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Mexican stabilization plan: 1982-1989

Author

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  • Elena Landau

Abstract

The paper analyses economic policy measures related to the 1982-89 Mexicanstabilization plan. It shows that the first phase was predominantly orthodox. In a second step,a deindexation policy was followed, which kept prices and wages virtually constant duringapproximately two years. The results so far have been significant reduction of inflationrates, the main cost being a loss of foreign exchange reserves and a substantial decrease ofreal wages. The Mexican stabilization experiment is usually presented as a successful caseof adjustment to the external sector crisis and inflation reduction. A decisive test of theprogram, however, will take place when prices and wages were liberalized. JEL Classification: E31.

Suggested Citation

  • Elena Landau, 1991. "Mexican stabilization plan: 1982-1989," Brazilian Journal of Political Economy, Center of Political Economy, vol. 11(4), pages 477-499.
    • Handle: RePEc:ekm:repojs:v:11:y:1991:i:4:p:477-499:id:1478
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    File URL: https://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/1478/1464
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    More about this item

    Keywords

    Inflation; stabilization;

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation

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