Catch-up Growth Followed by Stagnation: Mexico, 1950-2010

Timothy Kehoe and Felipe Meza

No 17700, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: In 1950 Mexico entered an economic takeoff and grew rapidly for more than 30 years. Growth stopped during the crises of 1982-1995, despite major reforms, including liberalization of foreign trade and investment. Since then growth has been modest. We analyze the economic history of Mexico 1877-2010. We conclude that the growth 1950-1981 was driven by urbanization, industrialization, and education and that Mexico would have grown even more rapidly if trade and investment had been liberalized sooner. If Mexico is to resume rapid growth -- so that it can approach U.S. levels of income -- it needs further reforms.

JEL-codes: N16 O11 O54 (search for similar items in EconPapers)
Date: 2011-12
New Economics Papers: this item is included in nep-his
Note: EFG
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Published as “Catch-up Growth Followed by Stagnation: Mexico, 1950–2010,” Latin American Journal of Economics, 48 (2011), 227–68, with Felipe Meza.

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Working Paper: Catch-up growth followed by stagnation: Mexico, 1950–2010 (2011)
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