Reflections on the crises in the 1990s: Mexico and Southeast Asia
PDF (Spanish)
Sin título (Spanish)
Sin título (Spanish)

Keywords

Globalization
Crisis
Emerging Markets
Mexico
South East Asia

How to Cite

Reflections on the crises in the 1990s: Mexico and Southeast Asia. (2015). Revista De El Colegio De San Luis, 5(9), 32-63. https://doi.org/10.21696/rcsl592015403

Abstract

This paper reflects on the globalization processes and the flawed and incomplete integration of emerging markets. Its focus is not only on the key features of the financial crises of the 90’s in Mexico and South East Asia, but also on the global responses they triggered, such as the bailout s for the Mexican economy and the most severely affected South East Asian markets. Both cases provide valuable lessons not to be ignored in contemporary economic history.
PDF (Spanish)
Sin título (Spanish)
Sin título (Spanish)

References

ADAMS, J. (1997). Mexican Banking and Investment in Transition. Connecticut: Quorum Books.

CABELLO, A. (1997). “Liberalization and Deregulation of the Mexican Stock Market”, en Ghosh, Dilip K, y Edgar Ortiz, eds., The Global Structure of Financial Markets.An Overview. New York: Routledge.

CORREA, E. (1998). Crisis y Desregulación Financiera. México: UNAM, IIEc, Siglo XXI editores.

CORSETTI, G., Pesenti, P. y Roubini, N. (1998). “What Caused the Asian Currency and Financial Crisis”, May 12th 1999. http://www.stern.nyu.edu/~nroubini/asia/AsiaHomepage.html

CUADRA, H. (2006). “Mercados Emergentes y Crisis Monetarias y Financieras: Una Revisión Crítica”, en Con-Ciencia Política, vol. 3, no. 2.

CUADRA, H. (2005). “Globalización, Regionalismo y Hegemonía en el Nuevo Milenio”, en Con-Ciencia Política, vol. 2, no. 4.

CUADRA, H. (2000). Globalización y Mercados Emergentes en los Noventa: Crisis Financieras en México y el Sudeste Asiático. Tesis, Colima: Universidad de Colima.

GIRÓN, A. (1998). “Globalización Financiera y Mercados Contestatarios”, en Girón, Alicia y Eugenia Correa, coord. Crisis Financiera: Mercados sin Fronteras. México: UNAM, IIEc, Ed. El Caballito.

GIRÓN, A. y Correa, E. (coord.). (1998). Crisis Financiera: Mercados sin Fronteras. México: UNAM, IIEc, Ed. El Caballito.

GIRÓN, A., Ortíz, E. y Correa, E. (coord.). (1995). Integración Financiera y TLC: Retos y Perspectivas. México: UNAM, IIEc, Siglo XXI editores.

GOLDSTEIN, M. (1998). The Asian Financial Crisis: Causes, Cures and Systemic Implications. Washington D.C.: Institute for International Economics.

HUERTA, A. (1998a). El Debate del Fobaproa. Orígenes y Consecuencias del “Rescate Bancario”. México: Ed. Diana.

HUERTA, A. (1998b). La Globalización, Causa de la Crisis Asiática y Mexicana. México: Ed. Diana.

IMF. (1998a). World Economic Outlook: Financial Crises: Causes and Indicators, May 1998, http://www.imf.org/external/pubs/ft/weo/weo0598/pdf/0598ch4.pdf

IMF. (1998b). World Economic Outlook: A Survey by the Staff of the International Monetary Fund, October 1998, Washington D.C.: IMF.

IMF. (1998c). Annual Report 1998: Annual Report of the Executive Board, Washington D.C.: IMF.

IMF. (1997). World Economic Outlook: Interim Assessment: A Survey by the Staff of the International Monetary Fund, December 1997, Washington D.C.: IMF.

IMF. (1995). World Economic Outlook: A Survey by the Staff of the International Monetary Fund, May 1995, Washington D.C.: IMF.

KRAUSE, L. (1998). “The Economics and Politics of the Asian Financial Crisis of 1997-1998”, en Council on Foreign Relations, April 14th, 1999, http://www.foreignrelations.org/public/pubs/crisis.html

LUSTIG, N. (1998). Mexico. The Remaking of an Economy, Washington D.C.: Brookings Institution Press.

LUSTIG, N. (1997). “Los Estados Unidos al Rescate: la Asistencia Financiera a México en 1982 y 1995”, en Revista de la CEPAL. Vol. 61.

LUSTIG, N. (1996). “Mexico. The Slippery Road to Stability”, en Brookings Review, vol. 14.no. 2.

LUSTIG, N. (1995). The Mexican Peso Crisis: the Foreseeable and the Surprise, Washington D.C.: The Brookings Institution.

MORICI, P. (1998). “Managing the Global Economy´s Managers”, en Current History, November.

OECD. (1998). OECD Economic Outlook, vol. 63. Paris: Organization for Economic Cooperation and Development.

OECD. (1997). Estudios Económicos de la OECD. México 1996-1997. París: Organization for Economic Cooperation and Development.

OECD. (1995). Estudios Económicos de la OECD. México 1994-1995. París: Organization for Economic Cooperation and Development.

ORTÍZ, E. y Lewis, A. (1997). “Contestable Markets and the Mexican Banking Sector in the Context of NAFTA”, en Ghosh, Dilip K., y Edgar Ortiz, eds., The Global Structure of Financial Markets. An Overview. New York: Routledge.

ORTÍZ, G. (1998). “What Lessons Does the Mexican Crisis Hold for Recovery in Asia?”, en Finance and Development, vol. 35,no. 2.

RADELET, S. y Sachs, J. (1998a). “The East Asian Financial Crisis: Diagnosis, Remedies, Prospects”, Brookings Papers on Economic Activity, no. 1.

RADELET, S. y Sachs, J. (1998b). “The Onset of the East Asian Financial Crisis”, Massachusets: Harvard Institute for International Development.

RADELET, S. y Sachs, J. (1997). “Asia’s Reemergence”, en Foreign Affairs, vol. 76, no. 6.

STRANGE, S. (1997). “The Erosion of the State”, Current History, vol. 96.no. 613.

STRANGE, S. (1996). The Retreat of the State. The Diffusion of Power in the World Economy. Cambridge: Cambridge University Press.

STRANGE, S. (1988). States and Markets. London: Pinter Publishers.

WB. (1999). Global Development Finance 1999, http://www.worldbank.org/prospects/gdf99/.

WB. (1998a). East Asia: The Road to Recovery. Washington D.C.: The World Bank.

WB. (1998b). Global Economic Prospects 1998-1999, December 20th 1998, http://www.worldbank.org/prospects/gep98-99/full.htm.

WB. (1998c). World Development Report 1997-1998. Washington D.C.: The World Bank.

WB. (1997). World Bank Policy Research Reports. Private Capital Flows to Developing Countries: The Road to Financial Integration. Washington D.C.: Oxford University Press, The World Bank.

WB. (1993). World Bank Policy Research Reports. The East Asian Miracle. Economic Growth and Public Policy. New York: Oxford University Press.

The authors, by accepting the publishing of their text, automatically assign to El Colegio de San Luis, A. C., the rights of the first edition, and authorize it for its printed and electronic dissemination in the Revista de El Colegio de San Luis. They also give their permission for their text to be included in the national and institutional repository.

Any form of subsequent publication shall make reference to the first edition in the Revista de El Colegio de San Luis.