL model for a set of possible macro indicators explaining the Mexican crisis 1994/95 and its impact on economic growth, based on annual data, during the period 1980-2008. The results indicate that there is a short-term relationship between the variables of the study, we also found a negative impact of all the explanatory variables on economic growth, and this proves the validity of the study.
... A variety of possible explanations have been discussed in the literature, including competition and trade (Kehoe & Meza, 2011;De La Torre et al., 2016), corruption (Gaviria, 2002) and infrastructure investments (Ramamurti& Doh, 2004;William, 2015;Fay et al., 2017). Unfortunately, few studies have looked at the supply chain and operations management decision-making process in emerging countries (Avittathur & Jayaram, 2016), specifically in Latin American countries, and explored how they overcome the barriers imposed by the institutional environment. ...
Introduction of the special issue on Supply chain and operations strategies for problem-solving in Latin American countries: An introduction.
... Many analysts say that Brazil does not grow because it is a closed economy with very high taxes and interest rates that crowd out the 1 Cf. Fishlow (1978), p. 67-68. 2 See also the negative evaluations of Mexico's economic performance by Kehoe and Ruhl (2010) and Kehoe and Meza (2011). 1950 1953 1956 1959 1962 1965 1968 1971 1974 1977 1980 1983 1986 1989 1992 1995 1998 2001 2004 2007 2010 2013 BRA / US MEX / US private sector. ...
Brazil's and Mexico's economies collapsed almost simultaneously in the early 1980s. Their respective outputs per worker remained in a state of near stagnation since then. We develop a comparative analysis to try to understand what went wrong. Macroeconomic magnitudes (capital accumulation and technical progress) exhibit more similarities than differences. These appear more starkly when productivity changes are analyzed at disaggregated levels: by regions, sectors of activity, tradability, firm size, and labor-market informality. Our empirical findings are consistent with a view that Brazil's economic failure is associated to excessive protectionism; Mexico's to heightened domestic polarization.
... Because of this, perhaps unsurprisingly, there has been growing interest in investigating its paltry growth record. Recent studies, for example, attribute Mexico's anaemic growth rate to its oil dependence; others point to the series of economic reforms that were adopted from the early 1980s, particularly rapid trade and financial openness, which led the economy, amongst other things, to become a maquila exporter; others argued that it has been the decline of public and private investment and the overvaluation of the exchange rate; more fundamental or institutional variables have also been signalled as the main root of the problem; finally, although some have recognised the issue of de-industrialisation, there has been little reference to the premature kind and its implications (see, inter alia, Palma, 2003Moreno-Brid et al., 2006;Blecker, 2009;Ibarra, 2008Ibarra, , 2011Ros, 2008;Moreno-Brid and Ros, 2009;Hanson, 2010;Kehoe and Ruhl, 2010;Kehoe and Meza, 2011). In sum, notwithstanding the relevance of these and other studies to an understanding of Mexico's poor growth record, the role of premature de-industrialisation in this and other problems, like the deferral of economic development, has not been examined. ...
The main consequences of premature de-industrialisation are a slowdown in the rate of economic growth and the deferral of
economic development. Despite having adopted a ‘successful’ export-led growth strategy since the early 1980s, these two phenomena
have characterised the Mexican economy during the past three decades. In this article I investigate whether premature de-industrialisation
has been a major contributor to Mexico’s economic stagnation and attempt to identify which factors have been driving it. The
results confirm the hypothesis of premature de-industrialisation and suggest that the evolution of income, capital accumulation,
labour manufacturing productivity, trade openness and the exchange rate provide an explanation for this process. I also suggest
a set of alternative policy measures aimed at returning the Mexican economy to the path of growth and development.
... A lack of incentives and capital to encourage the development of the rural sector has been experienced during recent decades in Mexico. Inefficient policies and a significant economic crisis (Calva, 1999; Bromley and Perrotini, 2011; Kehoe and Meza, 2012) have resulted in the low competitiveness of agricultural products, principally because most rural activities are currently performed in conditions of extensive labour with low technology. The effects of these problems are reflected in the high levels of poverty present in this part of the country. ...
The promotion of development projects based on the commercialization of non-timber forest products has increased in recent decades, showing a positive contribution to rural development; yet it has led to controversial approaches in resource preservation. This paper examines the case of Candelilla wax from the Chihuahuan Desert in northern Mexico, identifying its potential contribution to poverty alleviation in marginal areas, and its unique opportunity to access potential markets of a wide variety of industries all around the world. In this paper, the authors base their analysis on three main aspects: social, economic and environmental. Potential benefits that could be obtained from the collaboration of private institutions, development organizations, policymakers and rural producers through integrated rural development projects are featured.
... The unquestionable progress in price stabilization, in the reduction of the public sector deficit, and in building up a dynamic non-oil export sector has not been accompanied by a higher and sustained growth of the Mexican economy. As Figure 1 shows, the Mexican economy and its manufacturing grew at a slower pace during 1987-2012, after the reforms of the mid-1980s, than from 1960 to 1981 (see Kehoe, 2010;Kehoe & Meza, 2012;Moreno-Brid & Ros, 2009). From 1987 to 2012, the average annual rate of expansion of GDP in real terms was 2.7%. ...
This article explores the need for Mexican policymakers to add an active industrial policy as a key instrument to assist in the nation's so far failed quest for high and sustained economic growth. Mexico implemented drastic reforms in the mid-1980s to open its markets to foreign competition and to reduce the state's intervention in the economy, but these reforms failed to ensure robust economic growth. The article explores myths and facts of the theory and practice of industrial policy. It identifies what type of industrial policy the new administration, which took office in December 2012, will apparently implement during 2013–2018 and how it may, or may not, help to put Mexico onto a path of high, sustained economic expansion.
Este artículo explora la necesidad para el gobierno de hacer de la política industrial un instrumento clave para ayudar a México en su búsqueda, hasta ahora, fallida de un crecimiento económico alto y sostenido. México aplicó reformas drásticas a mediados de la década de 1980 para abrir sus mercados a la competencia extranjera y reducir la intervención del estado la economía, pero estas medidas no lograron asegurar un crecimiento robusto. El artículo explora mitos y hechos de la teoría y práctica de la política industrial. Identifica qué tipo de política industrial la nueva administración, que inició en diciembre de 2012, parece implementará durante 2013–2018 y cómo esta ayudaría, o no, a que México entre en una senda de expansión económica alta y sostenida.
In what order should a developing country adopt policy reforms? Do some policies complement each other? Do others substitute for each other? To address these questions, we develop a two-country dynamic general equilibrium model with entry and exit of firms that are monopolistic competitors. Distortions in the model include barriers to entry of firms, barriers to international trade, and barriers to contract enforcement. We find that a reform that reduces one of these distortions has different effects depending on the other distortions present. In particular, reforms to trade barriers and barriers to the entry of new firms are substitutes, as are reforms to contract enforcement and trade barriers. In contrast, reforms to contract enforcement and the barriers to entry are complements. Finally, the optimal sequencing of reforms requires reforming trade barriers before contract enforcement.
