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Mexicos Financial Crisis

Miguel Angel Picazo

ISBN 10: 3838361806 / ISBN 13: 9783838361802
Published by LAP LAMBERT Academic Publishing
New Condition: New Soft cover
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Paperback. 72 pages. Dimensions: 8.7in. x 5.9in. x 0.2in.The reasons of Mexicos financial crisis can be assessed by considering economic, financial and political reasons during the period 1988-1994. The political economy of Carlos Salinas administration (1988-1994) was based on a policy of openness and stability for foreign investors. From 1994 Mexico had started to have a close contact with foreign markets. The Central Bank of Mexico had four elements to defend the Mexican exchange rate. The first was the scheme of bands that was kept until December 1994 to engender certainty in the financial markets. The second element was to increase interest rates. The third element was to use Mexicos international currency reserves. The fourth element was to issue tesobonos. The flaws in Mexicos political economy were associated with the issuance of tesobonos, the collapse of a semi-fixed exchange rate, current account deficit, domestic political shocks, excessive lending from commercial banks to the private sector and the lack of a consistent exchange rate adjustment programme from the Central Bank. This item ships from multiple locations. Your book may arrive from Roseburg,OR, La Vergne,TN. Bookseller Inventory # 9783838361802

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Bibliographic Details

Title: Mexicos Financial Crisis

Publisher: LAP LAMBERT Academic Publishing

Binding: Paperback

Book Condition:New

Book Type: Paperback

About this title

Synopsis:

The reasons of Mexico´s financial crisis can be assessed by considering economic, financial and political reasons during the period 1988-1994. The political economy of Carlos Salinas? administration (1988-1994) was based on a policy of openness and stability for foreign investors. From 1994 Mexico had started to have a close contact with foreign markets. The Central Bank of Mexico had four elements to defend the Mexican exchange rate. The first was the scheme of bands that was kept until December 1994 to engender certainty in the financial markets. The second element was to increase interest rates. The third element was to use Mexico?s international currency reserves. The fourth element was to issue tesobonos. The flaws in Mexico?s political economy were associated with the issuance of tesobonos, the collapse of a semi-fixed exchange rate, current account deficit, domestic political shocks, excessive lending from commercial banks to the private sector and the lack of a consistent exchange rate adjustment programme from the Central Bank.

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