Features of socio-economic development of Mexico in 40-70s of the XX century
Tetiana Perga, PhD (History), senior researcher, State institution “Institute of World History of NAS of Ukraine”, Kyiv
Abstract
The economic and social policy of Mexico 1940-1970’s has been investigated. The preconditions for the economic growth of Mexico shaped in the early 1930’s – 1940’s has been analyzed. Thus, the article touches upon the agrarian and educational reforms, the nationalization of the most important industries and the formation of the public sector, expansion of export during the World War II. The reasons of adopting the policy of import substitution industrialization and its main directions have been revealed. The promotion of national private investments, protection from foreign competitors, expansion of the public sector in industry by nationalizing certain enterprises and industries, construction of state-owned enterprises, as well as the increase of state financing and lending to industry has been explored. The positive results of Mexico’s development in the 1940s-1970s have been assessed as follows: high rates of economic growth, stability of national currency, low inflation, growing of the middle class, implementation of many infrastructure and social projects. It is concluded that despite the significant short-term successes, the strategy of development of Mexican government had a number of “side effects” that led to a slowdown in economic growth over the coming years, increasing of social polarization and excessive dependence on external financing. The problems arose at that time resulted in the deep financial and economic crisis of Mexico in the early 1980’s.
Keywords
Mexico, import substitution industrialization, mexicanization of economy, agrarian reform.
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