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Financial Deepening In Mexico
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Book Synopsis Financial Deepening in Mexico by : Alexander Herman
Download or read book Financial Deepening in Mexico written by Alexander Herman and published by International Monetary Fund. This book was released on 2017-01-30 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: International comparisons reveal that—even controlling for a host of explanatory factors—credit depth is exceptionally low in Mexico. Using panel data methods linking credit growth and fundamentals, this paper estimates a long-term gap between actual and expected credit of about 40 percent of GDP. Possible explanations include the history of banking crises, the large informal sector and an inefficient legal system. Using a disequilibrium regression approach, this paper also finds that supply factors are particularly important as determinants of credit in Mexico. Recent financial reforms address many of the supply constraints, but their success will depend on implementation. The main challenge going forward will be to support financial deepening, while limiting risks to financial stability.
Book Synopsis Mexico's Private Sector by : Riordan Roett
Download or read book Mexico's Private Sector written by Riordan Roett and published by Lynne Rienner Publishers. This book was released on 1998 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: This text examines the responses to the challenges imposed by reforms in Mexico's economic and political systems, and the international economic community for transparent and fair business dealings. Weighing goals of economic reform against its results, prospects for further reforms are evaluated.
Book Synopsis The financial development of Mexico by : Raymond William Goldsmith
Download or read book The financial development of Mexico written by Raymond William Goldsmith and published by . This book was released on 1966 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Deregulation, Financial Development and Economic Growth in Mexico by : Miguel A. Tinoco-Zermeño
Download or read book Deregulation, Financial Development and Economic Growth in Mexico written by Miguel A. Tinoco-Zermeño and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The literature on finance and economic growth establishes that a deregulated financial system increases economic growth in the long run. Mexican financial institutions have endured through two great stages: regulation until 1988 and liberalization after this date until today. Under this framework, it is investigated if in the long run financial development in Mexico has improved productive activity. Specifically, by using a cointegration model, two long-run effects are examined: 1) financial regulation has a negative effect on economic growth, and 2) financial intermediation has a positive impact on productive activity. Moreover, with a short-run causality test based on an error correction model, it is found that neither financial development nor regulation affects the dynamics of GDP; however, regulation does have a negative effect on financial development.
Book Synopsis Mexican Financial Development by : Dwight S. Brothers
Download or read book Mexican Financial Development written by Dwight S. Brothers and published by University of Texas Press. This book was released on 2014-06-23 with total page 253 pages. Available in PDF, EPUB and Kindle. Book excerpt: The development of the Mexican financial system as it has related to the remarkable growth of the Mexican economy is examined in this book. Believing that a better understanding of the past will permit a more nearly accurate appraisal of contemporary problems and facilitate the choice of intelligent policies in the future, the authors present a detailed chronicle and analysis of components of the Mexican financial system, with primary emphasis on the period from 1940 to the mid-1960s. Separate chapters are devoted to the money and capital market, the formulation and execution of monetary and financial policies, and the nature of Mexican financial experience in both the public and private sectors of the economy. The authors offer a theoretical explanation of the record of Mexican experience, based upon their analysis of relationships between monetary policy, domestic stability, and external equilibrium, as well as upon their analysis of factors governing the growth of domestic indebtedness, the development of financial intermediation, and the operation of the loanable funds market. The final chapter of the book, a review of Mexican experience from 1960 to 1965, speculates with respect to the future course of Mexican financial development and offers specific proposal for future monetary and financial policies. This record of Mexican financial development contains much that should be of interest to others engaged in related theoretical and empirical studies, including many lessons for those countries confronted with circumstances and problems not too unlike those encountered in Mexico.
Book Synopsis Mexican Banking and Investment in Transition by : John A. Adams
Download or read book Mexican Banking and Investment in Transition written by John A. Adams and published by Bloomsbury Publishing USA. This book was released on 1997-04-22 with total page 266 pages. Available in PDF, EPUB and Kindle. Book excerpt: Banking and investment in Mexico have changed radically over the past decade, and the economic events that prompted these changes will have a significant impact on Mexico's role in regional and world financial markets. Adams traces the evolution of Mexico's banking and investment activities, reviews current conditions and their implications for future investment opportunities in Mexico, and makes clear that what happens to Mexico's economy and political stability will have major implications for what happens elsewhere in the world. One of the first books to look at banking and investment in Mexico after the peso crash of 1994-1995, with a highly detailed bibliography and notes, Adams's study will be important reading for international business, finance, and investment professionals and for their colleagues with similar interests throughout the academic community. The fate of both Mexico and the United States is that the two countries are forever tied by geography. The historical evolution of the dual interaction between the peoples of these two nations is and will be significant for the future of both countries. With this in mind, the book is divided into chapters reviewing such themes as the interaction and historical financial events that transpired during the advent of the North American Free Trade Agreement (NAFTA) and the expansion of cross-border financial and investment services, as well as a framework and background review of the events leading up to and resulting from the devaluations of the 1970s and 1980s, and more recently the evolution of the peso crisis of 1994-1995. The imperceptible yet gradual economic integration of the two economies has required time in developing, while not always being seamless in its implementation and transition. American macroeconomic policy has long had a direct impact on the economy of Mexico, as is evidenced by the impact of U.S. interest rates on the financial underpinnings of the Mexican treasury and the banking system to assist with the overall economic growth of the nation. An appreciation for the historically sensitive issues and perspectives, be they nationalization of the oil industry, immigration, or market access for foreign financial services, is paramount to a fuller understanding of doing business on both sides of the border.
Book Synopsis Financial Deepening in Mexico by : Alexander Herman
Download or read book Financial Deepening in Mexico written by Alexander Herman and published by International Monetary Fund. This book was released on 2017-02-10 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: International comparisons reveal that—even controlling for a host of explanatory factors—credit depth is exceptionally low in Mexico. Using panel data methods linking credit growth and fundamentals, this paper estimates a long-term gap between actual and expected credit of about 40 percent of GDP. Possible explanations include the history of banking crises, the large informal sector and an inefficient legal system. Using a disequilibrium regression approach, this paper also finds that supply factors are particularly important as determinants of credit in Mexico. Recent financial reforms address many of the supply constraints, but their success will depend on implementation. The main challenge going forward will be to support financial deepening, while limiting risks to financial stability.
Book Synopsis The Inflation Tax, Reserve Requirements and Mexican Economic Development by : Patrick John Newport
Download or read book The Inflation Tax, Reserve Requirements and Mexican Economic Development written by Patrick John Newport and published by . This book was released on 1993 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis States, Banks and Crisis by : Thomas Marois
Download or read book States, Banks and Crisis written by Thomas Marois and published by Edward Elgar Publishing. This book was released on 2012-05-01 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt: ''Thomas Marois'' book, States, Banks and Crisis, is highly attractive to development scholars because of the combinations of topics it discusses, the countries analyzed, and its characterization of financial capital as dominant. In the last century the states of Mexico and Turkey promoted robust economic growth guided by powerful public banking organizations. The book captures how this came to a halt since the 1980s through the privatizing of economic activity, especially banking activities in ways that induced steep banking crises that halted economic development. Marois discusses the theory and history of Mexico and Turkey in depth offering an excellent analysis of their neoliberal experiences while proposing new alternatives to reshape the linkages between the financial sector and economic growth.'' Noemí Levy, National Autonomous University of Mexico (UNAM), Mexico City ''This book attempts to provide a critique of neoclassical and liberal political economists as well as the much-hyped and influential "varieties of capitalism" approach, a variant of institutionalist political economy, by claiming that they are dismissive of "the structural power of financial capital". In this regard, it makes an important contribution to the critical political economy tradition with its detailed analysis of the relations between the state, finance capital and labour in the context of two "emerging capitalisms", Mexico and Turkey. Thereby, it enhances our understanding of how the financial crises function as driving forces of neoliberal transformation by initiating new forms of state specific to peripheral capitalism.'' Galip Yalman, Middle East Technical University, Turkey ''As analysts fixated on the financial crisis convulsing the core capitalist countries, the so-called "emerging markets" also saw stunning tranformations in the world of finance capitalism. This remarkable study by Tom Marois carefully dissects the evolution of the banking industry in two of the most significant state-led capitalisms, Turkey and Mexico, as they formed finance-led neoliberal economic policies. The consequences for their development strategies makes for sober reading. This is a unique and crucial study for students of the comparative political economy of contemporary capitalism.'' Greg Albo, York University, Canada ''Financialization is as financialization does. It is a mix of the universal characteristics of finance within capitalism, its contemporary powerful hold over, even defining feature of, the neoliberal age, and the myriad of specific global markets and countries into which it has penetrated. In a stunning work of comparative political economy, Marois brilliantly weaves together these aspects of finance drawing on both innovative theoretical insights and primary case study evidence from Turkey and Mexico to furnish what will become a classic and original contribution to the understanding of financialization in the developing world, highlighting both the role of the state in the era of putatively free markets and the possibility, indeed, necessity of alternatives.'' Ben Fine, University of London, UK ''Marois has provided us with a fascinating, rigorous and important study of the rise and persistence of finance capitalism in Mexico and Turkey. Drawing on an innovative historical materialist lens, Marois'' analysis reveals the struggles, contradictions, and continued significance of the banking sector in defining and redefining neoliberal-led development in these so-called "emerging markets". This is a very welcome addition to critical understandings of the role of finance and states in the global South.'' Susanne Soederberg, Queen''s University, Canada Thomas Marois'' groundbreaking interpretation of banking and development in Mexico and Turkey builds on a Marxian-inspired framework premised on understanding states and banks as social relationships alongside crisis and labor as vital to finance today. The book''s rich historical and empirical content reveals definite institutionalized relationships of power that mainstream political economists often miss. While leading to a timely analysis of the impact of the Great Recession on Mexico and Turkey, the major contribution of States, Banks and Crisis in its account of emerging finance capitalism. This is defined as the current phase of accumulation wherein the interests of financial capital are fused in the state apparatus as the institutionalized priorities and overarching social logic guiding the actions of state managers and government elites, often to the detriment of labor. This interdisciplinary and accessible study on banking and development will prove to be an important resource for upper-level undergraduates, graduates, and scholars in economics, development studies, political science, political economy, development finance, sociology, international relations and international political economy.
Book Synopsis Mexico Financial Sector Assessment Program by : Internationaler Währungsfonds
Download or read book Mexico Financial Sector Assessment Program written by Internationaler Währungsfonds and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Several state owned financial institutions operating under different licenses provide credit as well as other financial services to virtually all market segments. State owned financial institutions (SOFIs) that provide credit in Mexico operate under different licenses including development banks, development agencies and development trusts. The 2013-2018 National Financing Plan (PRONAFIDE) stablishes ambitious lendingtargets for SOFIs with a view to foster financial deepening, resulting in a pro-cyclical creditbehavior.The Financial Reform of early 2014 sought to facilitate risk taking by DBs andimprove their operation to support the achievement of the PRONAFIDE targets.Currently, DBs support a third of all credit granted to the private sector, of whichabout 12 percent is first tier lending. DBs provide 19 percent of credit to the private sector bothdirectly in first-tier (12 percent) and through intermediaries (7 percent). In addition, DBs guarantee 12.6 percent of the credit provided by the banking system.Despite rapid credit growth, DBs have consistently shown sound asset quality and adequate levels of provisions.Profitability has recently declined as DBs have lowered loan rates to meet credit targets.Recent growth portfolio and declined profitability has put pressures in capitalizationratios in some of the largest DBs, however management of the capital with a groupperspective has resulted in capital reallocations among DBs to preserve ratios above 12percent.Currently, DB operations do not appear to pose mayor fiscal or financial stabilityrisks, but there are important concerns regarding the distortions and inefficiencies that thecurrent expansion of their operations could create. In addition to showing overall robustfinancial sector indicators, stress test conducted on the three largest DBs (Banobras, NAFIN andBancomext) showed their resilience to a variety of shocks. Mexican DBs aim at crowding-inprivate sector participation and thus they have substantial tier-II operations as well as guarantees. However, rapid expansion of their first tier lending poses concerns about crowding out while the introduction of several (albeit small in volume) programs with rate well below market levels raises concerns about financial additionally of their operations as well as sustainability of its financial inclusion efforts.
Book Synopsis Confronting Development by : Kevin J. Middlebrook
Download or read book Confronting Development written by Kevin J. Middlebrook and published by Stanford University Press. This book was released on 2003 with total page 648 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the 1980s, Mexico has alternately served as a model of structural economic reform and as a cautionary example of the limitations associated with market-led development. This book provides a comprehensive, interdisciplinary assessment of the principal economic and social policies adopted by Mexico during the 1980s and 1990s.
Book Synopsis Financial deepening and financial narrowing by : Roberto Eduardo Newell García
Download or read book Financial deepening and financial narrowing written by Roberto Eduardo Newell García and published by . This book was released on 1979 with total page 442 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Financial Sector and Economic Development by : Robert Lee Bennett
Download or read book The Financial Sector and Economic Development written by Robert Lee Bennett and published by . This book was released on 1965 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mexico. The role of the financial aspects sector in economic development, especially in rapid industrialization. The influence of public sector and private sector financing. Interesting for developing countries to study economic growth and low rates of inflation.
Book Synopsis Mexico in the Path of Development by : Enrique de la Madrid Cordero
Download or read book Mexico in the Path of Development written by Enrique de la Madrid Cordero and published by DEBATE. This book was released on 2015-09-18 with total page 219 pages. Available in PDF, EPUB and Kindle. Book excerpt: Enrique de la Madrid examines Mexico's comparative advantages, its growth potential and the challenges of the internal reforms promoted by President Enrique Peña Nieto. Enrique de la Madrid Cordero analyses Mexico's economic growth over the last three decades and the historic opportunity for eliminating its barriers to growth and aspiring to becoming a developed country. Foreword by Luis Videgaray Caso. "Mexico is blessed with a wealth of strengths and comparative advantages, placing it among the countries with the highest growth potential in the twenty-first century. Furthermore, this country has achieved a series of fundamental goals over the years, clearly shown by indicators on education, health, employment, housing and infrastructure, to name only a few. However, despite its strengths and achievements, Mexico's economic growth over the last three decades has been inconsistent and unspectacular; especially considering its potential and the need to end the poverty lived by almost half of all Mexicans. Three elements have caused Mexico's low economic growth: a lack of financial penetration, a shortfall in economic competition and low productivity. These elements have also led to the country's inadequate and unequal distribution of wealth. Today, a favorable international context and a process of profound internal reforms promoted by President Enrique Peña Nieto within the "Pacto por México", Mexico is on the brink of a historic opportunity for eliminating its barriers to growth and aspiring to becoming a developed country within this generation." Enrique de la Madrid
Book Synopsis Development Banking in Mexico by : Miguel D. Ramírez
Download or read book Development Banking in Mexico written by Miguel D. Ramírez and published by Greenwood. This book was released on 1986 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Political Economy of Mexico's Financial Reform by : Osvaldo Santín Q.
Download or read book The Political Economy of Mexico's Financial Reform written by Osvaldo Santín Q. and published by Ashgate Publishing. This book was released on 2001 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: An analysis of the political economy of Mexico's financial reform. It is organized in three parts. The first part - chapters one to four - develops the framework, both historical and institutional. The first chapter outlines the theoretical discussion on state autonomy and develops a simple analytical framework to study public policy decisions. The subsequent three chapters address three main themes: external dependency of domestic states on international capital, political change under President Carlos Salinas and financial policy in Mexico. The second part presents the analysis of three main institutional changes to the financial system - development banking reform, commercial banking privatisation and autonomy of the central bank. Each specific case study shows how the reforms conformed to the ideas of the dominant consensus on economic policy and how they delivered an inefficient incentive structure. The third part - chapter eight - brings together all the elements to explain Mexico's 1994 financial crisis.
Book Synopsis The Global Findex Database 2017 by : Asli Demirguc-Kunt
Download or read book The Global Findex Database 2017 written by Asli Demirguc-Kunt and published by World Bank Publications. This book was released on 2018-04-19 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 2011 the World Bank—with funding from the Bill and Melinda Gates Foundation—launched the Global Findex database, the world's most comprehensive data set on how adults save, borrow, make payments, and manage risk. Drawing on survey data collected in collaboration with Gallup, Inc., the Global Findex database covers more than 140 economies around the world. The initial survey round was followed by a second one in 2014 and by a third in 2017. Compiled using nationally representative surveys of more than 150,000 adults age 15 and above in over 140 economies, The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution includes updated indicators on access to and use of formal and informal financial services. It has additional data on the use of financial technology (or fintech), including the use of mobile phones and the Internet to conduct financial transactions. The data reveal opportunities to expand access to financial services among people who do not have an account—the unbanked—as well as to promote greater use of digital financial services among those who do have an account. The Global Findex database has become a mainstay of global efforts to promote financial inclusion. In addition to being widely cited by scholars and development practitioners, Global Findex data are used to track progress toward the World Bank goal of Universal Financial Access by 2020 and the United Nations Sustainable Development Goals. The database, the full text of the report, and the underlying country-level data for all figures—along with the questionnaire, the survey methodology, and other relevant materials—are available at www.worldbank.org/globalfindex.
