 Why is Mexico not yet developed?Gerardo Esquivel Chapter 24 in The Elgar Companion to the Economies of Latin America and the Caribbean, 2025, pp 489-503 from Edward Elgar Publishing Abstract: This work analyzes the economic performance of Mexico since 1950. It describes the process of rapid growth that occurred between 1950 and the early 1980s. It then shows the dramatic change of pace that occurred after the 1980s, with successive macroeconomic crises characterized by fiscal and current account deficits, inflation, and devaluations. This period of macroeconomic instability was followed by a period of important structural economic reforms, including privatization and trade openness. However, despite all these reforms, the Mexican economy has not been able to return to a path of rapid and sustained economic growth, although it has managed to maintain macroeconomic stability. We explore some possible answers to the question of why Mexico has not been able to reduce the income gap with its North American neighbors and trading partners. We discuss alternative answers that have been posed in the literature, including the role of micro and macroeconomic policies, the entrance of China to the WTO, as well as the lack of investment in the Mexican economy. Keywords: Mexico; Mexican economy; Economic Growth; Development; Middle-income trap; Latin America (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:elg:eechap:22583_24 Ordering information: This item can be ordered from Access Statistics for this chapter More chapters in Chapters from Edward Elgar Publishing |
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