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The economy of Mexico is a developing mixed-market economy. [21] It is the 13th largest in the world in nominal GDP terms and by purchasing power parity as of 2024. [4] Since the 1994 crisis, administrations have improved the country's macroeconomic fundamentals.
USD/MXN exchange rate Mexico inflation rate 1970-2022. The Mexican peso crisis was a currency crisis sparked by the Mexican government's sudden devaluation of the peso against the U.S. dollar in December 1994, which became one of the first international financial crises ignited by capital flight.
Constitution of 1917 that set a new framework for the Mexican political and economic systems. The Constitutionalist faction of Mexico's North was victorious in 1915–16. Northern revolutionaries were not sympathetic to demands by peasants in central Mexico seeking the return of village land a reversion to small-scale agriculture.
The Mexican miracle (Spanish: Milagro mexicano) is a term used to refer to the country's inward-looking development strategy that produced sustained economic growth. It is considered to be a golden age in Mexico's economy in which the Mexican economy grew 6.8% each year.
A textbook in 22 chapters that provides a complete introduction to economics and is used in approximately 500 universities worldwide. This economics textbook was designed as the source material for taught courses in the first year of an undergraduate degree, although it has also been used in schools, and for advanced courses in public policy.
When NAFTA was initially passed, Mexican emigration to the United States surged, though it is unclear whether the Act itself was the direct causal factor in this surge. [7] However, part of this surge can be attributed to the continued economic stagnation in Mexico and the reliance of United States agriculture on low-wage migrant workers. [12]
Since 1954 and until 1971 the Mexican economy performed very consistently, averanging 6% GDP growth each year and 3% inflation rate, allowing the country to sustain an exchange rate of 12.50 pesos per US dollar for 22 years (1954-1976). This period, called the "Mexican Economic Miracle" and "Stabilizing Development", consisted in an ISI model.
The Mexican Peso Crisis was extremely severe. At the same time, major organizations such as the International Monetary Fund, the World Bank, and other major banks, such as J.P. Morgan, praised the Mexican economic reforms of the time, claiming that the country's reforms were effective in bettering the economy. [13]