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How Has NAFTA Affected the Mexican Economy? Review and Evidence

Author/Editor: Kose, M. Ayhan | Meredith, Guy | Towe, Christopher M.
Authorized for Distribution: April 1, 2004
Electronic Access: Free Full Text (PDF file size is 503KB)
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate.

Summary: This paper provides a comprehensive assessment of the impact of NAFTA on growth and business cycles in Mexico. The effect of the agreement in spurring a dramatic increase in trade and financial flows between Mexico and its NAFTA partners, and its impact on Mexican economic growth and business cycle dynamics, are documented with reference both to stylized facts and recent empirical research. The paper concludes by drawing lessons from Mexico's NAFTA experience for policymakers in developing countries. The foremost of these is that in an increasingly globalized trading system, bilateral and regional free trade arrangements should be used to accelerate, rather than postpone, needed structural reform.
 
Series: Working Paper No. 04/59
Subject(s): International trade agreements | Mexico | Economic growth | Business cycles
Author's keyword(s): NAFTA | Mexico | Growth | Trade | Regional Trade | Business Cycles
 
English  
    Published:   April 1, 2004        
    ISBN/ISSN:   1934-7073   Format:   Paper
    Stock No:   WPIEA0592004   Pages:   48
    Price:   US$15.00
       
     
Please address any questions about this title to publications@imf.org.