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Development and Growth in the Mexican EconomyAn Historical Perspective$
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Juan Carlos Moreno-Brid and Jaime Ros

Print publication date: 2009

Print ISBN-13: 9780195371161

Published to Oxford Scholarship Online: May 2009

DOI: 10.1093/acprof:oso/9780195371161.001.1

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The Loss of Macroeconomic Stability, the Oil Boom, and the Debt Crisis

The Loss of Macroeconomic Stability, the Oil Boom, and the Debt Crisis

Chapter:
(p.124) 6 The Loss of Macroeconomic Stability, the Oil Boom, and the Debt Crisis
Source:
Development and Growth in the Mexican Economy
Author(s):

Juan Carlos Moreno-Brid

Jaime Ros (Contributor Webpage)

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780195371161.003.0006

Chapter 6 examines the period from 1970 to 1983 marked by continued economic growth but also by the reemergence of inflation and balance of payments crises in 1976 and 1982. It recounts the change in development strategy from stabilizing development to shared development under the Echeverría administration (1970–1976) and the failed attempt at tax reform in 1972 that was followed by increasing macroeconomic imbalances and the 1976 balance of payments crisis. It also examines the oil boom from 1978 to 1981 and the 1982 debt crisis under the Lopez Portillo administration (1976–1982). Finally, the chapter discusses alternative interpretations of the domestic causes of the 1976 and 1982 crises.

Keywords:   debt crisis, inflation, balance of payments, oil boom, shared development, stabilizing development

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