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From Globalization to Regionalization: The Mexican Case

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  • Wilson Peres Núñez

Abstract

From 1983 to 1989 Mexico pursued a strategy of integration into the global economy and reducing dependence on the US economy. That strategy was based on bilateral sectoral negotiations with the United States and multilateral negotiations through GATT to obtain recipiocity for Mexico’s own trade liberalisation, combined with efforts to attract Japanese and European FDI. Economic reforms included rather harsh macroeconomic adjustments (notably fiscal-deficit reduction), which lowered annual inflation from 200 to 20 per cent, and trade liberalisation, which has helped to make Mexico a leading exporter of manufactures. More gradual and pragmatic reforms were undertaken to promote FDI, deregulate industry and privatise state enterprises.The globalisation strategy was perceived as too ambitious, however, and abandoned in mid-1989 for three principal reasons: the US-Canada FTA was seen as a threat, changes in Eastern Europe were thought to undermine possibilities for significantly ... De 1983 à 1989, le Mexique s’est lancé dans une stratégie d’intégration dans l’économie mondiale et de limitation de sa dépendance à l’égard de l’économie des Etats-Unis. Des négociations sectorielles bilatérales avec Washington, ainsi que les négociations multilatérales dans le cadre du GATT, ont cherché à assurer la libéralisation de ses échanges dans la réciprocité, tout en essayant d’attirer des investissements étrangers directs (IED) de la part du Japon et de l’Europe. Les réformes économiques s’appuyaient surtout sur de rigoureux ajustements macroéconomiques (en particulier, la réduction du déficit budgétaire) qui ont permis de faire passer l’inflation annuelle de 200 à 20 pour cent, et sur une libéralisation des échanges par laquelle le Mexique espérait pouvoir devenir un exportateur de premier plan en matière de produits manufacturés. Entreprises de façon plus progressive et pragmatique, d’autres réformes ont porté sur l’encouragement des IED, la déréglementation dans ...

Suggested Citation

  • Wilson Peres Núñez, 1990. "From Globalization to Regionalization: The Mexican Case," OECD Development Centre Working Papers 24, OECD Publishing.
  • Handle: RePEc:oec:devaaa:24-en
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    File URL: http://dx.doi.org/10.1787/566164701344
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