Questo libro esplora il dibattito in economia politica sulla liberalizzazione dei mercati finanziari e il suo impatto sullo sviluppo economico, evidenziando il caso del Messico. Si analizza come il modello di modernizzazione messicano, non liberale e basato sulla regolamentazione statale, differisca dalle economie industrializzate.
An analysis of the role of the state in the financial markets
Exploring the concept of liberty within political economy, this book examines the evolving roles of the state and market in financial markets, influenced by historical events like the South Sea Bubble and the Great Crash of 1929. It analyzes various schools of thought on liberty and debates the extent of freedom that should be granted to market participants. Through this lens, the work aims to clarify the balance between state intervention and market autonomy in the context of financial stability and crises.
The costs and benefits of capital account liberalization
The book delves into the critical discussion surrounding financial market liberalization and its impact on economic development, particularly highlighting how this debate, influenced by wealthier nations, has negatively affected less developed countries. Using Mexico as a case study, it explores the country's unique approach to modernization, which contrasts with liberal models by emphasizing state regulation and restrictions on market freedoms, offering insights into the complexities of financial liberalization in a non-liberal context.
The fundamental causes of a financial crisis during the period 1988-1994
The financial crisis in Mexico from 1988 to 1994 can be attributed to a mix of economic, financial, and political factors, particularly under Carlos Salinas's administration. His policies aimed at attracting foreign investment, yet the reliance on instruments like tesobonos and a semi-fixed exchange rate ultimately led to vulnerabilities. The Central Bank's strategies included maintaining exchange rate bands, raising interest rates, and utilizing international reserves. However, issues like excessive private sector lending and a current account deficit destabilized the economy, culminating in the crisis.
Kosten und Nutzen der Kapitalverkehrsliberalisierung
Die Analyse des Buches fokussiert sich auf die Debatte über die Liberalisierung der Finanzmärkte und deren Einfluss auf die wirtschaftliche Entwicklung, insbesondere in weniger entwickelten Ländern. Mexiko dient als Fallstudie, um zu zeigen, dass der Modernisierungsansatz des Landes nicht liberal war, sondern auf einem staatlich regulierten Industrialisierungsmodell basierte. Diese Untersuchung beleuchtet die Herausforderungen und Auswirkungen der finanziellen Liberalisierung im Kontext der mexikanischen Wirtschaft.
Este livro explora o debate sobre a liberalização dos mercados financeiros e seu impacto no desenvolvimento econômico, com foco no México. Analisa como o modelo de modernização mexicano, baseado na regulação estatal, contrasta com as economias industrializadas, que promovem a liberalização em detrimento das economias menos desenvolvidas.