The New Forms of Economic Dominance in Latin American Economies in the Globalised Era: A Glance at Mexico’s Financial System

Noemi Levy-Orlik

Review of Political Economy, 2024, vol. 36, issue 3, 1233-1252

Abstract: In this paper, we discuss whether economic backwardness in Latin American countries is due to financial limitations (currency weakness and reduced liquidity) or a result of productive structural imbalances. To answer this question, we briefly review the main concepts in Latin American Dependency theories. We then examine the main features of globalisation and internationalisation in the late 20th century, and the Post-Keynesian explanation of economic subordination. Finally, we review the Mexican balance of payments and the main components of the Mexican financial system, including the central bank. We conclude that Mexico’s subordinate position is due to historic productive structure dependence and foreign capital intervention that, in the period of globalisation and internationalisation, added financial instability to economic backwardness, thus impeding the financial and productive systems from fully developing.

Date: 2024
References: Add references at CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1080/09538259.2022.2111809 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:revpoe:v:36:y:2024:i:3:p:1233-1252

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/CRPE20

DOI: 10.1080/09538259.2022.2111809

Access Statistics for this article

Review of Political Economy is currently edited by Steve Pressman and Louis-Philippe Rochon

More articles in Review of Political Economy from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().