FINANCIAL LIBERALISATION, CREDIT RATIONING AND SLOW GROWTH IN MEXICO: TESTING THE MCKINNON-SHAW HYPOTHESIS

Ignacio Perrotini Hernández

Resumo


The Mexican experience with financial liberalisation provides an interesting case of study for countries facing financial instability problems. The aim of this paper is twofold: first, to provide an overview of the macroeconomic effects of the lending boom associated with Mexico's transition from a financially repressed regime to financial liberalisation. And second, to empirically assess whether the McKinnon-Shaw hypothesis holds in this case. It is argued that financial liberalisation tends to generate financial fragility, credit rationing and long-run slow growth.

Palavras-chave


Financial repression. Financial liberalisation. Growth. Credit. Crises.

Texto completo:

PDF


DOI: https://doi.org/10.22456/2176-5456.10721



 
.........................................................................................................................................................................................................................

Indexadores


 PROPESQ  PROPESQ PROPESQ   PROPESQ      PERIÓDICOS UFRGS


 
.........................................................................................................................................................................................................................

Universidade Federal do Rio Grande do Sul
Faculdade de Ciências Econômicas
Revista Análise Econômica
ISSN 0102-9924 / e-ISSN 2176-5456