The Scholarly Study of Mexican Politics

Abstract

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Online Appendix for Paper Entitled "Democracy Does Not Cause Growth: The Importance of Endogeneity Arguments"

“…During López Portillo's administration, "Mexico's capital stock had aged rapidly because capital investment had declined; the private savings rate was low and fell further in the 1980s. Real wages in manufacturing and per capita GDP performed badly in the 1980s and the first half of the 1990s.…Mexico's longer-standing structural economic and social problems also lingered, including high rates of poverty and inequality and deficient services in health and education" (Domínguez, 2004). "By 1982, the imbalance in Mexico's external sector had reached crisis proportions, leading to a suspension of payments on Mexico's US$88 billion foreign debt and ultimately the provision of a new US$4 billion rescue package from the international financial community.…”