Mexican miracle
The Mexican miracle ( milagro mexicano Spanish ) refers to the economic development of Mexico from the 1940s to the 1970s. In this phase, Mexico had a very high average economic growth of 6% per year, it came to the development of a major industrial sector. Due to an increase in per capita income by 3% per year was achieved in this period, a significant increase in wealth, which was also reflected in an increase in average life expectancy of the population from 41.5 years in 1940 to 61.9 years in 1970. The phase was characterized by political and social stability and an economic policy of import-substituting industrialization in the context of structuralist economic policy.
History
Access to primary education in Mexico was expanded such Between the 1920s and 1940s that three times as many children complete primary school visited as before this time. Based on the recommendations of the Economic Commission of the United Nations for Latin America and the Caribbean ( ECLAC) a structuralist economic policy under the title stabilizing development ( desarrollo estabilizador ) operated. The economic policies included, among other things, that the Mexican government advanced the development of important economic sectors such as the petrochemical, steel production and engineering there by public investment, where not enough private investment were available. This created a both a planned economy, as well as market-based elements comprehensive economic order. As a result of import-substituting industrialization to Mexico developed from an agrarian state towards an emerging country in which industrial production covered the own demand for steel, consumer goods and major petrochemical products. In the fiscal control of inflation and a stable exchange rate was aimed to keep the flight of capital low. The policy of import substitution industrialization caused a strong urbanization process. Since the industrial sector grew by 240% during this period, many people moved from rural areas to the cities to work. The welfare increase is also evident from the evolution of life expectancy. 1940, the average life expectancy still at 41.5 years, in 1970 it was already 61.9 years.
Since the 1980s, however, the model became economically and politically in the crisis. The high national debt, " the excessive role of the state in the economy and the political clumsiness " of the de facto one-party rule of the PRI led to intensified pressure on the ruling elites to allow an economic and social opening. The agreement of a structural adjustment program with the IMF on November 10, 1982 marked a turning point for the economic policies toward the Washington Consensus, which is also reflected by the accession to international agreements such as the GATT and NAFTA. Since the end of import-substituting economic policy, Mexico has developed into successful exporting nation: In 1980, the export quota only 12.8 percent of GDP, almost entirely oil. 2005 made exports from 29.9 percent of GDP, of which the majority was industrially produced finished products. The Mexican industry has thus become part of the integrated North American internal market. Since the 1980s, however, Mexico experienced in other sectors, only a modest economic development and growing social tensions. Between 1991 and 2004 the working-age population grew by 1.1. However, millions in the number of social insurance jobs grew by only 336 875. Despite the relatively low level of economic growth since the 1980s, trade liberalization is not necessarily viewed as failure of economic scientists like Nobel laureate Paul Krugman. Most economists argue that relatively low growth stems from other factors, such as the low educational level of the population.