Economic Policy Reform in Mexico

Economic Policy Reform in Mexico

A Case Study for Developing Countries

1st Edition - January 1, 1981

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  • Author: Leopoldo Solís
  • eBook ISBN: 9781483152110

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Economic Policy Reform in Mexico: A Case Study for Developing Countries is a five-chapter text about political economy that tries to assess the economic developments in Mexico, especially the attempt at economic reform in the early 1970s. The first chapter examines the period of Stabilizing Development to provide a framework necessary for judging the environment in which the attempts at economic reform were undertaken. This chapter is a piece of applied economics that tries to assess the too frequent attacks against that phase of economic policy. The following three chapters discuss the economic policy objectives of Echeverria's administration, the attempt at tax reform, and the change in the structure and practices of public spending. The final chapter evaluates the experience and draws some inferences about the nature of decision making in economic policy and the constraints faced by a government that wants to use economic policy as an instrument for the promotion of social welfare. This book will prove useful to economists, historians, and researchers.

Table of Contents

  • Preface


    1 Stabilizing Development; A sketch of the 1960s

    ∙ Economic Growth and Price Stability

    ∙ Import Substitution and the Growth of Manufacturing

    ∙ Agriculture: The "Green Revolution" Comes to a Standstill

    Public Investment in Agriculture

    Sources of Agricultural Growth

    The effects of Agricultural Stagnation in the Labor Market

    ∙ The Boom of Financial Intermediation

    ∙ Taxing or Borrowing?

    ∙ Employment, Growth, and Income Distribution

    Domestic and Foreign Equilibrium

    2 Echeverria's Campaign and First Year of Administration

    ∙ The Setting

    The Campaign

    Reform and "Keep Talking"

    Economic Objectives

    The Cabinet

    ∙ Developments before early 1972

    The Attempt to Restore Price and Balance-of-Payments Stability

    The First Recession

    ∙ Measures Necessary for the Realization of the President's Program

    The Dollar Starts Floating: A Lost Opportunity for Economic Reform

    Alternatives of Economic Policy

    The Economic Situation in Early 1972

    3 The Attempt at Tax Reform of 1972

    ∙ The Economic and Political Climate in 1972

    The Spending Spree of 1972

    Political Babble and Entrepreneurial Attitudes

    The Tax Reform Proposal and Its Rejection

    4 1973 and Onwards

    ∙ Stagflation

    Inflation Becomes Unmanageable

    Stop-Go Policies and the Burden of Deficit Spending

    Forcing the Hand of the Private Sector

    Reform on the Spending Side

    ∙ Foreign Indebtedness and Financial Intermediation

    Foreign Indebtedness Soars

    Changes in the Structure of Financial Intermediation

    ∙ Assessments

    Has the Capacity for Growth Been Impaired?

    Orthodox Economic Policies and a Reformminded Government

    Political Timing vs· Economic Timing. Are Politicians Short-Run Maximizers?

    5 Policy Reform in a Developing, Mixed-Economy System

    National Entrepreneurs' organizations

    Labor Unions

    Political and Bureaucratic Elites

    The Middle Class

    Foreign Investors

    ∙ Alternatives

    ∙ Redistributive Mechanisms


    Statistical Appendix


    About the Author

Product details

  • No. of pages: 236
  • Language: English
  • Copyright: © Pergamon 1981
  • Published: January 1, 1981
  • Imprint: Pergamon
  • eBook ISBN: 9781483152110

About the Author

Leopoldo Solís

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