Mexico; financial fragility or structural crisis?
The systemic weaknesses of the privatized banking sector were a determining factor in the 1994-1995 crises. Rapacious elite drove the acquisition of loans to finance conspicuous consumption and speculative activities. The privileged knowledge of certain groups regarding this weakness influenced capi...
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| Tipo de recurso: | artículo |
| Estado: | Versión publicada |
| Fecha de publicación: | 2011 |
| País: | México |
| Institución: | UNIVERSIDAD NACIONAL AUTÓNOMA DE MÉXICO |
| Repositorio: | Problemas del Desarrollo. Revista Latinoamericana de Economía |
| Idioma: | español |
| OAI Identifier: | oai:ojs.pkp.sfu.ca:article/28946 |
| Acceso en línea: | https://www.probdes.iiec.unam.mx/index.php/pde/article/view/28946 |
| Access Level: | acceso abierto |
| Palabra clave: | Inestabilidad crediticia fragilidad financiara devaluación crisis bancaria Fobaproa reprivatización |
| Sumario: | The systemic weaknesses of the privatized banking sector were a determining factor in the 1994-1995 crises. Rapacious elite drove the acquisition of loans to finance conspicuous consumption and speculative activities. The privileged knowledge of certain groups regarding this weakness influenced capital flight in 1994, forcing a devaluation of the peso. The government, maintaining its free-market policy, implemented a massive bank rescue plant which cost more than the income yielded by the privatization of the bank in 1991-1992. By 1996, the government had re-nationalized half the privatized banks |
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