How Has NAFTA Affected the Mexican Economy? Review and Evidence

Ayhan Kose, Guy M. Meredith and Christopher M. Towe
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Guy M. Meredith: International Monetary Fund
Christopher M. Towe: International Monetary Fund

A chapter in Monetary Policy and Macroeconomic Stabilization in Latin America, 2005, pp 35-81 from Springer

Abstract: Abstract This paper provides a comprehensive assessment of the impact of NAFTA on growth and business cycles in Mexico. The effect of the agreement in spurring a dramatic increase in trade and financial flows between Mexico and its NAFTA partners, and its impact on Mexican economic growth and business cycle dy-namics, are documented with reference both to stylized facts and recent empiri-cal research. The paper concludes by drawing lessons from Mexico’s NAFTA experience for policymakers in developing countries. The foremost of these is that in an increasingly globalized trading system, bilateral and regional free trade arrangements should be used to accelerate, rather than postpone, needed struc-tural reform.

Keywords: Gross Domestic Product; Business Cycle; Trade Flow; North American Free Trade Agreement; Gross Domestic Product Growth (search for similar items in EconPapers)
Date: 2005
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-540-28201-3_3

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DOI: 10.1007/3-540-28201-7_3

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