Government-Business Relations and Regional Development in Post-Reform Mexico by Theodore Kahn

Author:Theodore Kahn
Language: eng
Format: epub, pdf
ISBN: 9783319923512
Publisher: Springer International Publishing

9According to Manjarrez (1991), several business leaders took advantage of this position for personal enrichment.

10In a statement released in the days after the bank nationalization, the national CCE called the move “a definitive blow to business activity and a clear signal of the entrance of the country into socialism” and warned Mexico was on the path to “totalitarianism” See Nexos 1 November 1982, “El reto de la izquierda” https://​www.​nexos.​com.​mx/​?​p=​4128.

11In the final months of the López Portillo administration, Mexico defaulted on over $80 billion of foreign debt, leading to a collapse of economic activity, spiraling inflation, and soaring interest rates (Bazdresch and Levy 1991).

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