Mexico in the Path of Development

By: Enrique de la Madrid Cordero

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Synopsis: Enrique de la Madrid Cordero analyses Mexico's economic growth over the last three decades and the historic opportunity for eliminating its barriers to growth and aspiring to becoming a developed country.Foreword by Luis Videgaray Caso."Mexico is blessed with a wealth of strengths and comparative advantages, placing it among the countries with the highest growth potential in the twenty-first century. Furthermore, this country has achieved a series of fundamental goals over the years, clearly shown by indicators on education, health, employment, housing and infrastructure, to name only a few.However, despite its strengths and achievements, Mexico's economic growth over the last three decades has been inconsistent and unspectacular; especially considering its potential and the need to end the poverty lived by almost half of all Mexicans.Three elements have caused Mexico's low economic growth: a lack of financial penetration, a shortfall in economic competition and low productivity. These elements have also led to the country's inadequate and unequal distribution of wealth.Today, a favorable international context and a process of profound internal reforms promoted by President Enrique Peña Nieto within the "Pacto por México", Mexico is on the brink of a historic opportunity for eliminating its barriers to growth and aspiring to becoming a developed country within this generation."Enrique de la Madrid