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This work examines the relationship between equity and growth in Mexico. It looks at how specific inequalities in power, wealth and status have created and sustained economic institutions and policies that both tend to perpetuate these inequalities and are sources of inefficiences in the economy.
This edited volume offers a new and original approach to the study of technological change in retail finance. Documenting developments in the US alongside case studies from Mexico and Europe, Technological Innovation in Retail Finance addresses the variety of financial institutions that populated the markets for retail finance. It offers a massive research base reflecting not only breadth of contributor interests, but also a unity of purpose that comes from several workshops and comments on each other's work. Technological innovation had a major role in the shaping and developing of administrative procedures, routines, and capabilities in organizations offering retail financial services. Ind...
Why stable banking systems are so rare Why are banking systems unstable in so many countries—but not in others? The United States has had twelve systemic banking crises since 1840, while Canada has had none. The banking systems of Mexico and Brazil have not only been crisis prone but have provided miniscule amounts of credit to business enterprises and households. Analyzing the political and banking history of the United Kingdom, the United States, Canada, Mexico, and Brazil through several centuries, Fragile by Design demonstrates that chronic banking crises and scarce credit are not accidents. Calomiris and Haber combine political history and economics to examine how coalitions of politicians, bankers, and other interest groups form, why they endure, and how they generate policies that determine who gets to be a banker, who has access to credit, and who pays for bank bailouts and rescues. Fragile by Design is a revealing exploration of the ways that politics inevitably intrudes into bank regulation.
The conditions for sustainable growth and development are among the most debated topics in economics, and the consensus is that institutions matter greatly in explaining why some economies are more successful than others over time. This book explores the relationship between economic conditions, growth, and inequality.
During the nineteenth century, Yucatán moved effectively from its colonial past into modernity, transforming from a cattle-ranching and subsistence-farming economy to a booming export-oriented agricultural economy. Yucatán and its economy grew in response to increasing demand from the United States for henequen, the local cordage fiber. This henequen boom has often been seen as another regional and historical example of overdependence on foreign markets and extortionary local elites. In The Making of a Market, Juliette Levy argues instead that local social and economic dynamics are the root of the region’s development. She shows how credit markets contributed to the boom before banks (and bank crises) existed and how people borrowed before the creation of institutions designed specifically to lend. As the intermediaries in this lending process, notaries became unwitting catalysts of Yucatán’s capitalist transformation. By focusing attention on the notaries’ role in structuring the mortgage market rather than on formal institutions such as banks, this study challenges the easy compartmentalization of local and global relationships and of economic and social relationships.
When the postwar boom began to dissipate in the late 1960s, Mexico's middle classes awoke to a new, economically terrifying world. And following massacres of students at peaceful protests in 1968 and 1971, one-party control of Mexican politics dissipated as well. The ruling Institutional Revolutionary Party struggled to recover its legitimacy, but instead saw its support begin to erode. In the following decades, Mexico's middle classes ended up shaping the history of economic and political crisis, facilitating the emergence of neo-liberalism and the transition to democracy. Waking from the Dream tells the story of this profound change from state-led development to neo-liberalism, and from a one-party state to electoral democracy. It describes the fraught history of these tectonic shifts, as politicians and citizens experimented with different strategies to end a series of crises. In the first study to dig deeply into the drama of the middle classes in this period, Walker shows how the most consequential struggles over Mexico's economy and political system occurred between the middle classes and the ruling party.
This comprehensive and engaging text explores contemporary Mexico's political, economic, and social development and examines the most important policy issues facing the country today. Readers will find this widely praised book continues to be the most current and accessible work available on Mexico’s politics and policy.
A climate defined by wet and dry seasons, a mostly mountainous terrain, a biota prone to disturbances, a human geography characterized by a diversity of peoples all of whom rely on burning in one form or another: Mexico has ideal circumstances for fire, and those fires provide a unique perspective on its complex history. Narrating Mexico’s evolution of fire through five eras, historian Stephen J. Pyne describes the pre-human, pre-Hispanic, colonial, industrializing (1880–1980), and contemporary (1980–2015) fire biography of this diverse and dynamic country. Creatively deploying the Aztec New Fire Ceremony and the “five suns” that it birthed, Pyne addresses the question, “Why does...
William O. Jenkins rose from humble origins in Tennessee to build a business empire in Mexico, a country energized by industrialization and revolutionary change. In Jenkins of Mexico, Andrew Paxman presents the first biography of this larger-than-life personality.
Offshore financial centers such as Luxembourg, the Cayman Islands or the City of London provide non-residents with a legal framework that is strong on property rights and soft on taxation and regulation. Building on a historical-institutionalist comparison of Britain, Germany, Brazil, and Mexico, Offshore Finance and State Power asks how these offshore financial services affect the power of the state. Combining a concept analysis with empirical research, the book finds that economic actors go offshore to create money more than to hide it. Legal offshore banking trumps tax planning or money laundering in its impact on state power. Offshore Finance and State Power also reveals that the relatio...