European and Latin American Experiences
- New Directions in Post-Keynesian Economics series
Edited by Noemi Levy and Etelberto Ortiz
Chapter 13: Private sector finance in the era of deregulation and economic openness: Mexico 2000–2014
AbstractIn 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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