What a Difference a Crisis Makes Nafra, Mexico, and the United States
Bibliographic Data
| ID | 4775591 |
|---|---|
| Authors | Stephen D Morris (University of South Alabama), John Passé-Smith (University of Central Arkansas), John T Passe-Smith (University of Central Arkansas) |
| Year | 2001 |
| Volume | 28 |
| Issue | 3 |
| Pages | 124-149 |
| Publication date | 2001-05-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Latin American Perspectives (JOURNAL) |
| Journal identifiers | ISSN: 0094-582X • E-ISSN: 1552-678X |
| Publisher | SAGE Publications Inc (PUBLISHER) |
| DOI | 10.1177/0094582x0102800307 |
| OpenAlex | W2090711594 |
| Language | EN |
| Citations received | 10 |
| References cited | 16 |
Mexico's deep economic crisis, precipitated by the devaluation of the peso in December 1994, had a far-reaching impact. It sent the Mexican economy into a tailspin, unleashing extensive personal and corporate bankruptcies, a deterioration of real wages, unemployment, and malnutrition; it threatened the global financial system, stirring memories of the 1980s debt crisis and triggering financial panic as far south as Argentina (the so-called tequila effect); it altered the perception of economic health in Latin America as many began to glimpse failures in the neoliberal model of development (Naim, 1995); and, according to one observer, it even broke the long-established consensus between the International Monetary Fund (IMF) and the U.S. government (Ramirez, 1996: 29). Mexico's deep economic plunge also transformed the political climate in Mexico, stripping legitimacy from President Ernesto Zedillo while mobilizing opposition to both the long-ruling PRI and the neoliberal model it had championed since the mid-1980s. The crisis had important impacts on trade, immigration, investment, and the perceptions the citizens of both Mexico and the United States had of the North American Free Trade Agreement (NAFTA) and each other. Coming as it did in the first year of NAFTA, the crisis significantly altered the pattern of U.S.Mexican relations. With Jorge Castafeda (1995), Moises Naim (1995), Riordan Roett (1996), and others analyzing the economic and political consequences of the Mexican economic crisis, this article explores the impact of the crisis on NAFTA and U.S.-Mexican relations, with particular attention to its role in altering underlying opinions and perceptions. Included in this analysis is how NAFTA has weakened the ideological consensus in both countries and U.S. cultural hegemony in Mexico. The article is divided into three parts. The first
Currency · Debt · Debt crisis · Devaluation · Development economics · Economic growth · Economic history · Economic policy · Economics · Financial crisis · Great Depression · Latin Americans · Political economy · Political science · Politics · Unemployment · Economic Theory and Policy · Global Financial Crisis and Policies · Politics and Society in Latin America
Between Neo-liberalism and Neo-indigenismo
Renegotiating the World Order
Securitization and sovereignty in post-9/11 North America
Attribution of Blame in the Global Economy
Social Suffering and Embodied States of Male Transnational Migrancy in San Francisco, California
O canto da sereia
Explaining Institutional Change
Why do institutions matter? Global competitiveness and the politics of policies in Latin America
Garment Maquiladoras in the South
Cognitive Images and Support for International Economic Agreements with the United States Among Mexican Citizens
The Postmodernism Debate in Latin America
Preemptive Reform and the Mexican Working Class
The Entrepreneurs Who Became Radicals
Downward Mobility Mexican Workers After Nafta
Exploring Mexican Images of the United States
Nafta and the Mexican economic crisis
Postmodernism and Neoliberalism in Latin America
Foreign Policy and Campaign '96
U. S
A Culture of Collusion
Nafta at Three
Trends
Latin America the Morning After
Culture and Political Power in Mexico
| Unique citing works | 10 |
|---|---|
| Citations per year | 0,4 |
| Citation span | 2001 - 2017 (17) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 9 |