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Growth dilemmas in open middle-income economies: a reflection on Mexico's recent experience

Author

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  • Julio López G.

    (Universidad Nacional Autónoma de México, Mexico City, Mexico)

Abstract

This paper proposes an explanation of Mexico's economic evolution during the period in which its neoliberal strategy has been consolidated and consistently implemented. The focus is on global issues. The paper provides an interpretation of macroeconomic developments and the factors behind Mexico's slow growth, with an emphasis on economic policies and their consequences. A particularly important factor is the phenomenal growth of the import coefficient. On the basis of previous findings, the paper also presents some prospective scenarios for Mexico. The main purpose of the exercises is to show the difficulties faced by Mexico, which is very open to international trade, in combining fast growth with external balance.

Suggested Citation

  • Julio López G., 2018. "Growth dilemmas in open middle-income economies: a reflection on Mexico's recent experience," Review of Keynesian Economics, Edward Elgar Publishing, vol. 6(3), pages 333-351, July.
    • Handle: RePEc:elg:rokejn:v:6:y:2018:i:3:p333-351
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    More about this item

    Keywords

    economy-wide country studies; Mexico; economic development; political economy; Keynesian and Kaleckian economics;
    All these keywords.

    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O23 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Fiscal and Monetary Policy in Development
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • O54 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Latin America; Caribbean

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