Liberalization, growth, and financial crises: lessons from Mexico and the developing world.

by dint of NOW THERE is widespread agreement that trade liberalization enhances extension No such agreement exists, however, upon the growth-enhancing effects of financial liberalization, in large part because it is associated with risky capital roll ons lending booms, and crises. The Mexican experience is repeatedly considered a prime example of what can move wrong with liberalization. Mexico liberalized its trade and finance and penetrateed the North American Free Trade Agreement (NAFTA), notwithstanding despite these reforms, Mexico's development performance has been unremarkable in comparison with that of its mates A ...