IDEAS home Printed from
MyIDEAS: Log in (now much improved!) to save this article

Pedro Aspe, Economic Transformation the Mexican Way

Listed author(s):
  • John Williamson

    (Researcher, Institute for International Economics. Washington, DC. USA.)

This book comprises the Lionel Robbins lectures delivered at LSE in 1992. Since Pedro Aspe was at that time some two-thirds of the way through his term as Mexico’s Finance Minister, it provides an account of what he thought he was doing and what he was hoping to achieve, without the benefit of hindsight. The book is agreeably straightforward and surprisingly comprehensive. It could have done with more careful editing, but this is a fault more easily forgiven when the author is a Finance Minister than when he is an academic. The introductory chapter deals with macro policy, with much emphasis on the Pacto. This is followed by chapters on financial and fiscal reforms, the debt problem and liberalization of external trade and payments, privatization, and future prospects for the Mexican economy. The book will surely provide the definitive inside account of the Salinas reforms. Given the author’s position, one can hardly review the book he has authored without also reviewing the program of which he was a principal architect. With the benefit of two years more hindsight than Aspe had, it seems that there are three major grounds for concern about the strategy that he describes and defends. The first is that it led to a new overvaluation of the peso. The second is that the Pacto may have outlived its usefulness. The third is that the evidence so far does not seem to support his hope that Mexico will become an economically more just society. I will discuss these in turn.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL:
Download Restriction: no

Article provided by in its journal Economia Mexicana NUEVA EPOCA.

Volume (Year): IV (1995)
Issue (Month): 1 (January-June)
Pages: 177-179

in new window

Handle: RePEc:emc:ecomex:v:4:y:1995:i:1:p:177-179
Contact details of provider:

No references listed on IDEAS
You can help add them by filling out this form.

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:emc:ecomex:v:4:y:1995:i:1:p:177-179. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ricardo Tiscareño)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.