The aim of this paper is to disentangle the effects of trade liberalisation during the mid-1980s from the liberalisation involved in the North American Free Trade Agreement (NAFTA) on exports, imports and the balance of payments in Mexico. The main empirical results suggest that the trade reforms during the mid01980s had a significant impact on trade, exports and imports; however, the effects of NAFTA 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, and this 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.
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Paper provided by Department of Economics, University of Kent in its series Studies in Economics with number
0401.
Length: Date of creation: Jan 2004 Date of revision: Handle: RePEc:ukc:ukcedp:0401
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Find related papers by JEL classification: C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
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