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The Financialization Response to Economic Disequilibria

The Financialization Response to Economic Disequilibria

European and Latin American Experiences

New Directions in Post-Keynesian Economics series

Edited by Noemi Levy and Etelberto Ortiz

Europe and Latin America’s social and economic stagnation is a direct result of the unresolved phenomena of the financialization crisis that broke out in 2008 in developed countries. Editors Noemi Levy and Etelberto Ortiz analyze the limitations of economic growth and development under capitalist economic organizations where financial capital is dominant, as well as explore alternative economic policies.

Chapter 13: Private sector finance in the era of deregulation and economic openness: Mexico 2000–2014

Christian Domínguez and Juan Marroquín

Subjects: development studies, development economics, economics and finance, financial economics and regulation, political economy, post-keynesian economics


In the chapter, ‘Private sector finance in the era of deregulation and economic openness: Mexico 2000–14,’ the authors analyse the trends in the financing of the non-financial private sector in Mexico following deregulation and economic openness. They argue that these processes shaped monetary and fiscal policies that maintain interest rates high, making financing more expensive and reducing access to it for companies operating in the domestic market. The authors find that despite reducing interest rate differentials with the US economy, these nevertheless function as a factor that limits access to financing, particularly for small and medium enterprises in the services and commercial sectors.

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