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Government regulations, external financing and economic performance: The case of Mexico

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  • Corsepius, Uwe

Abstract

During the 1970s and early 1980s Mexico, like many other Latin American countries, relied to a large extent on foreign capital in financing public and private expenditures. While the annual inflow of debt was always larger than that of foreign direct investment (fdi), the relative importance of both types of capital varied substantially over the 1970-81 period. The ratio of debt over fdi inflows was as low as 2.6 in the 1970-74 period. It increased to 6.7 during the years 1975-77 and averaged 5.0 in 1978- 81 . In the same three sub-periods, the real growth rate of gross domestic product dropped from an average of 6.8 per cent to 4.4 per cent before it increased again to 8.4 per cent. Hence, relatively good economic performance coincided with relatively large fdi inflows.

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  • Corsepius, Uwe, 1988. "Government regulations, external financing and economic performance: The case of Mexico," Kiel Working Papers 345, Kiel Institute for the World Economy (IfW Kiel).
    • Handle: RePEc:zbw:ifwkwp:345
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    References listed on IDEAS

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    1. Huss, Hans-Joachim, 1988. "Debt-equity swaps: Panacea or the emperor's new clothes?," Kiel Working Papers 328, Kiel Institute for the World Economy (IfW Kiel).
    2. Agarwal, Jamuna Prasad, 1986. "Home country incentives and FDI in ASEAN countries," Kiel Working Papers 258, Kiel Institute for the World Economy (IfW Kiel).
    3. Spinanger, Dean, 1987. "Does trade performance say anything about efficient industrialization policies? Some evidence from Pacific Rim Countries," Kiel Working Papers 302, Kiel Institute for the World Economy (IfW Kiel).
    4. Lächler, Ulrich, 1985. "Debt versus equity in development finance," Kiel Working Papers 248, Kiel Institute for the World Economy (IfW Kiel).
    5. Ulrich Lächler & Peter Nunnenkamp, 1987. "The effects of debt versus equity inflows on savings and growth in developing economies," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 123(4), pages 631-650, December.
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    1. Nunnenkamp, Peter, 2000. "Ausländische Direktinvestitionen und gesamtwirtschaftliches Wachstum in Entwicklungs- und Schwellenländern," Open Access Publications from Kiel Institute for the World Economy 2468, Kiel Institute for the World Economy (IfW Kiel).
    2. Nunnenkamp, Peter, 1989. "The structure of external financing in Malaysia: the policy framework for foreign direct investment and debt inflows," Kiel Working Papers 368, Kiel Institute for the World Economy (IfW Kiel).
    3. Corsepius, Uwe & Nunnenkamp, Peter & Schweickert, Rainer, 1989. "Debt versus equity finance in developing countries: An empirical analysis of the agent-principal model of internat. capital transfers," Open Access Publications from Kiel Institute for the World Economy 328, Kiel Institute for the World Economy (IfW Kiel).

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