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• catalog abstract "Today Mexico is viewed as a success story in the management of economic adjustment and structural reform. Inflation is under control, capital and foreign investment are returning, and output growth has increased. Mexico's recovery, however, has been neither fast nor smooth, and the social costs the country has borne for the past several years have been very large. In 1982, Mexico faced a severe balance-of-payments crisis. Rampant inflation, capital flight, and a collapse of economic activity were the consequences of an overexpansionist fiscal policy and adverse external conditions. For the next five years, the Mexican government struggled to restore stability and growth without success. Falling oil prices and lack of adequate external financing made these goals extremely difficult to achieve. With the implementation of the Economic Solidarity Pact, inflation was finally brought down in 1988. However, fiscal discipline and far-reaching reforms notwithstanding, growth did not follow. To convince investors to put their capital in Mexico required something more. Initiatives such as the reprivatization of the banking system and the pursuit of a free trade agreement with the United States finally produced the observed turnaround starting in 1990. In this book, Nora Lustig tells the story of adjustment and reform in Mexico from the onset of the debt crisis in 1982 through the early 1990s when the sweeping reforms began to bear fruit. The author looks closely at the social costs of adjustment and who bore the greatest share. In addition, she explores the characteristics of the new development strategy and analyzes the motivations and potential consequences of Mexico's search for greater economic integration with the United States.".
• catalog contributor b3929879.
• catalog contributor b3929880.
• catalog coverage "Mexico Economic conditions 1982-1994.".
• catalog coverage "Mexico Economic conditions 1994-".
• catalog coverage "Mexico Economic policy 1970-1994.".
• catalog created "c1992.".
• catalog date "1992".
• catalog date "c1992.".
• catalog dateCopyrighted "c1992.".
• catalog description "Includes bibliographical references (p. 145-180) and index.".
• catalog description "Mexico's Adjustment and Recovery: A Summary -- 1. The Genesis of the 1982 Crisis. The Golden Years of "Stabilizing Development" Macroeconomic Imbalances and the 1976 Balance-of-Payments Crisis. The Oil Boom and the Onset of the 1982 Crisis -- 2. From Crisis to Recovery. The First Attempt at Stabilization, 1983-85. The Failure of the First Stabilization Program. From the 1986 Oil Shock to the 1987 Run on the Peso. The Implementation of the Economic Solidarity Pact. The Pursuit of Economic Recovery -- 3. The Social Costs of Adjustment. Adjustment, Living Standards, and Income Distribution. Living Conditions before the Crisis. Trends in Earned Real Incomes since 1982. Unemployment and Employment Patterns. Social Income: The Evolution of Public Spending on Social Sectors. Resource Availability in Education and Health. Food Subsidies: From General to Targeted. Social Indicators: Nutrition and Health, Education, and Incidence of Crime. Household Survival Strategies. Who Bore the Costs and to What Extent? -- 4. Public Sector Reforms. Fiscal Policy Reform. Divestiture of Public Enterprises. Deregulation -- 5. Looking Outward: Reforms in the Foreign Trade and Investment Regimes. Trade Liberalization. Impact of Trade Liberalization on Economic Performance. Industrial Programs. The Changing Foreign Investment Regime. Intellectual Property Rights. Joining the General Agreement on Tariffs and Trade. Seeking Closer Ties with the United States -- Appendix: Agreement Signed by Mexico and Its Commercial Banks on Debt and Debt Service Reduction.".
• catalog description "Today Mexico is viewed as a success story in the management of economic adjustment and structural reform. Inflation is under control, capital and foreign investment are returning, and output growth has increased. Mexico's recovery, however, has been neither fast nor smooth, and the social costs the country has borne for the past several years have been very large. In 1982, Mexico faced a severe balance-of-payments crisis. Rampant inflation, capital flight, and a collapse of economic activity were the consequences of an overexpansionist fiscal policy and adverse external conditions. For the next five years, the Mexican government struggled to restore stability and growth without success. Falling oil prices and lack of adequate external financing made these goals extremely difficult to achieve. With the implementation of the Economic Solidarity Pact, inflation was finally brought down in 1988. However, fiscal discipline and far-reaching reforms notwithstanding, growth did not follow. To convince investors to put their capital in Mexico required something more. Initiatives such as the reprivatization of the banking system and the pursuit of a free trade agreement with the United States finally produced the observed turnaround starting in 1990. In this book, Nora Lustig tells the story of adjustment and reform in Mexico from the onset of the debt crisis in 1982 through the early 1990s when the sweeping reforms began to bear fruit. The author looks closely at the social costs of adjustment and who bore the greatest share. In addition, she explores the characteristics of the new development strategy and analyzes the motivations and potential consequences of Mexico's search for greater economic integration with the United States.".
• catalog extent "xviii, 186 p. ;".
• catalog hasFormat "Mexico, the remaking of an economy.".
• catalog identifier "0815753136 (pbk. : alk. paper) :".
• catalog identifier "0815753144 (alk. paper) :".
• catalog isFormatOf "Mexico, the remaking of an economy.".
• catalog issued "1992".
• catalog issued "c1992.".
• catalog language "eng".
• catalog publisher "Washington, D.C. : The Brookings Institution,".
• catalog relation "Mexico, the remaking of an economy.".
• catalog spatial "Mexico Economic conditions 1982-1994.".
• catalog spatial "Mexico Economic conditions 1994-".
• catalog spatial "Mexico Economic policy 1970-1994.".
• catalog subject "338.972 20".
• catalog subject "HC135 .L87 1992".
• catalog tableOfContents "Mexico's Adjustment and Recovery: A Summary -- 1. The Genesis of the 1982 Crisis. The Golden Years of "Stabilizing Development" Macroeconomic Imbalances and the 1976 Balance-of-Payments Crisis. The Oil Boom and the Onset of the 1982 Crisis -- 2. From Crisis to Recovery. The First Attempt at Stabilization, 1983-85. The Failure of the First Stabilization Program. From the 1986 Oil Shock to the 1987 Run on the Peso. The Implementation of the Economic Solidarity Pact. The Pursuit of Economic Recovery -- 3. The Social Costs of Adjustment. Adjustment, Living Standards, and Income Distribution. Living Conditions before the Crisis. Trends in Earned Real Incomes since 1982. Unemployment and Employment Patterns. Social Income: The Evolution of Public Spending on Social Sectors. Resource Availability in Education and Health. Food Subsidies: From General to Targeted. Social Indicators: Nutrition and Health, Education, and Incidence of Crime. Household Survival Strategies. Who Bore the Costs and to What Extent? -- 4. Public Sector Reforms. Fiscal Policy Reform. Divestiture of Public Enterprises. Deregulation -- 5. Looking Outward: Reforms in the Foreign Trade and Investment Regimes. Trade Liberalization. Impact of Trade Liberalization on Economic Performance. Industrial Programs. The Changing Foreign Investment Regime. Intellectual Property Rights. Joining the General Agreement on Tariffs and Trade. Seeking Closer Ties with the United States -- Appendix: Agreement Signed by Mexico and Its Commercial Banks on Debt and Debt Service Reduction.".
• catalog title "Mexico, the remaking of an economy / Nora Lustig.".
• catalog type "text".