18 results
Search Results
2. The Foreign Saving Moderating Effect on Public Spending in Mexico.
- Author
-
Roger Alejandro, Banegas Rivero and Neria Andrés, Blancas
- Subjects
PUBLIC spending ,CHARITIES ,PUBLIC debts ,COMPUTABLE general equilibrium models ,BALANCE of payments - Abstract
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.)
- Published
- 2019
- Full Text
- View/download PDF
3. Current account and real exchange rate equilibrium: the case of manufacturing in Mexico, 2001-2019.
- Author
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NALIN, LORENZO and BRID, JUAN CARLOS MORENO
- Subjects
- *
BALANCE of payments , *FOREIGN exchange rates , *ECONOMIC indicators , *NATURAL resources , *TERMS of trade - Abstract
In this paper, we follow Bresser-Pereira et al. (2021) and estimate for Mexico a a series of the real exchange rate (RER) that balances the current account for Mexico for the period 2001q1-2019q4. In this process we take into account numerous determinants, including policy variables and financial indicators the evolution of the terms of trade, as well as a proxi for the Balassa-Samuelson effects, inter alia. Our results show that in most of the period analyzed there has been a trend tendency towards overvaluation, with the RER fluctuating above its equilibrium level. With cointegrating methods, and dynamic ordinary least squared (DOLS) techniques, we examined the effects of exchange rate under and overvaluation on manufacturing; disaggregated in three sectors: i) technology intensive, ii) natural resource intensive and iii) labor intensive activities. Overall, our results indicate that the real exchange rate has a significant influence on the rate of expansion of Mexico's manufacturing real GDP. [ABSTRACT FROM AUTHOR]
- Published
- 2022
- Full Text
- View/download PDF
4. Structural change, the real exchange rate and the balance of payments in Mexico, 1960-2012.
- Author
-
Ibarra, Carlos A. and Blecker, Robert A.
- Subjects
BALANCE of payments ,FOREIGN exchange rates ,FREE trade ,MEXICAN economy ,NINETEENTH century - Abstract
This paper estimates a structural model of the balance of payments, with disaggregated exports (manufactures and other) and imports (final and intermediate), and a reduced-form model of the trade balance for the Mexican economy. The analysis identifies structural changes in the composition of Mexico's trade and the parameters that affect it across five subperiods marked by statistical breakpoints. The results indicate that a tightening of the balance-of-payments constraint may account for the post-liberalisation slowdown in Mexico's growth only during certain subperiods and that the impact of real exchange rate changes on the trade balance has diminished, most likely as a result of the increasing integration of export industries into global supply chains. The results also suggest an asymmetry, whereby a country cannot sustain growth above the rate consistent with balance-of-payments equilibrium, as expected, but it can grow persistently below that rate when other constraints are more binding. [ABSTRACT FROM AUTHOR]
- Published
- 2016
- Full Text
- View/download PDF
5. Migración e integración en Norteamérica: una aproximación desde el modelo de Thirlwall.
- Author
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Osorio Caballero, María Isabel and Negreros Amaya, Gonzalo Esteban
- Subjects
ELASTICITY (Economics) ,GEODESIC distance ,INCOME ,DEPENDENT variables ,NORTH American Free Trade Agreement ,HYPOTHESIS - Abstract
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.)
- Published
- 2024
- Full Text
- View/download PDF
6. Industrial Policy in Argentina, Brazil, Chile and Mexico: a Comparative Approach.
- Author
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Santarcángelo, Juan E., Schteingart, Daniel, and Porta, Fernando
- Subjects
INDUSTRIAL policy ,BALANCE of payments ,FINANCIAL crises ,MACROECONOMICS ,ECONOMIC development - Abstract
Copyright of Interventions Économiques is the property of Association d'Economie Politique 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.)
- Published
- 2017
- Full Text
- View/download PDF
7. BALANZA DE PAGOS, ESTABILIDAD Y CRECIMIENTO EN MÉXICO 1979-2005.
- Author
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Aldana, Yanod Márquez
- Subjects
ECONOMIC development ,ECONOMIC expansion ,INDUSTRIAL policy ,BALANCE of payments ,MEXICAN economic policy ,MEXICAN economy, 1918- - Abstract
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.)
- Published
- 2009
8. The effect of trade liberalization on exports, imports, the balance of trade, and growth: the case of Mexico.
- Author
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Pacheco-López, PenÉlope
- Subjects
INTERNATIONAL trade ,LIBERALISM ,ECONOMIC policy ,TRADE regulation ,IMPORTS - Abstract
The aim of this paper is to disentangle the effects of trade liberalization during the mid-1980s from the liberalization involved in the North American Free Trade Agreement (NAFTA) on exports, imports, and the balance of trade in Mexico. The main empirical results suggest that the trade reforms during the mid-1980s had a significant effect on trade, exports, and imports; however, the effects of NAFTA, at least on exports, are negligible. Since the mid-1980s, the propensity to import has exceeded the propensity to export, and this has worsened the growth rate consistent with balanced trade, which is a major explanation of the slowdown of Mexico's growth in recent years. NAFTA has not delivered the improved growth performance that was promised by Mexico's political leaders at the time. [ABSTRACT FROM AUTHOR]
- Published
- 2005
9. Mexico's Tariff Policy: A Study in Alternatives.
- Author
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Katz, Bernard S.
- Subjects
INDUSTRIALIZATION ,ECONOMIC development ,ECONOMIC policy ,TARIFF ,BALANCE of payments ,TERMS of trade - Abstract
While there is common agreement that Mexico's industrialization period was helped by a protective commercial policy, there has been little testing of this hypothesis. This paper investigates the possibility that Mexico may have used her changing tariff postures not to provide aid for her growing industries but rather to improve either her terms of trade, her revenues or her balance of payments during the 1930-1965 period. The research shows that except for isolated instances none of the individual arguments examined, nor their combination, could explain Mexico's tariff policy. It is therefore concluded that tariffs for protection were employed to achieve industrial development. [ABSTRACT FROM AUTHOR]
- Published
- 1976
- Full Text
- View/download PDF
10. Macroeconomic effects of remittances in Mexican economy and in the State of Chiapas.
- Author
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López-Arévalo, Jorge, Sovilla-Sogne, Bruno, and García-Fernández, Francisco
- Subjects
MACROECONOMICS ,REMITTANCES ,MEXICAN economy, 1994- ,NEOLIBERALISM ,ECONOMIC models ,ECONOMIC policy - Abstract
Copyright of Papeles de Población is the property of Universidad Autonoma del Estado de Mexico 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.)
- Published
- 2011
11. MEXICO ENTERS THE '80s.
- Subjects
MEXICAN economy, 1970-1982 ,ECONOMIC development ,MEXICAN politics & government, 1970-1988 ,INTERNATIONAL trade ,BALANCE of payments ,ECONOMIC indicators - Abstract
The article reports on the economic conditions in Mexico in 1980. Topics discussed include the expected growth of the Mexican economy, the stability of its democratic government, and the country's increased foreign trade. Also mentioned are the country's improved balance of payments, the high demand for capital and consumer goods, and the growth of the construction industry.
- Published
- 1980
12. Country Report: Mexico.
- Subjects
MEXICAN economy, 1994- ,MEXICAN politics & government, 1988-2000 ,ECONOMIC forecasting ,PRESIDENTIAL elections ,GROSS domestic product ,BALANCE of payments - Abstract
The article presents an economic and political outlook for Mexico for the 2006-2007 forecast period. The presidential election will be held on July 2, 2006. It is expected that the next government will safeguard the country's macroeconomic stability. Gross domestic product growth is predicted to accelerate in 2006 before slowing in 2007. The current-account deficit is predicted to widen.
- Published
- 2006
13. Country Report: Mexico.
- Subjects
MEXICAN politics & government, 1988-2000 ,MEXICAN economy, 1994- ,ECONOMIC forecasting ,PRESIDENTIAL elections ,GROSS domestic product ,BALANCE of payments - Abstract
The article presents a political and economic outlook for Mexico for the 2006-2007 period. The presidential election scheduled in July 2006 is not expected to destabilize the country's economy. It is expected that the next government will focus on safeguarding macroeconomic stability. Gross domestic product growth is predicted to slow down by 2007. The current-account deficit is expected to widen due to the slowdown of export volumes and decline of oil prices.
- Published
- 2006
14. A note on intermediate imports and the BPCG model in Mexico.
- Author
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Ibarra, Carlos
- Subjects
BALANCE of payments ,FREE trade ,ECONOMIC equilibrium ,GROSS domestic product - Abstract
Numerous applications of the balance-of-payments-constrained growth (BPCG) model have concluded that Mexico's equilibrium GDP growth rate fell after trade liberalization, because of a sharp rise in the income-elasticity of imports. Following the bounds testing approach of Pesaran et al. (), the present note estimates equations for intermediate and other types of imports in Mexico from 1960 to 2006. It shows that intermediate imports are significantly affected by manufactured exports, and that once the effect is controlled for, there is no significant rise in their income-elasticity-in contrast to what is observed for other types of imports. Since manufactured exports are highly intensive in imports, what the typical BPCG regression detects as an increase in the elasticity of intermediate imports may reflect a compositional effect, namely, the re-composition of GDP towards exports. Some implications for the BPCG model are briefly discussed in the conclusions. [ABSTRACT FROM AUTHOR]
- Published
- 2011
- Full Text
- View/download PDF
15. The Missed Lessons of the Mexican Peso Crisis.
- Author
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Sharma, Shalendra
- Subjects
CURRENCY crises ,PESO (Mexican currency) ,BALANCE of payments ,FOREIGN exchange ,DEVALUATION of currency ,STOCKS (Finance) - Abstract
This article focuses on the Mexican Peso crisis. Notwithstanding the highlighted structural problems, the Banco de Mexico and a number of analysts have pointed out that fundamentals cannot account fully for the Mexican peso crisis. The Mexican crisis did not exhibit a traditional balance-of-payments crisis namely, excessive expansive monetary and fiscal policies. Indeed, Mexico's budget was broadly balanced at no more than percent of gross domestic product (GDP) in 1994. Also, inflation and monetary growth were moderate. Furthermore, the standard models of speculative attacks cannot fully account for the magnitude and severity of the peso crisis. These considerations have led some to conclude that the peso crisis was akin to a self-fulfilling bank run. Specifically, it is argued that although the tesobono stock totaled only about 10 percent of the GDP in 1994, it was large relative to the Bank of Mexico's reserves, and hence vulnerable to a self-fulfilling run. The December 20 devaluation made the investors overreact and pull their money out. Thus, it was this creditor panic and resultant herd behavior that greatly exacerbated the problem.
- Published
- 2001
- Full Text
- View/download PDF
16. Mexican Economic Policy in the Post-War Period: The Views of Mexican Economists.
- Author
-
Solís, Leopoldo
- Subjects
MEXICAN economy ,AGRICULTURE ,INDUSTRIES ,INCOME inequality ,PUBLIC finance ,BALANCE of payments - Abstract
This article describes the outstanding features of the economic behavior and of the nature of economic policy in Mexico since World War II, focusing on topics such as the agricultural sector, the industrial sector, the distribution of income, the financial system, the public finances and the balance of payments, as of June 1971. The agricultural sector has provided many of the outstanding features of the economy of the country. This sector absorbs 50 percent of the labor force and contributes less than 20 percent of the value added in the production process. Even prior to the drastic changes in agricultural production and in the yields per hectare, which permitted the growth of exports and secured the necessary foreign exchange for imports of machinery and equipment, industrial development has been the primary goal of economic development policy since World War II. In the last three decades, however, while Mexico has undergone a process of sustained economic development that has permitted output per capita to increase from 75 dollars in 1940 to 560 dollars in 1968, there have been indications that the process of development itself has engendered inequalities in the income received by the various segments of the population. In the last ten years, the Mexican financial system has experienced a sustained and steady development, as a result of the growing volume of savings. Mexican fiscal policy has had the following main objectives, the determination of a desirable composition of government spending in consumption and investment, the extension of services and assistance lent by the State to the community, spreading educational, medical and social welfare services to the population, the use of tax incentives to foster saving and private investment, making the tax burden more comprehensive by means of income taxes and finally, the use of subsidies and tax exemptions to stimulate industrial development.
- Published
- 1971
17. Trade Complementarity and the Balance of Payments Constraint Hypothesis: A New Free Trade Agreement between Mexico and South Korea.
- Author
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Quintana-Romero, Luis, Mun, Nam Kwon, Andrés-Rosales, Roldán, and Álvarez-García, José
- Subjects
COMMERCIAL treaties ,BALANCE of payments ,BALANCE of trade ,FREE trade ,TRADE regulation ,COMPLEMENTARITY constraints (Mathematics) ,LINEAR complementarity problem - Abstract
Market diversification is one of the keys to success in the new era of world trade. Highly competitive countries have accomplished positive and sustained growth rates by not depending on a single market for their exports and imports. In Mexico, on the contrary, 80% of exports and 45% of imports concentrate in the United States. The South Korean market represents an opportunity for the Mexican economy, as the relationship between the two countries has strengthened in recent decades. This opportunity would promote greater economic growth for both countries if they reached a Free Trade Agreement, as we show in this work. The aim of this research is to assess the complementarity between these countries and estimate their external long-term equilibrium using the Thirlwall trade restriction model. Results confirm the existence of trade complementarity between the two economies and show that these are able to achieve long-term equilibrium in the external sector. Additionally, the Mexican economy would not face balance of payment constraints for growth when trading with South Korea, as it currently does with the United States. [ABSTRACT FROM AUTHOR]
- Published
- 2020
- Full Text
- View/download PDF
18. Economic performance.
- Subjects
MEXICAN economy, 1994- ,GROSS domestic product ,UNEMPLOYMENT ,INDUSTRIAL equipment ,BALANCE of payments - Abstract
The article reports updates on the economic performance in Mexico. Gross domestic product (GDP) grows at 3.8 percent year on year in 2007 driven by the growth of domestic demand and service sectors. Unemployment rate accelerates at 4.1 percent in January 2008 as well as spending on capital goods import at 32 percent. Current-account deficit increases at 0.8 percent in the fourth quarter of 2007.
- Published
- 2008
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