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The aim of the paper is to determine the effect of extreme wealth on economic development (human development index and sub-indices) in 64 countries during 2005-2018, with special emphasis on Mexico and China. A dynamic estimation (sys-GMM) is followed. Estimations show that extreme national wealth acts as a constraint on human development for the entire sample of countries, including Mexico and China. Income is found to be most sensitive to this type of wealth, followed by the education index. The analysis confirms that democracy, economic freedom, investment and social spending are underlying factors of HDI. [ABSTRACT FROM AUTHOR]

Copyright of Revista de Economía (Universidad Autónoma de Yucatán) is the property of Universidad Autonoma de Yucatan, Facultad de Economia and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Cimexus is the property of Revista CIMEXUS and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The paper studies the decline of the labor income share (LIS) in Mexico during the 1990-2015 period. The decline is mostly explained by reductions within the economy's major sectors (including manufacturing, tradables, and non-tradables), rather than by a recomposition of value added towards sectors with low labor shares. In contrast to agriculture --where LIS fell due to a shift of labor force from self-employment to wage-employment-- in other major areas of the economy the fall in LIS is explained by reductions within the wage-employment sector. Econometric estimations indicate that parallel declines in the wage share and relative productivity of non-tradables and in the US manufacturing labor share all played a large role in the reduction of the manufacturing wage share in Mexico. More generally, the analysis suggests that the lagging productivity of the economy's informal non-tradable sector --itself a reflection of the country's low aggregate rate of economic growth-- is a crucial factor in the fall of LIS in the formal sectors. The paper concludes by discussing possible explanations for the paradox of the slow rate of economic growth in Mexico despite the rise in the profit share. [ABSTRACT FROM AUTHOR]

Copyright of Revista Telos is the property of Revista Telos and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Revista de Economía (Universidad Autónoma de Yucatán) is the property of Universidad Autonoma de Yucatan, Facultad de Economia and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Problemas del Desarrollo. Revista Latinoamericana de Economía is the property of Universidad Nacional Autonoma de Mexico. Instituto de Investigaciones Economicas and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Territorios: Revista de Estudios Regionales y Urbanos is the property of Universidad de los Andes and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The objective of this paper is to examine the relationship between fiscal and monetary policy coordination and fiscal multipliers in Argentina, Brazil, Chile, and Mexico. To do so, we first look at the theoretical framework of the New Consensus Macroeconomics (NCM), and then analyze the trends in the four countries for variables including consumption, investment, government spending, and interest rates. Finally, we present an estimate of the spending and monetary multipliers with proxy variables. The contribution of this paper consists of one, showing the inexistence of the crowding out effect, and two, quantifying the multipliers for the aforementioned countries. [ABSTRACT FROM AUTHOR]

Copyright of Estudios Económicos is the property of El Colegio de Mexico AC and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Revista Mexicana de Ciencias Politicas y Sociales is the property of Revista Mexicana de Ciencias Politicas y Sociales and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Foro Internacional is the property of El Colegio de Mexico AC and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Redes is the property of Redes-Revista Hispana para el Analisis de Redes Sociales and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of EURE is the property of Pontificia Universidad Catolica de Chile and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Problemas del Desarrollo. Revista Latinoamericana de Economía is the property of Universidad Nacional Autonoma de Mexico. Instituto de Investigaciones Economicas and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Results from studies of the relationship between road infrastructure and regional economic growth have so far been inconclusive. This paper analyzes the effect of the availability of road infrastructure on regional production in Mexican municipalities. At a regional level, the extent of road availability in a municipality was determined using an Geographic Information System (gIS) and ordinary least squares analysis, which identified the existence of a positive relation between road density and production in municipal regions. It was shown that the most significant impact of roads on gross regional production is in the manufacturing and retail sectors, while roads have no significant impact on agriculture, livestock production, fishing, and mining. Toll-free roads in particular afford increased regional benefits in comparison to toll roads. [ABSTRACT FROM AUTHOR]

This paper introduces an empirical model drawing on data generated over a decade of analysis, aiming to explain the impact of intellectual property by using patent records as an indicator. The model moreover correlates patenting with economic development and growth in Mexico. The pattern that emerges is a positive tie between greater investment in research and development (R+D) on the one hand, and economic development and growth on the other, manifest in the rising volume of national patent applications. The development and implementation of public policies designed to augment intellectual capital and innovation could benefit an emerging economy like that of Mexico in countless ways. [ABSTRACT FROM AUTHOR]

This paper analyzes the characteristics of migration process in Baja California Sur, on the Pacific Ocean coast of northwest Mexico, where immigration has impacted the local economy through the development of tourism and intensive agriculture that target foreign markets. This has encouraged an annual rate of population growth of 10% during the last decade, feeding into employment in both formal and informal sectors. Referring to the cases of women who develop beach vending activities and agricultural workers, this paper seeks to contribute to the understanding of how migration and the informal labor market intertwine [ABSTRACT FROM AUTHOR]

Copyright of Revista de Economía Institucional is the property of Universidad Externado de Colombia and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This paper discusses the growth slowdown of the Mexican economy during the reform and post reform periods. It addresses four possible factors behind the growth deceleration. First, the role of international trade integration, showing that the trade policy reforms of the 1980s and 1990s were in fact very successful in enhancing export growth and trade openness but not in promoting a dynamic pattern of trade specialization. Second, the productivity growth slowdown, arguing that this should be seen as a consequence rather than a cause of the growth deceleration as the evolution of productivity growth is closely associated with the expansion of tertiary underemployment. Third, the discussion of the role of human capital formation suggests that educational and health indicators have been improving during the recent period, partly as a consequence of the demographic bonus, and cannot be held responsible for the fall in output per worker that has taken place since the early 1980s. Finally, the paper focuses on what it believes is the primary determinant of the growth slowdown, the low rate of physical capital accumulation. [ABSTRACT FROM AUTHOR]

This paper studies the link between economic growth and state industrial capital stock accumulation using panel data techniques in the time period 1960-2012. The analysis is done in two moments: the age of national industrialization (1960-1982) and the structural reform era (1983-2012). The results point to a long-term relationship in both periods, but with a sign opposite of the expected sign in the latter, suggesting that the deceleration of industrial capital can explain the slowdown over the past three decades. This result is confirmed with the decline of manufacturing, as well as other economic indicators. The causality tests demonstrate two-way causality between the two variables, evincing a virtuous cycle between growth and accumulation. [ABSTRACT FROM AUTHOR]

Literature on education has focused on comparing student enrollment data, literacy rates, and education systems in developed and developing countries, disregarding the subject of quality in education. This is likely due to the failure to reach an agreement on how to measure it. This paper examines how education can contribute to an increased human capital possessed by labor force, so productivity can be enhanced, and production can be in balance. It also examines how education boosts the economic growth by means of innovation that education also promotes, and answers the question, whether or not quality in education has an influence on the economic growth? by using new methodologies to find a single way of measuring the quality in education in the United Mexican States, and its impact on the economic growth. [ABSTRACT FROM AUTHOR]

Economic opening and the dearth of federal-sponsored sectoral industrial policies pose a novel challenge for subnational governments at the dawn of the new century. This paper will argue that rather than the Mexican state entirely abandoning industrial policy, what really happened was that developmentalist functions were transferred to or appropriated by the subnational level. To do so, two states in the Mexican Republic whose sectoral industrial policies sharply contrast with the federal government-level backpedaling were examined. The literature of "new developmentalism" will serve as the backdrop to this new subnational role in Mexico, marking a divergence from the neoliberal paradigm at the federal level. [ABSTRACT FROM AUTHOR]

This paper discusses the concepts involved in national-regional innovation systems (N-R_I_S) in light of the emergence of knowledge capitalism as a new phase of development, and the neoliberal appropriation of these concepts, pursuant to neoliberalism's position as the predominant development path in this new phase. Against that backdrop, this study looks at the experience of Jalisco, Mexico, the only state that has conceived of and put into practice a development strategy centered on an N-R_I_S and anchored in the electronics-computing and telecommunications sectors, on the neoliberal path the country is following. This study concludes that despite progress made, the fact that public-private partnerships are the main way this strategy operates has prevented the state from gaining a strategic position in the region from the standpoint of developing knowledge capitalism in Mexico and the breach of a "glocalizing" spatiality. [ABSTRACT FROM AUTHOR]

This paper evaluates the Innovation Stimulus Program (PEI) in Mexico through its contribution to the Baja California Regional Innovation System (SRI) between 2009 and 2013. Using additional behavior methodologies, we analyzed the within-company effect and the network effect, as well as the degree of connectivity and number of interactions between stakeholders from the worlds of business, science, and government involved in the SRI. The results reveal that by making funding for innovative projects subject to connections between actors from the realms of business and science, the PEI is helping fortify the SRI by incentivizing 15% of its interactions. [ABSTRACT FROM AUTHOR]

This paper presents an analysis of the potential of the city of San Cristobal de Las Casas and the Altos de Chiapas region to take advantage of the various resources and creative inputs derived from its rich cultural tradition as motivator of economic development. Part of the analysis included here is derived from the application project the city has promoted since 2013 in order to join the UNESCO Creative Cities Network of Craft and Folk Art1. In 2015 the city became the first in Mexico to join this network. This is an unprecedented challenge for Mexico and highlights the opportunity to use its creativity to generate substantial changes in the quality of life of its inhabitants using its own resources in a sustainable way. [ABSTRACT FROM AUTHOR]

This paper sets out to characterize the business dynamics of the software industries located in Mexico City, Monterrey, and Tijuana, beginning with a survey administered by the authors to 175 companies located in the aforementioned cities in 2014. The literature about this industry in Mexico has tended to favor theoretical approaches to innovation and learning and their subsequent application to local cases. This work relies on the logic of clusters (Porter, 1998) and therefore analyzes relationships with the local market in terms of sales and usage of human, financial, and informational resources, revealing regional differences in business dynamics. One important difference is the weight of local competition in Mexico City as compared with the two other cities. [ABSTRACT FROM AUTHOR]

T his paper analyzes the economic vulnerability and economic resilience of Baja California, Mexico, in the context of the 2007 international financial crisis. A methodological approach is proposed to develop vulnerability and resilience indexes, and the region's economic performance from 2003 to 2014 is compared to the other entities. Economic performance is measured by unbundling the SGDP into its cyclical and non-cyclical components (trend). In conclusion, when faced with an external shock, Baja California shows economic vulnerability but also strong economic resilience. [ABSTRACT FROM AUTHOR]

Recent literature has empirically demonstrated that the real exchange rate is essential to explaining the economic evolution of developing countries. It has been empirically proven that the anti-inflation exchange rate policy implemented systematically in Mexico has constituted a major restriction on the country's economic growth, a restriction that has persisted throughout this entire time period, even through different monetary and exchange rate regimes. This paper estimates an svar (1950-2014) that shows how the continuous appreciation of the real exchange rate has curbed Mexico's economic growth capacity and had an impact on other macroeconomic balances. This alone could be considered a highly potent structural macroeconomic reform. [ABSTRACT FROM AUTHOR]

This paper examines the results-based management (rbm) proposal promoted by the Mexican federal government and how this proposal has been applied. This article presents the theory of management according to its results and its effects on competitiveness and well-being. This article analyzes the conceptual elements of the model and the manners in which this model has been instituted both conceptually and operationally in Brazil, Mexico, and the Mexican state of Baja California. Principal findings include the need to strengthen institutional capacities for rbm to enhance competitiveness and well-being at the government level, internalize a vision of strategic change, and prioritize cultural change to generate efficient transparency, accountability and anti-corruption controls by a transversal focus based on the elements of management. [ABSTRACT FROM AUTHOR]

The objective of this paper is to analyze the changes in the traditional scheme of distribution and supply of foods in Mexico, derived from its adaptation to the open economy model. It emphasizes the demographic concentration in cities, technological advances and the simplification of stages of intermediation. Applies a simple methodology that uses data about the number of users of computer, cell phone, with internet access and that also have electronic means of payment. The results suggest that current food supply networks for cities transit towards other schemes as electronic distribution of food, although with certain limitations, as it is still emerging digital infrastructure and transport companies as well as the low level of consumption. The conclusions indicate that this channel has expectations extensive development, as a result of the concentration of consumers in cities, their easier access to credit and the gradual incorporation of digital platforms in shopping, as it is the case of Amazon, 99minutos.com or Hellofood, as well as traditional format stores type Walmart or Comercial Mexicana. [ABSTRACT FROM AUTHOR]

This paper analyzes the implementation of Magical Villages Program in El Oro, State of Mexico, in order to understand the achievements and restraints for local development. The methodology is based on the approach of Arocena (2002), in order to analyze local development from three variables: mode of development, system actors and local identity. It concludes that it is necessary situate the local population as central actors in the process construction of local development, in order to support agreements for solving common problems and equitable distribution of the proceeds generated. [ABSTRACT FROM AUTHOR]

Copyright of Revista Nicolaita de Estudios Económicos is the property of Universidad Michoacana de San Nicolas de Hidalgo and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The aim of this paper is to reconstruct the events underwent by the indigenous community of Mezcala when the Mexican government decided to organize on the Isla de Mezcala one of many celebrations of the Bicentennial of Independence. It is through the narratives of comuneros and young supporters that the institutional networks of power and various governmental actions that allowed the material and symbolic appropriation of the celebrations are unmasked. Likewise, this article proposes to highlight the complexity and connection (global-national-local) of the networks of power and to show the negotiation points opened where different visions of 'development' are confronted that further outline community projects. [ABSTRACT FROM AUTHOR]

Copyright of H-Industria: Revista de Historia de la Industria Argentina y Latinoamericana is the property of H-Industria, Revista de Historia de la Industria Argentina y Latinoamericana and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This topic should be viewed in the context of a few theoretical considerations on local and territorial development. This work will then look at the conclusions of some recent specialized contributions to the study of instability and disparities in Mexico and apply these to the focus of this paper. Studying Yucatan sheds light on the enormous limits and extreme inequalities of development in Mexico and its winding road to growth. Yucatan reflects how Mexico is lagging in employment and education, as well as the extent to which people are leaving rural areas, leading to greater urban concentration. In addition, it provides evidence of an increase in outsourcing, the decline of the maquiladora industry and the departure of local capital from its weak manufacturing sector. This work concludes with a broad critique of this type of development. [ABSTRACT FROM AUTHOR]

This paper analyzes the possible inverse relationship between economic growth as measured by real per capita Gross Domestic Product by State and relative crime levels rates as measured by common, federal and the high impact crimes on relative rates per hundred thousand inhabitants. I analyze the 31 states and the Federal District of Mexico with annual data from 2003-2010. The empirical analysis is based on a panel data econometric model with fixed effects. I conclude that there is a small negative relationship between economic growth of a given entity and the crime rates. [ABSTRACT FROM AUTHOR]

This paper analyzes the impact of the return migration on regional economic activity, as well as its impact on regional social indicators in Mexico. A multivariate regression model was established to estimate the effect of the flow of the return migration on the social and economic development of Mexico. At national level, the average annual growth rate of the population with secondary education was moderate and low for those with technical studies. However, the states with higher return migration such as the states of Michoacán, Guanajuato and Zacatecas experienced a rapid growth of population with secondary and technical education. The econometric results suggest a positive effect of those return migrants with higher levels of education and remittances on regional economic and social development, as well as a negative effect of the return migration that exerts pressure on labor market formal and informal by increasing unemployment rates and the active economic population. [ABSTRACT FROM AUTHOR]

Copyright of Foro Internacional is the property of El Colegio de Mexico AC and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Foro Internacional is the property of El Colegio de Mexico AC and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Foro Internacional is the property of El Colegio de Mexico AC and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Foro Internacional is the property of El Colegio de Mexico AC and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Foro Internacional is the property of El Colegio de Mexico AC and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The aim of this paper is to analyze the relevance of remittances in the economic structure of the households in Chiapas, as well as the use of them, with the intention of knowing the extent they help to the economic reproduction in the state. To do this, first we review the theoretical discussion on the conceptualization of these transfers and their ability to act as a lever of economic development. Then, with data from the ENIGH 2010, we calculate the proportion of households receiving remittances and the relationship of these transfers with the levels and structures of income and expenditure of families, finding that remittances tend to replace the labor remunerations that households lose when a member goes abroad. Also, it is found that, in the short term, a significant proportion of remittances go to savings. [ABSTRACT FROM AUTHOR]

This investigation classifies Mexican states according to their strength for attracting clean development mechanism (CDM) projects, as a means to promote economic development from donating Annex I countries of the Kyoto Protocol. We calculated that 46.5 per cent of all cdm projects are concentrated in the states of Jalisco, Coahuila, Puebla, Durango and Veracruz. The study classifies the 32 Mexican states using cluster analysis, based on three dimensions: potential to achieve gas reductions, institutional capacities to tackle the environment; and the general investment climate. The technique creates five clusters where the key variable responds to greenhouse gas reduction projects. Findings have implications both for cdm policies, their federal and state coordination, and also for invest- ment readiness by some states that demonstrate institutional capabilities, but where State-owned Pemex and CFE have shown low attraction of projects and shallow institutional commitment. The paper contributes to analyze the distribution of this type of projects at sub-national level, and their pulling and limiting forces. [ABSTRACT FROM AUTHOR]

This paper examines the effects of a collaborative science-industry-government program called the Strategic Services (PES). It was implemented to sup-port competitiveness of food industry small and medium enterprises (SMES) in the municipality of Hermosillo. The program is a package of technology services provided by Centro de Investigación en Alimentación y Desarrollo (CIAD). The effects of its implementation are evaluated by means of a set of indicators associated with the competitive performance of the beneficiary companies: increased sales, new products and processes, process improvement and quality. To evaluate PSE, information was obtained through follow-up surveys applied to a sample of participating companies. The final effects of the program and the role played by the characteristics of the firms themselves are evaluated using cluster analysis, as a tool for differentiation and classification of enterprises according to size and the diversity of positive effects caused by the program. [ABSTRACT FROM AUTHOR]

This paper evaluates the importance of infrastructure on economic growth for the Mexican northern border municipalities. From the growth literature, we know that infrastructure, besides other factors, has been pointed out as a key factor in the long run perspectives of regional growth. Nevertheless, and within this thematic context, works that use a disaggregated analysis down to the level of the municipality are still scarce, which in the case of the northern border constitutes a scenario of much relevance given the development model adopted by the Mexican economy in recent decades. Empirical models results indicate that the municipalities of Piedras Negras, Nogales and Torreon maintain a positive relationship between physical infrastructure and growth. In the case of other municipalities like Tijuana, its elevated population growth inhibits a proper infrastructure allocation, although the positive effect induced by infrastructure on growth remains. [ABSTRACT FROM AUTHOR]

This paper analyzes the prospect of economic recovery and the comovement of regional and national economy with a focus on business cycles theory in 1997-2010. We estimate the trend and cycle of composition of growth in each entity with the Hodrick-Prescott filter and an autoregressive model, using employment data. The evidence shows that Nuevo Leon has the capacity to return to its trend growth, but Baja California and Chihuahua has less possibility. Finally, short-term dynamics of these economies shows that the degree of synchronization with the national economy seems to play for the recovery of growth. [ABSTRACT FROM AUTHOR]