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.
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
Reform and "Keep Talking"
∙ 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
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
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
Political and Bureaucratic Elites
The Middle Class
∙ Redistributive Mechanisms
About the Author
- No. of pages:
- © Pergamon 1981
- 1st January 1981
- eBook ISBN: