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Complex stylized facts of the Mexican economy: a hirschmanian perspective (to attack the “fear of growing”, more and better)

Listed author(s):
  • Guerrero de Lizaldi Carlos


    (Universidad Nacional Autónoma de México)

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    We elaborate some complex stylized facts related to the Mexican economy. The analyzed period runs from 1960 to 2013 with selected subperiods. Our main findings are: 1) there are involuntary idle capacities in the manufacturing industries; 2) the growth of the Mexican economy is not balanced but unbalanced; 3) there is an inflation-free environment. This fact is consistent with the previous ones; 4) there is a mixed of efficient and inefficient sequences of investment; 5) the stimulus of manufacturing exports on macroeconomic performance has been offset by its imports; 6) the deficits in manufacturing balance and in the current account have been financed without difficulty. Of course, this financing capacity constitutes a second best condition; 7) according to a backward linkages analysis, the towing capacity of manufacturing sector over the Mexican economy would be a larger one if the manufacturing imports penetration had not been so intense since the trade liberalization; and 8) the size of the positive effect of the manufacturing sector on the economy and on the non-manufacturing sectors diminished since the early eighties. Our complex stylized facts highlight the need for an upgrading of the current economic policies.

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    Article provided by Accounting and Management in its journal Contaduría y Administración.

    Volume (Year): 60 (2015)
    Issue (Month): 2 (abril-junio)
    Pages: 291-325

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    Handle: RePEc:nax:conyad:v:60:y:2015:i:2:p:291-325
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