Public Spending, Investment, and Growth in Mexico, 1980–2014
DOI:
https://doi.org/10.29201/peipn.v10i19.344Keywords:
Public Finance, public expenditure, investmentAbstract
México has managed its public finance based on the fiscal discipline approach since the 1980s. This approach's main objective is the balance of public finance. Consequently, fiscal policy has been restrictive and its effect has decreased aggregate demand, in general, and public investment in particular. As a result, the economy has shown slow growth and a tendency to stagnation in the long term. The purpose of this paper is to analyze the impact of restrictive fiscal policy on economic growth during 1980-2008. The Mexican economy has experienced recurring crises, recessionary adjustments of macroeconomic stabilization with fiscal austerity, economic liberalization and healthy public finance (control of the primary fiscal deficit). In order to compare the macroeconomic performance of this policy of sound public finance with the results of the period known as stabilizing development (1959-1970), we include data from the latter period.
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