Lessons for Policy Reform in Light of the Mexican Experience

Anne O. Krueger

Chapter 3 in International Trade and Labour Markets, 1997, pp 44-61 from Palgrave Macmillan

Abstract: Abstract After the widely-publicized ‘debt crisis’ in the early 1980s, policy makers concerned with development came to recognize that accumulating debt had been but the symptom of deeper problems of flawed economic policy. In many countries, policy ‘reform’ programs were adopted. In some instances, these were undertaken tentatively, and efforts at reform were reversed at the first sign of difficulty. In other cases, reforms addressed some critical policy issues such as unrealistic exchange rates and quantitative restrictions on imports, but failed to tackle the fundamental issues concerning property rights and the role of the state in economic activity. In only a few cases did policy makers go beyond these immediate and pressing issues to attempt to alter the relative role of the market and of the state in the economy.

Keywords: Exchange Rate; Real Exchange Rate; Capital Inflow; Current Account Deficit; Exchange Rate Policy (search for similar items in EconPapers)
Date: 1997
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-14577-5_3

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DOI: 10.1007/978-1-349-14577-5_3

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