In development studies it is widely recognized that state intervention has been more profound in Mexico than elsewhere in Latin America. Since the 1930s, successive governments have actively adopted import substitution as a means of spurring economic growth, often with spectacular results. The collapse of the petro-boom in 1982, however, brought an unprecedented economic crisis. In this book, the author examines the role of the state in Mexico's capitalist industries and the impact state policies may have had in precipitating the decline in the economy, the debt crisis, and the nationalization of the banking system. Through an examination of theories of state development policies, a detailed analysis of Mexico's planning system, and a set of case studies dealing with Mexico's parastate industries, he makes a major contribution to the understanding of state sector planning and industrialization in developing countries.
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