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OECD Economic Surveys: Mexico 2009
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- Table of contents
- Executive summary
- Assessment and recommendations
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Chapter 1.
Overcoming the financial crisis and the macroeconomic downturn
- The macroeconomic outlook is worsening rapidly
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A mild financial crisis but a severe downturn of output
- Figure 1.1. Contribution to growth
- Figure 1.2. Mexico’s net international investment position
- Table 1.1. Mexico: Selected financial soundness indicators
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Impact of the financial crisis
- Figure 1.3. Public sector interest rates
- Figure 1.4. Changes in the stock market index and the exchange rate after the intensification of the crisis
- Figure 1.5. Changes in emerging market spreads and fundamentals
- Figure 1.6. Risk premiums
- Figure 1.7. Private sector interest rates
- Figure 1.8. Business and consumer confidence
- + The near term outlook remains dim
- + Adverse labour market impact
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The macroeconomic policy mix is getting more coherent
- + Monetary policy
- Macro-prudential measures
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Fiscal policy
- + Box 1.5. Defining the fiscal balance and fiscal stance in Mexico
- Figure 1.20. Mexico: Fiscal stance 2003-2010
- Table 1.7. Mexico: Fiscal indicators (% of GDP)
- Figure 1.21. Spending in energy by income deciles, 2006
- + Box 1.6. The effectiveness of discretionary fiscal policy in Mexico
- Box 1.7. Key macroeconomic policy recommendations
- Notes
- Bibliography
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Chapter 2. Managing the oil economy – Can Mexico do it better?
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Mexico’s challenges with oil revenues
- + Reforming the fiscal rules
- + Preparing for a world with less oil resources
- An expedite and adequate implementation of the reform of Pemex is needed to improve the efficiency of the oil economy and maximize oil income. Additional reform should be considered if necessary
- + Concluding remarks
- Notes
- Bibliography
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Mexico’s challenges with oil revenues
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Chapter 3.
Achieving higher performance: Enhancing spending efficiency in health and education
- + Introduction
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Health spending
- + The structure of the Mexican health system
- + Efficiency frontier analysis
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Sources of inefficiencies
- Figure 3.6. Health insurance coverage by income decile
- Figure 3.7. Social security coverage by state
- Figure 3.8. Health consumption by state
- Figure 3.9. Health consumption by state and network
- Box 3.3. Health reform in Turkey
- Figure 3.10. Administrative costs
- Figure 3.11. Ratio of nurses to physicians
- + Recent reforms
- What can be done to improve efficiency in the Mexican health system?
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Efficiency of spending on primary and secondary education
- What can be done to improve the efficiency of the education system?
- + Concluding remarks
- Notes
- Bibliography
- + Annex 3.A1. Details on data envelopment analysis (DEA)
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Chapter 4.
Pedal to the metal: Structural reforms to boost long-term growth and spur recovery from the crisis
- Figure 4.1. The sources of real GDP per capita differences, 2007
- + Mexico’s growth performance compared – some salient facts
- + Sources of differences in living standards and growth
- + Sectoral labour productivity and shift-share analysis
- + Mexico’s convergence with high-income countries has been slow
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What do models tell about factors that hold back Mexico’s growth rate?
- Figure 4.8. Annual average GDP per capita growth performance
- Figure 4.9. Relative contribution of macroeconomic stabilisation policies to GDP per capita growth
- Figure 4.10. Relative contribution of structural policies to GDP per capita growth
- Figure 4.11. Product market regulation
- Figure 4.12. The effect of regulation on the diffusion of a positive supply shock
- Figure 4.13. Simulated convergence of labour productivity towards the United States
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Where to from here? Policy priorities for lifting growth further
- + Box 4.2. Growth and Inequality – Lessons for Mexico from the current literature
- Macroeconomic stability
- Openness and trade and investment integration
- + Financial market development
- + The rule of law and enforcing credit contracts
- Education and human capital
- + Regulation and competition
- + Infrastructure
- + Concluding remarks
- Notes
- Bibliography
- Annex 4.A1. Progress in structural reform
- Annex 4.A2. Data and methodology
- Annex 4.A3. More details on the models used
Despite improved macroeconomic fundamentals, this 2009 edition of OECD's periodic survey of the Mexican economy finds that Mexico is being hard hit by the financial crisis and world economic downturn. In addition to a chapter examining how to overcome the crisis, this edition also includes chapters on managing the oil economy, achieving higher performance in health and education, and structural reforms to boost long term growth.
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Book Details
Editors
Categories
Business & Economics > International > Economics
Publishers
Publication year : 2009
License: All rights reserved ©
Times read: 2
