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Education has been considered a cornerstone for human and economic development. Although there is a national educational strategy in most countries, various implementations are at the state level. This paper studies academic efficiency at the primary and secondary levels and the human development dimensions -- long and healthy life, being knowledgeable, and enjoying a decent standard of life -- at the state level. For this purpose, a network data envelopment analysis (NDEA) with two stages was proposed. The first stage studies the educational process efficiency, while the second evaluates its impact in the form of the human development index. The study found significant differences between the evaluated states in the education stage, where the lowest efficiencies are mainly in the southwest of Mexico. The results also indicate that better education quality leads to greater regional, economic, and social development at the state level. This study contributes to the NDEA applications on the understanding of the impact that education has in improving the development of the regions holistically.

Since developing countries experience economic and environmental sustainability challenges, it is desirable digging into the linkages between economic and environmental parameters. The purpose of this work is to evaluate the existence of the environmental Kuznets curve (EKC) theory (i.e., the inverse U-shape connection between real GDP per capita and per capita carbon dioxide emissions) in the sample of 11 developing countries. By using balanced annual panel data in the period between 1992 and 2014 and two alternative estimation techniques, we explored the potential inverted U-shaped linkage between carbon dioxide emissions and real GDP per capita in the sample of interest. For analysis purposes, Pedroni and Westerlund co-integration techniques are employed. Then, fully modified ordinary least squares, pooled mean group methods are applied for long-run parameter estimations. And, the Dumitrescu-Hurlin causality approach is employed for causal directions. Firstly, this work's findings provide the supportive evidence to the inverse U-shaped linkage in the long-run, indicating that an increase in real GDP per capita and electricity consumption tends to mitigate long-run carbon dioxide emissions in the developing countries, for the whole sample. Secondly, the country-specific findings suggested the presence of EKC theory for Brazil, China, India, Malaysia, the Russian Federation, Thailand, and Turkey. It implicated that these countries are on the path of attaining environmental sustainability in the long-run. However, Mexico, Philippines, Indonesia, and South Africa failed to lend credence to the EKC theory. It manifested that these countries need to design strategies directed to reduce carbon dioxide emissions from economic activity and electricity generation through efficiency improvement or promotion of renewables. Finally, bidirectional causal links are observed among all the variables of interest. The findings suggest that country-specific targeted action plans should be implemented to ensure the environmental sustainability in the developing world.

This study explores the relationship between remittances received, education expenditure, energy use, income, poverty, and economic growth for a panel of the nine selected remittance-receiving countries (Bangladesh, China, Egypt, India, Indonesia, Mexico, Nigeria, Pakistan, and Philippines). World Development Indicator database is used for retrieving data from the period of 1990 to 2014. Panel cointegration technique is used to test the long-run relationship among studied variables. Furthermore, the autoregressive distributive lag (ARDL) model is applied to confirm the presence of a long-run and short-run relationship. The findings of the ARDL model indicate that remittances received positively influence economic growth, and there is a significant relationship between remittances received and economic growth during the long-run. Education expenditure, energy use, and income also positively and significantly impact economic growth during the long-run. In contrast, final household consumption used in this study as a proxy of poverty showed a significant negative effect on economic growth during the long-run, which indicates that increasing poverty will reduce economic growth; on the other hand, reducing poverty will boost economic growth in the selected countries during the long-run.

The ecological footprint has currently become a highly popular environmental performance indicator. It provides the basis for setting goals, identifying options for action, and tracking progress toward stated goals. Because the examination of the existence of convergence is important for the climate change protection of the earth, the convergence of ecological footprint and its subcomponents are a major concern for scholars and policymakers. To this end, this study aims to investigate the stochastic convergence of ecological footprint and its subcomponents. We employ the recently developed Hepsag (2021) unit root test that allows nonlinearity and smooth structural change simultaneously to study stochastic convergence in per-capita ecological footprint over the period 1961-2018 for the most polluting countries. The results provide mixed evidence of the presence of stochastic convergence in conventional unit root tests such as ADF, KPSS and Fourier KPSS. According to the Hepsag (2021) unit root test results for all countries, built-up land footprint converges except Australia, Malaysia, Poland, and Turkey. Carbon footprint converges for Indonesia, Malaysia, Mexico, South Africa, Thailand, Turkey, the UK, and the USA. Cropland footprint converges for Australia, Canada, China, France, Indonesia, Italy, Japan, Korea, Malaysia, Mexico, Poland, South Africa, the UK, and Vietnam. Fishing grounds footprint converges in Brazil, France, Germany, Indonesia, Italy, Mexico, South Africa, and Vietnam. Forest product footprint converges in Australia, Canada, France, Germany, India, Korea, Mexico, Poland, Turkey, and Vietnam. Grazing land footprint converges in Canada, France, India, Indonesia, Japan, Korea, Poland, South Africa, Thailand, and Vietnam. And lastly, the total ecological footprint converges in Canada, France, Korea, Malaysia, Mexico, South Africa, the UK, and the USA., (© 2022. The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature.)

This paper analyzes the impact of international oil price uncertainty on the different economic sectors (primary, secondary, and tertiary) in Mexico in the period 1993:1-2020:4 through a bivariate structural vector autoregressive (VAR) model with a generalized autoregressive conditional heteroskedasticity (GARCH) in mean to capture the impact of oil volatility on economic growth at the sectoral level of economic activity. The results show that the uncertainty of the international price of oil has a differentiated effect on the different sectors of economic activity in Mexico since it does not influence the primary sector; it negatively impacts the secondary sector, and there is mixed evidence in the tertiary sector. Additionally, evidence is provided that both positive and negative shocks to the international oil price have asymmetric effects at the sectoral level in Mexico. The results highlight the need to implement public policies, at the country level, that help mitigate the effect of uncertainty in the oil market and promote economic stability at the sector level., (© 2022. The Author(s).)

Purpose: This paper presents a university service-learning program as an innovative model of assistance to deliver business development services to Mexican microenterprises. Design/methodology/approach: The main objectives were to deliver business development services in situ at no cost to unprivileged enterprises, conduct research on microenterprises development and build up a service-learning model of teaching and learning for students in the field of economics and surrounding disciplines. It was implemented by the Autonomous University of Baja California. It plays an important role in providing real cases and concepts on business, economics, markets and fiscal regulations. The service-learning approach prepare to students to be generous, selfless, problem solvers and job creators. Findings: The experience demonstrates that program can play a key role, both in supporting disadvantaged microenterprises and in providing meaningful learning experiences to students. The program has shown its ability to take advantage of institutional, human and financial resources already released to higher educations institutions (HEI) and government, to support social business extensively, as to make less critical the use of resources in the form of subsidies. Originality/value: This program was employed by the Mexican State Government of Baja California as a compensatory public policy against the unemployment burden created by the global crisis between 2009 and 2013. About ten thousand individuals pushed to necessity-driven entrepreneurship or informal social enterprises were assisted, trained and formalized in the tax authority by 700 university senior students.

Purpose: The purpose of this paper is to evaluate and determine the effectiveness of university education on the economy of various countries. Design/methodology/approach: To determine the necessity and expedience of making provision for the effectiveness of university education on the market economy, this work uses the method of regression and correlation analysis. Evaluation of effectiveness of the system of university education is performed separately for students, state, and employers by taking as example countries with specially developed formulas. Findings: The authors substantiate the necessity for provision of effectiveness of university education on the market economy, view the effective system of university education as a basis for the development of a knowledge economy, determine approaches to evaluate the effectiveness of university education on the market economy, perform evaluation of effectiveness of the system of university education by the example of various countries, determine its connection with indicators of economic growth and development, and provide recommendations for provision of effectiveness of the system of university education on modern market economies. Practical implications: The practical value of results of the conducted research consists in the possibility to use the developed formulas for determining the level of effectiveness of the system of university education on various countries of the world. Originality/value: Theoretical value of this paper consists in the possibility for the application of authors' conclusions and recommendations in the process of development of the policy of management of effectiveness of university education system.

This paper examines the relationship between skills prices (wage premiums) and inequality in migrant sending countries (mainly from Latin America) and explores the implications for education policies. Most of the evidence is based on the case of Mexico, a Latin American country that is also an Organisation for Economic Co-operation and Development (OECD) member. Despite the belief that Latin American countries tend to pay less for their skilled workers than developed countries, they invest a considerable amount of their Gross Domestic Product (GDP) in education and sometimes in scholarships abroad. Therefore, our main question is: Are skill prices really so proportionately low in Latin America? Likewise, what are the impacts of skills prices on migration in Latin America, and Mexico in particular? And, what is the importance of "brain drain" in terms of the relationship between migration and education? We find that despite the enormous inequality in the region, skills prices are not low. Furthermore, high expenditures on education combined with low skills prices do not necessarily result in brain drain. Other factors, such as perceptions of insecurity and corruption, have a stronger effect on the migration of Mexican professionals. Likewise, although high skills prices may lead to economic development, they may also increase social inequality, leading to greater brain drain. Therefore, the expansion of higher education is recommendable even if it reduces salaries and wage premiums in the short term.

This paper focuses on the effects of the transfer of ownership from a state-owned Paper Mill Company to a corporate private ownership. This transfer was the result of the ongoing economic process of globalization, after the industrial boom of the paper mills during the second half of the last century. The paper also focuses on how the employees of this Paper Mill Company live and how they have been affected by globalization and how they feel about their paper mill's new corporate owners. The methodology used was descriptive and exploratory. A sample of ten workers at the company who lived in Atenquique was chosen for an interview. After being inhabited the town of Atenquique developed in terms of population, society and economy. On the other hand the Industrial Company of Atenquique grew during the period when it was a property of the Mexican State. After the company's privatization, the town started to decline and shrink in three above-mentioned variables. The impact on the environmental and economic development has initiated the shrinking and declining of Atenquique and the surrounding cities and towns. [ABSTRACT FROM AUTHOR]

This paper analyses how the United States-Mexico-Canada Agreement (USMCA) supports digital trade and cross-border data flows, while also giving governments the scope to restrict data flows to achieve legitimate regulatory objectives. The USMCA has made significant progress developing rules for digital trade, yet more is needed. In particular, trade policy needs to address the drivers behind the significant growth in restrictions on digital trade by supporting the development of international standards and encouraging international regulatory cooperation as well as good regulatory practice. This paper outlines the key USMCA rules that are applicable to digital trade and analyses what more is needed to support digital trade and data flows consistent with domestic regulatory objectives. [ABSTRACT FROM AUTHOR]

This analysis of Mexico's nanotechnology policies utilizes indicators developed by the Organization for Economic Co-operation and Development, which in 2008 conducted a pilot survey comparing the nanotechnology policies of 24 countries. In this paper, we apply the same questionnaire to the Mexican case, adding business information derived from the National Institute of Statistics and Geography survey on nanotechnologies, also an OECD instrument.

Worldwide, it is widely recognized that violent conflicts constrain economic growth and development. Thus, it is necessary to research and analyse the main causes of violence and their relationship with development. This paper analyses how violence has affected economic development in the Mexican context during the 2000–2015 period. It takes into account that in the last decade, this country has had increased levels of violence, especially since the 'war on drugs' against drug trafficking was promulgated in 2006. This study uses different econometric models that apply the assessments of the panel unit root and cointegration tests and panel cointegration estimation. The results indicate that the tests used to validate the data allow the panel data cointegration relationships to be calculated. They demonstrate the existence of a long-run relationship between violence and economic development. Specifically, the results take into account that gross domestic product per capita and public investments have inverse relationships with the homicide rate, whereas poverty, unemployment, illiteracy and the Gini index have direct relationships with the homicide rate. Moreover, violence is strongly related to the deterrence variables. The findings of this study demonstrate that drug trafficking explains the increased violence in Mexico. Thus, it is important to develop and formulate adequate policies to control this situation, take measures to control violence starting with its root causes and promote social and economic development with a strategy to strengthen legal activities in society. [ABSTRACT FROM AUTHOR]

While higher education is regarded a high priority for economic development in many countries, public budgets often fall short to support desired levels of expansion in higher education. This leads to cost-sharing: students and their families are required to contribute more to the costs of higher education. This paper explores worldwide trends to cope with this issue based on the following questions: Is it fair to ask for larger contributions from students? What are the global patterns and forms of higher private shares in the costs of higher education? And what is the impact of cost-sharing on higher education access and equity? (Contains 4 tables and 2 footnotes.)

This paper uses case studies to focus on distance learning in developing countries as an enabler for economic development and poverty reduction. To provide perspective, we first review the history of telecottages, local technology-equipped facilities to foster community-based learning, which have evolved into "telecenters" or "Community Learning Centers" (CLCs). Second, we describe extensive site visits to CLCs in impoverished portions of China and Mexico, the centers operated by premier universities in each respective country. These CLCs constitute the core of new emerging systems of distance education, and their newness poses challenges and opportunities, which are discussed. Finally, we offer 12 points to develop further the concept and reality of distance learning in support of economic development.

This paper compares men's career opportunities and intra-generational class mobility across periods with markedly different development strategies in Mexico. Despite its significance for social stratification and inequality in Mexico, research on mobility has been relatively scant in recent decades. Using data from the National Retrospective Demographic Survey, my analysis connects development strategies to individual career opportunities by comparing intra-generational class mobility across three cohorts of Mexican men. Results show that occupational opportunities failed to keep pace with rising human capital in Mexico under the neoliberal regime. Instead, entry and mobility into good jobs became more difficult to achieve and downward mobility more prevalent even among highly educated workers.

Changes in values and practices in Mexican higher education in the 1990s are examined, including economic recovery from the 1980s, new funding mechanisms, curriculum development, increased support for research and graduate study, and institutional restructuring. The trend is viewed as moving away from the social welfare model of higher education toward a model focusing on economic development. (MSE)

An(other) world is already existing and present across place. Capitalist-style economic development occurs within and alongside multiple ways of knowing and creating 'livable worlds.' Moreover, as part of the multiple ontologies and epistemologies of what it means to live well together, people practice various forms of economic exchanges. In this paper, I examine how the performance of solidarity in the exchange of coffee assists with rethinking development and what it means to build dignified livelihoods and livable worlds. By decentering capitalism and considering multiple forms of economic exchange, such as those built through solidarity networks, I argue that not only is 'another world possible,' but that it is present and in the continuous and messy process of becoming. Drawing on over a decade of ethnographically informed work with coffee cooperatives in rebel autonomous zones in Chiapas, Mexico and coffee roasters in the U.S. I ask, how do capitalist and more-than-capitalist exchanges both foster and expose the friction in economic development solidarity work? Here, I address development as multiple, rather than other forms as 'alternative' as part of the project of destabilizing capitalist hegemony and making visible already existing performances and practices of development that transcend white, western, and Anglophone ways of knowing and being. [ABSTRACT FROM AUTHOR]

Copyright of Mexican Journal of Economics & Finance / Revista Mexicana de Economia y Finanzas is the property of Instituto Mexicano de Ejecutivos de Finanzas 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 special issue explores the operationalization of the triple helix system in developing countries by examining the university-industry relationship and its implications for national and regional innovation systems. The five papers in this issue attempt to set in perspective the role of universities in capacity building in four developing countries (India, Mexico, Chile and Thailand). The papers are based on in-depth case studies drawing on system theories such as the national and regional systems of innovation, national innovative capacity, and the triple helix system. They draw useful lessons of policy import for university managers and higher education policy-makers, local government officials and regional industry associations. They also underline the importance of policy initiatives for networking and collaboration between industry, university and government agencies. The key factors that would need to be taken into account by policy-makers and university authorities in order to ensure continuing, effective, working relationships with industry are also highlighted. [ABSTRACT FROM AUTHOR]

Compares the U.S. objective of protecting the knowledge required to develop certain products to environmental protection in the United States-Mexico Free Trade Act negotiations. Argues that environmental regulation should be included in the negotiations with force equal to that for intellectual rights protection. (55 references) (MDH)

Copyright of Pravnik is the property of Czech Academy of Sciences, Institute of State & Law 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 examines the short and long-run relationships between Foreign Direct Investment (FDI), Trade Openness and GDP in China, India and Mexico from 1980 to 2011. Based on the properties of individual time series data, the paper estimates the VAR or VECM of the three variables to determine short and long-run causal relationships. The results confirm the existence of long-run causal relationships between the three variables for China and Mexico. The results also point to sharp differences in short-run causal relationships in the three countries and several plausible explanations consistent with the findings are offered. [ABSTRACT FROM AUTHOR]

Copyright of Realidad Economica is the property of Realidad Economica 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 Area Development & Policy is the property of Taylor & Francis Ltd 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 article presents abstracts on research related to economics including "The oil resources of Timor-Leste: curse or blessing?," by Mats Lundahl and Fredrik Sjholm, "Transitional economy of Myanmar: present status, developmental divide, and future prospects," by Mya Than and Myat Thein, and "The roles of capital and technological progress in Vietnam's economic growth," by Phan Minh Ngoc.

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]

Evaluates public education's contributions to Mexico's economic development from 1952-1982. Finds education's principal contribution has not been to improve human capital or government competence; education has instead been a vital source of political capital that has helped to maintain the political system as an "inclusionary corporatist" state. Highlights unresolved issues. (BRR)

Copyright of Revista Punto de Vista is the property of Revista Punto de Vista 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.)

This paper contributes to the growing literature regarding the role of Information and Communication Technologies as well as Innovation on driving the level of carbon dioxide emissions and economic growth in context of the 21st conference of the Parties to the Climate convention (COP21). Drawing the data from 13 selected G-20 countries (including Argentina, Canada, China, France, Germany, Italy, Japan, Mexico, Republic of Korea, Russian Federation, Turkey, United Kingdom, United States) during the period of 15 years, our study achieves significant results. First, only five factors impede the carbon emissions namely energy price, foreign direct investment, technology, spending on innovation and trade openness while the remainder of determinants contribute to contamination of environment, including financial development. Second, when it comes to economic growth, information and communication technological and financial development are positive driving factors. Our results do reject the absence of Environmental Kuznets Curve (EKC) from our sample. Finally, our study empirically suggests that the work of controlling consumption of oil and environmentally friendly process including manufacture-trading in these economies will limit the amount of pollution., (Copyright © 2020 Elsevier Ltd. All rights reserved.)

The developing countries and emerging economies are crucially contributing to global economic development, energy transition, and climate governance. This paper employs panel cointegration technique to investigate the long-run relationship between carbon emissions and five impacting factors (per capita GDP, primary energy consumption, international trade, fossil proportion, and quadratic per capita GDP) in 50 representative developing countries during 1995-2017. The empirical findings confirm the existence of long-run equilibrium, and the regressing coefficients of fully-modified OLS (FMOLS) indicate that (a) impacting features of the inverted U-shaped curve of Environmental Kuznets Curve (EKC) theory appear in a few countries, such as Mexico, Croatia, Kazakhstan, Iran, Algeria, Indonesia, and Thailand; (b) the energy consumption has statistically positive and significant impacts on boosting the carbon emissions; (c) the negative effect of international trade emerges in the developing nations enjoying trade surpluses; and (d) fossil energy share poses a mixed impact. This paper reveals that the vast and inspiring contribution of developing countries to global carbon emission reduction should attract more international attention and assistance.

In this paper, I explore the possibilities of linking and expanding existing sending and receiving countries' initiatives that mobilize immigrants to participate in the development process of their countries of origin in such a way as to advance two main goals of such initiatives: (1) to multiply their developmental impact in sending regions; and (2) to help increase the social and political capital of immigrants and immigrant associations, so as to facilitate both their role in the development of their countries of origin and also their integration in their host societies. In the paper, I will study the Mexican 3×1 programme and Spain's co-development model and explore the ways in which programmes such as these could be ideally linked and implemented, in diverse contexts, in a way that is advantageous to both sending and receiving societies. The paper is based on research conducted over the past 9 years with Mexican immigrant associations in the United States; on interviews with Mexican government officials in Mexico and the United States; and on interviews conducted in 2008 and 2009 in Spain. [ABSTRACT FROM AUTHOR]

Win—win outcomes between biodiversity conservation and local economic development are now a goal of many governments and conservation organizations but can be difficult to achieve. Where they occur, reductions in poverty from protected areas are often thought to be driven by economic gains from tourism that are sufficient to outweigh losses due to restrictions on land‐use or resource extraction. However, evidence about this channel is scarce. In this paper, we explore the potential compensatory effect of tourism by comparing poverty alleviation outcomes for cultural heritage sites in Mexico across two decades from 1990 to 2010. These sites are similar to protected areas in terms of attracting tourists, but they do not impose substantial restrictions on local land or resource use, allowing us to isolate tourism as a possible channel for economic development. Overall, we find mixed evidence that proximity to cultural heritage sites is associated with poverty reduction. During the first study period (1990–2000), localities close to cultural heritage sites saw reduced poverty of 0.034 standard deviations for each additional site. However, during the second period (2000–2010), localities close to heritage sites saw less poverty reduction than the comparison group (−0.014 standard deviations for each additional site). In both periods, poverty alleviation effects were not consistently correlated with the total number of visitors, but were larger further from cities, where baseline poverty was higher, and in the Yucatán Peninsula. This heterogeneity indicates that variability in the ability of local communities to capture benefits from tourism depends on a particular combination of institutional and geographic factors—as was the case in the Yucatan peninsula, where cultural heritage sites had consistent poverty alleviation effects over two decades. [ABSTRACT FROM AUTHOR]

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.)

Copyright of International Economics / Economia Internazionale is the property of Camera di Commercio di Genova 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.)

In this paper we analyze the effect of the implementation of inflation targeting (IT) in Mexico. The analysis focuses on the inflation convergence process between Mexico and the United States, on inflation expectations in Mexico, and on economic growth rates in the Mexican economy. Our results show that neither the fall in Mexican inflation rates nor inflation convergence with the United States can be attributed (only) to the implementation of IT in Mexico. We do not detect any significant effect on economic growth. [ABSTRACT FROM AUTHOR]

Purpose – The purpose of this paper is to analyse the relationship between infrastructure and total factor productivity (TFP) in the four major Latin American economies: Argentina, Brazil, Chile, and Mexico. Design/methodology/approach – The authors hypothesise that an increase in infrastructure has an indirect effect on output by raising productivity. To assess this theory, the traditional Johansen methodology was used for testing the cointegration between TFP and physical measures of infrastructure stock, such as energy, roads, and telephones. The Lütkepohl, Saikkonen and Trenkler Test, which considers a possible level shift in the series and has better small sample properties, was applied to the same data set and the two tests were compared. Findings – The results do not support a robust long-term relationship between the series; the authors do not find strong evidence that cuts in infrastructure investment in some Latin American countries were the main reason for the fall in TFP during the 1970s and 1980s. Originality/value – The present paper addresses the empirical relationship between infrastructure and economic growth for Argentina, Brazil, Chile, and Mexico between 1950 and 2000, using new time series econometric methods finding new evidences on this relationship. [ABSTRACT FROM AUTHOR]

This paper studies the role of education on the economic growth of Mexico. The Uzawa-Lucas Model is used to study the contribution of human capital on growth, while the specific role of education is accounted with a Vector Error Correction (VEC) Model. The main finding of this paper is that an increase of one percent in human capital implies an increase of 1.59 percent on Mexican Gross Domestic Product (GDP). And given the role of education on human capital, an increase of one percent in years of schooling causes an increase in the long run GDP growth rate of 2.19 percent. [ABSTRACT FROM AUTHOR]

Copyright of Investigación Económica is the property of Universidad Nacional Autonoma de Mexico, 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.)

The analysis investigates the correlation between domestic saving and investment as a challenge to sustainably integrating capital stocks and flows in Mexico's quest to progress toward the long-term capacities of developed economies. If the integration of developing economies with developed ones entails the deepening of international capital markets, this would mean moving toward sustainable, long-term growth at the regional level via capital markets in which investment rates are limited by neither domestic saving nor domestic capital markets. By focusing on the Feldstein-Horioka puzzle of domestic investment-saving constancy across countries irrespective of structural changes, this paper analyzes how NAFTA and financial restructuring affected Mexico's saving and private investment decisions between 1970 and 2004. After checking for cointegration, a structural change model shows how investment is limited by saving rates in Mexico and abroad, which are not completely in line with other developing economies. RESUMEN. El analisis examina la correlacion que existe entre el ahorro interno y las inversiones, como un desafio respecto a la integracion para respaldar el capital social y sus flujos, en la busqueda mexicana de convergir hacia las capacidades largoplacistas de las economias desarrolladas. Si la integracion de las economias en desarrollo con las desarrolladas implica la expansion del mercado de capitales internacional, al nivel regional esto significaria un desplazamiento hacia el crecimiento sostenible a largo plazo a traves de los mercados de capital, donde las tasas de inversion no estan limitadas por el ahorro interno ni por el mercado de capitales. Centrados en el rompe cabezas de Feldstein-Horioka sobre la constancia entre la inversion-ahorro internos a traves de los paises, independientemente de los cambios estructurales que se produzcan, este estudio analiza el efecto que el NAFTA y la reestructuracion financiera han ejercido sobre la toma de decisiones mexicanas sobre el ahorro e inversiones privadas en un periodo que abarca de 1970 a 2004. Despues de verificar la cointegracion, el modelo de los cambios estructurales muestra las limitaciones que sufre la inversion debido a las tasas de interes vigentes en Mexico ya que, externamente, ellas no estan completamente y alineadas con las que rigen en otras economias en desarrollo que ya implementaron su apertura. RESUMO. A analise examina a correlacao entre a poupanca domestica e os investimentos, como um desafio a integracao sustentavel de fluxos de capital e capital social, na busca mexicana da conversao rumo as capacidades de longo prazo das economias desenvolvidas. Se a integracao das economias em desenvolvimento com aquelas desenvolvidas expressar o aprofundamento do mercado internacional de capitais, isso significa rumar para o desenvolvimento sustentavel, de longo prazo, no nivel regional, atraves dos mercados de capital, onde os indices de investimento nao sao limitados pela poupanca domestica nem pelos mercados de capital domesticos. Enfocando o quebra-cabeca Feldstein-Horioka sobre a constancia de investimento-poupanca entre os paises, sem levar em consideracao as mudancas estruturais, este estudo analisa como a NAFTA e a reestruturacao financeira afetaram as decisoes de investimento privado e a poupanca no Mexico, entre 1970 e 2004. Apos a verificacao da co-integracao, um modelo com as mudancas estruturais mostra como os investimentos sao limitados pelos indices de poupanca no Mexico e no exterior, nao completamente em linha com outras economias em desenvolvimento que se abrem. [ABSTRACT FROM AUTHOR]

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]

This paper contributes to the empirical research around the "wage-led" or "profit-led" demand regimes. It first reviews how Kalecki, and then Steindl, approached the relationship between economic growth and income distribution. Then, empirical analysis carried out under the probabilistic approach to econometric modeling shows statistical evidence, estimated through cointegration analysis, that in the long run, in three very open economies—Mexico, France, and Korea—the wage share is positively associated with demand and output. It finally discusses the macroeconomic dilemma that almost all countries have to face, i.e., a positive effect of a high-wage policy on demand and employment may diverge from a negative effect on output compatible with external equilibrium. [ABSTRACT FROM AUTHOR]

This article proposes a simple statistical approach to combine nighttime light data with official national income growth figures. The suggested procedure arises from a signal-plus-noise model for official growth along with a constant elasticity relation between observed night lights and income. The methodology implemented in this paper differs from the approach based on panel data for several countries at once that uses World Bank ratings of income data quality for the countries under study to produce an estimate of true economic growth. The new approach: (a) leads to a relatively simple and robust statistical method based only on time series data pertaining to the country under study and (b) does not require the use of quality ratings of official income statistics. For illustrative purposes, some empirical applications are made for Mexico, China and Chile. The results show that during the period of study there was underestimation of economic growth for both Mexico and Chile, while official figures of China over-estimated true economic growth. [ABSTRACT FROM AUTHOR]

This paper addresses the important question of whether public investment spending on economic infrastructure enhances economic growth in Mexico. It estimates a Cobb-Douglas production function that includes public infrastructure capital. Using cointegration analysis, the paper estimates a vector error correction model (VECM) for the 1995 - 99 period. The results suggest that there is a long-term stable relationship among the variables included in the VECM. The evidence also indicates that both public infrastructure spending and private capital formation have a positive and highly significant effect on the rate of output growth. Finally, the impulse response functions (IRF) and the variance decompositions (VDC) of the endogenous variables in the VECM suggest that the response of private capital to public infrastructure is positive while the reverse causation is not affirmed. From a policy standpoint, the findings call into question stabilization policies that disproportionately reduce public infrastructure to meet targeted reductions in the fiscal deficit (JEL, O1, O47, O54). [ABSTRACT FROM AUTHOR]

This paper addresses the important question whether public investment spending on economic infrastructure enhances economic growth and labor productivity in Mexico. Following the lead of the endogenous growth literature, it presents a modified production function which explicitly includes the positive or negative externality effects generated by additions to the public capital stock. Using cointegration analysis, the paper proceeds to estimate a dynamic labor productivity function for the 1955-94 period that incorporates the impact of the growth rate in the stocks of both private and public capital (as opposed to the flows) and the economically active population (EAP) (rather than the rate of population growth). The results suggest that (lagged) increases in public investment spending on economic infrastructure--as opposed to overall public investment spending--have a positive and highly significant effect on the rate of labor productivity growth. In addition, the estimates suggest that increases in government consumption expenditures may have a negative effect on the rate of labor productivity growth, thus suggesting that the composition of government spending may also play an important role in determining the rate of labor productivity growth,. Finally, the findings call into question the politically expedient policy in many Latin American countries of disproportionately reducing public capital expenditures on economic and social infrastructure to meet targeted reductions in the fiscal deficit as a proportion of GDP. (JEL 010, 050); Atlantic Econ. J., 30(4): pp. 365-73, Dec. 02. © All Rights Reserved [ABSTRACT FROM AUTHOR]

This paper looks broadly at the theme of corporate governance in Mexico. It begins with a brief analysis of the historical corporate governance model in Mexico, including the governance structures, the banking and financial systems, ownership and control patterns, industrial policy, and industrial relations. The paper then examines how and why these various aspects of corporate governance have been changing with processes of economic liberalization currently under way. Finally, it analyzes the consequences of changes in the model of corporate governance for the country's development (e.g. increased consumer goods for middle class consumers, increased disclosure by domestic corporations, less support for corporate social programs, etc.). [ABSTRACT FROM AUTHOR]

This paper argues that capital inflows that are not well absorbed by the private sector will cause financial instability under a fixed exchange rate regime. Whether capital inflows, particularly portfolio inflows, are good or bad as perceived by the recipient emerging market depends on how they are allocated and used. They can, if absorbed properly, contribute to a reduction in the cost of capital and to domestic capital formation and economic growth. On the other hand, they can also flood the domestic market, build up official reserves, and appreciate the real exchange rate. Moreover, they are very sensitive to political and economic shocks. Empirical analysis of Mexico's recent experience reveals that the capital influx into Mexico in the past decade did not contribute much to capital formation and economic growth. Instead, they were to a large degree absorbed by official reserves and imports for consumption. Capital inflows were a major factor in Mexico's real exchange rare appreciation. Capital flows in Mexico are found to be adversely affected by U.S. interest rates. [ABSTRACT FROM AUTHOR]

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This paper discusses the operation of banks in developing economies dominated by foreign multinational corporations (FMCs), and argues that banks have acquired new activities without drastically modifying the composition of their income. This discussion takes place in the light of the profound changes in financial systems that have modified the linkages between banks, capital markets, businesses and households, during the period of globalization and financialization. The main argument of this paper is that although foreign multinational corporations have become dominant in developing countries, and bank activities have diversified, the multinational corporations of the banking sector still rely on interest margins, particularly from consumer credit. This is explained in terms of specific bank credit activities that operate under oligopolistic structures, a condition that has not being modified by foreign multinational corporations’ dominance in developing banking markets. [ABSTRACT FROM PUBLISHER]

Copyright of Revista de Historia Económica / Journal of Iberian & Latin American Economic History is the property of Cambridge University Press 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.)