{"product_id":"mexico-s-financial-crisis-von-miguel-angel-picazo","title":"Mexico´s Financial  Crisis","description":"\u003cp\u003eThe reasons of Mexicös financial crisis can be  assessed by considering economic, financial  and  political reasons during the  period 1988-1994.   The political economy of Carlos Salinas¿  administration (1988-1994) was based on a policy of  openness and stability for foreign investors. From  1994 Mexico had started to have a close contact with  foreign markets. The Central Bank of Mexico had four  elements to defend the Mexican exchange rate. The  first was the scheme of bands that was kept until  December 1994 to engender certainty in the financial  markets. The second element was to increase interest  rates. The third element was to use Mexicös  international currency reserves. The fourth element  was to issue tesobonos.  The flaws in Mexicös political economy were  associated with the issuance of tesobonos, the  collapse of a semi-fixed exchange rate, current  account deficit, domestic political shocks,  excessive lending from commercial banks to the  private sector and the lack of a consistent exchange  rate adjustment programme from the Central Bank.\u003c\/p\u003e\u003cdiv class=\"aw-variant-hidden-subtitle-div\" id=\"aw-variant-subtitle-9783838361802\"\u003e\u003ch3\u003eThe fundamental causes of a financial crisis during the period 1988-1994\u003c\/h3\u003e\u003c\/div\u003e","brand":"Autorenwelt Shop","offers":[{"title":"Softcover - 9783838361802","offer_id":39469144309853,"sku":"9783838361802","price":49.0,"currency_code":"EUR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0940\/0622\/files\/d408f658-89c0-4f68-bd32-0ba8c1842a28.jpg?v=1759034637","url":"https:\/\/shop.autorenwelt.de\/products\/mexico-s-financial-crisis-von-miguel-angel-picazo","provider":"Autorenwelt Shop","version":"1.0","type":"link"}