Mexico's Economic Crisisby Miguel Ramirez
In his penetrating analysis of Mexico's current economic, political, and social situation, Ramirez focuses on the major structural problems that underlie the nation's profound economic difficulties and the challenges they pose to its people. Writing for both economists and political scientists, Ramirez offers a framework of analysis for a better understanding of
In his penetrating analysis of Mexico's current economic, political, and social situation, Ramirez focuses on the major structural problems that underlie the nation's profound economic difficulties and the challenges they pose to its people. Writing for both economists and political scientists, Ramirez offers a framework of analysis for a better understanding of Mexico's economic crisis one based on an in-depth examination of both its historical origins and its present ramifications. The discussion is supported by comprehensive coverage of the relevant economic data, making this one of the most thorough treatments of the subject available in print.
Following an introductory chapter that provides essential background information, Ramirez addresses the historical and institutional background of the current situation. His study is unusually broad-based in scope, encompassing such issues as the social costs of modernization and the legacy of revolution during the first part of this century, Cardenas and the revolutionary process, economic growth via import-substitution policies, the exhaustion of the Mexican growth model during the 1970s and 1980s, the IMF austerity program. The final chapters present cogently argued policy recommendations including alternatives to the austerity measures imposed by international lending organizations. Ramirez's conclusions regarding the causes of Mexico's economic decline and his predictions for the country's economic future make an important contribution to the debate over Mexico's economic survival.
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Meet the Author
MIGUEL D. RAMIREZ is Assistant Professor of Economics at Trinity College, Hartford, Connecticut. His previous works include Development Banking in Mexico (Praeger 1986), his articles have appeared in the American Economic Review, the Southern Economic Journal, and the Journal of Inter-American Studies and World Affairs.
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This is a highly readable book that provides an informative and insightful analysis of Mexico's recent economic and financial problems. Its main contribution is to place them within an historical and institutional context, so that the reader is rendered aware of the many challenges and opportunities facing our neighbor to the south. The book is also unique in that it outlines several realistic policy initiatives for confronting these challenges, both for the short run as well as the long run. All in all, a good read.