Differing Effects of the Global Financial Crisis
Why Mexico Has Been Harder Hit than Other Large Latin American Countries
Bibliographic Data
| ID | 3137576 |
|---|---|
| Authors | Gregorio Vidal (0000-0002-6305-4247, Universidad Autónoma Metropolitana), Wesley C Marshall (0000-0002-6231-7180, Universidad Autónoma Metropolitana), Eugenia Correa (Universidad Nacional Autonoma de Mexico) |
| Year | 2011 |
| Volume | 30 |
| Issue | 4 |
| Pages | 419-435 |
| Publication date | 2011-10-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Bulletin of Latin American Research (JOURNAL) |
| Journal identifiers | ISSN: 0261-3050 • E-ISSN: 1470-9856 |
| Publisher | Wiley (PUBLISHER • GB) |
| DOI | 10.1111/j.1470-9856.2010.00501.x |
| OpenAlex | W2119004867 |
| Language | EN |
| Citations received | 4 |
| References cited | 6 |
In this article, we argue that the economic and financial crisis that began in Mexico in 2008 has not been primarily caused by the US crisis that began in 2007, as many have argued. As we will show, years of misguided economic policies at the national level have been at the heart of the Mexican crisis. On the one hand, the dominance of foreign banks in the country's financial system and the minimal presence of the public banks have greatly limited the range of counter-cyclical policy options available to authorities. On the other hand, in the face of the crisis, Mexico has continuously applied deflationary Washington Consensus policies that have deepened the economic contraction. This article will focus on Mexico's individual problems, which offer important lessons for other Latin American countries with a shared recent history of Washington Consensus policies
Deflation · Development economics · Dominance (genetics · Economic policy · Economics · Financial crisis · Financial system · Latin Americans · Macroeconomics · Monetary economics · Monetary policy · Political science · Economic Theory and Policy · Global Financial Crisis and Policies
| Unique citing works | 4 |
|---|---|
| Citations per year | 0,33 |
| Citation span | 2014 - 2024 (11) |
| Citation velocity | recent |
| Highly cited | No |
| Citation types | Neutral: 4 |