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Excess international liquidity and corporate financing in Mexico: reflections from USA monetary policy of quantitative easing

Ximena Echenique-Romero

Chapter 9 in Capital Movements and Corporate Dominance in Latin America, 2021, pp 140-157 from Edward Elgar Publishing

Abstract: This chapter discusses the effect of international liquidity ion the finance of corporations in Mexico. Based on a case study this chapter has three objectives. First, in the context of efficient markets and international liquidity, identify the weaknesses of the unconventional of monetary policy of the United States (2008) and its impact on the structure of corporate refinancing in Mexico. Second, to characterize the potential impact of a U.S. policy of promoting (Quantitative Easing) to corporate financing, particularly on international interest rate differentials, international financial markets efficiency, and financial assets process. Finally, the third objective, is shown through America Movil data that corporate financing in Mexico continues to rely primarily on stock market and corporate bonds.

Keywords: Development Studies; Economics and Finance; Politics and Public Policy (search for similar items in EconPapers)
Date: 2021
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Handle: RePEc:elg:eechap:20026_9