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American financial crisis and its impact on Mexican economy

Author

Listed:
  • María Luisa Saavedra García

    (Docente investigadora de la Universidad La Salle y Tutora del Programa de Posgrado en Ciencias de la Administración UNAM. Col. Condesa, C.P. 06140, México D.F.)

Abstract

This paper aims to conduct a study to determine how U.S. financial crisis will affect Mexican economy. From Minsky’s theory view, it begins with a background of the crisis today and a brief description of the current economic situation in Mexico. Finally, it will consider the economic impact that it will have, given their high dependence on the economy with this country. The main conclusion is that we believe that it will damage Mexican economy, although Mexican financial authorities has been taking measures to mitigate the impact, given that the three most important components of economy are tied to the U.S. economy: manufacturing exports, remittances and oil.

Suggested Citation

  • María Luisa Saavedra García, 2008. "American financial crisis and its impact on Mexican economy," Economía, Instituto de Investigaciones Económicas y Sociales (IIES). Facultad de Ciencias Económicas y Sociales. Universidad de Los Andes. Mérida, Venezuela, vol. 33(26), pages 11-41, july-dece.
    • Handle: RePEc:ula:econom:v:33:y:2008:i:26:p:11-41
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    References listed on IDEAS

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    1. Andrew Berg & Catherine Pattillo, 1999. "Are Currency Crises Predictable? A Test," IMF Staff Papers, Palgrave Macmillan, vol. 46(2), pages 1-1.
    2. Steven A. Block, 2002. "Political Conditions and Currency Crises: Empirical Regularities in Emerging Markets," CID Working Papers 79A, Center for International Development at Harvard University.
    3. Eichengreen, Barry, 2002. "Financial Crises and What to Do About Them," OUP Catalogue, Oxford University Press, number 9780199257447.
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    JEL classification:

    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets

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