This book addresses two questions that are crucial to understanding Mexico's current economic and political challenges. Why did the opening up of the economy to foreign trade and investment not result in sustained economic growth? Why has electoral democracy not produced rule of law? The answer to those questions lies in the ways in which Mexico's long history with authoritarian government shaped its judicial, taxation, and property rights institutions. These institutions, the authors argue, cannot be reformed with the stroke of a pen. Moreover, they represent powerful constraints on the ability of the Mexican government to fund welfare-enhancing reforms, on the ability of firms and households to write contracts, and on the ability of citizens to enforce their basic rights.
• Draws on the latest research in social science to provide a fast-paced, non-technical, but novel, study of Mexico in the past quarter century • Details economic, political, and social change since 1980 • The authors highlight key themes in Mexico's development relating to the transformation of financial underdevelopment, health, education and welfare
1. The second Mexican revolution: economic, political, and social change since 1980; 2. Mexico before 1982: the political economy of authoritarian rule; 3. The causes and consequences of free trade; 4. The Mexican banking system: the politics and economics of financial underdevelopment; 5. The transformation of Mexican politics; 6. Health, education, and welfare in Mexico since 1980; 7. Democracy and development in Mexico: future challenges and the legacy of authoritarian rule.