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Confronting Development - Assessing Mexico's Economic and Social Policy Challenges (Hardcover, New)
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Confronting Development - Assessing Mexico's Economic and Social Policy Challenges (Hardcover, New)
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Since the 1980s, Mexico has alternately served as a model of
structural economic reform and as a cautionary example of the
limitations associated with market-led development. Because of the
importance of the Mexican experience in continuing debates about
options available to developing countries, the twenty-three
contributors to this book provide a comprehensive,
interdisciplinary assessment of the principal economic and social
policies adopted by Mexico during the 1980s and 1990s.
Mexico was a pioneer in the shift away from state-led
industrialization and the adoption of market-oriented policies. As
a consequence, Mexico emerged as Latin America' s largest exporter
of manufactured goods, which provided the country' s most dynamic
source of economic growth. Yet trade and investment expansion also
significantly increased the Mexican economy' s vulnerability to
external shocks. A profound financial crisis in 1994-95 deeply
affected Mexico' s economic stability and rate of growth, and
raised persistent questions about whether the country' s new
economic model is capable of achieving sustained growth and
equitable socioeconomic development.
The topics covered in the book are (1) macroeconomic and financial
policies, including the impact of the adjustment process on growth,
inflation, foreign and domestic debt burdens, the Mexican banking
system, and foreign investment; (2) trade, export-led growth, and
industrial policies, with attention to key actors and strategies
behind the rapid expansion of Mexican manufactured exports and the
limitations of this export-led growth model for national
development; (3) social policies and rural development issues,
focusing on education, health care, pensions, and problems
affecting rural Mexico; and (4) poverty, inequality, and employment
problems, notably income distribution and poverty trends, the
efficacy of poverty-alleviation policies, urban and regional
disparities, and the effects of economic liberalization on
employment and wage levels. A final overview section analyzes the
Mexican development experience of the 1980s and 1990s in historical
and comparative context.
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