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Publications (11)
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– Evidence from Mexican municipalities
Does clientelism perpetuate the weak state capacity that characterizes many young democracies? Prior work explains that clientelist parties skew public spending to private goods and under-supply public goods. Building on these insights, this article argues that clientelism creates a bureaucratic...
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There are sound theoretical reasons to expect clientelism to suppress economic growth: politicians who garner support by offering employment to voters and grassroots party members can do so more effectively when the voters’ participation constraint is met with low wages. Hence, clientelism can...
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– Labour markets and fiscal redistribution 1989–2014
Income inequality in Mexico increased between 1989 and 1994; between 1994 and 2006, inequality declined; and, between 2006 and 2014, inequality was again on the rise. We apply decomposition techniques to analyse the proximate determinants of labour income inequality and fiscal incidence analysis to...
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Static and dynamic gains from trade are the reasons why countries embark on the path of free trade, expecting this to promote industrialization and development. There is nothing, however, in the conventional theory of international trade that guarantees that these gains will materialize and even if...
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– The Mexican Agenda
Public policy aimed at building capacity among the extremely poor (support for food and nutrition; health; education and, more recently, financial services), combined with a stable macroeconomic environment, has proved to be successful for poverty alleviation in Mexico. Even though overall poverty...
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This paper analyzes the short-term effects of foreign capital flows on aggregate demand in Mexico: their magnitude, transmission channels, and the possible influence of the country’s choice of exchange rate regime. The study is motivated by the introduction of a floating system in December 1994, in...
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– The Experience of Latin America since the Tequila Crisis
The paper deals with changes in the regulation and supervision of the Latin American financial sector in the aftermath of the ‘Tequila Crisis’ of 1994–95. While it finds that both have improved, regulation and supervision cannot resolve all problems; good macroeconomic policy and performance are...
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– Latin American Exchange Rate Policies During the Asian Crisis
During the Asian crisis, intermediate exchange rate regimes vanished. It has been argued that those regimes were no longer useful and only the extremes remained valid. The paper analyses three foreign exchange regimes: Argentina (pegged), Chile (band) and Mexico (float). The Argentinean currency...
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– Mexico
By the time Mexico declared a suspension of debt service payments in August 1982, it had already begun a process of external adjustment that was to prove in the short run outstandingly successful compared with that of other countries, but was based on a total collapse of domestic investment and...
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