The political economy of Mexican development: institutions, policies, and economic agents

Leonardo Lomelí Vanegas

Chapter 12 in Economic Development, Economic Growth and Income Distribution, 2025, pp 230-248 from Edward Elgar Publishing

Abstract: An overview of Mexico's performance in its first 200 years since its Independence is presented, adopting a historical and political-economy perspective that pays special attention to how the interactions between key institutions and the main economic, political, and social actors have marked the nation's development path. The central tenet is that institutions are the result of historical processes in which elites and other classes with economic interests, social movements, and external influences shape public policies. These interactions have influenced the general trajectories and major turning points in Mexico's performance in terms of economic growth, inequalities, and poverty. Most relevant for Mexico, the prevalence of an authoritarian or fragile democratic regime has led to vicious circles where elite opposition to fiscal reform and redistribution exacerbates inequality and undermines overall long-term growth. Installing a political regime committed to achieving economic progress, social justice, and social stability requires overcoming enormous political obstacles, a lesson drawn from Mexico's past that remains relevant for the present and future.

Keywords: Mexico; Economic history; Political economy; Growth; Inequality; Political regimes (search for similar items in EconPapers)
Date: 2025
ISBN: 9781803929903
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