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ISBN: 0822957310Издательство: University of Pittsburgh Press
Mexico's economic meltdown of 19941995 has been described as the first financial crisis of the twenty-first-century because of the speed with which the repercussions--the tequila effect--spanned the globe. During the first five years of his six-year term, Carlos Salinas was one of the most admired of Mexican presidents, both at home and internationally. Today he is Mexico's "favorite villain," as he has called himself, because the economy collapsed three weeks after he left office on December 1, 1994. The Mexican peso crisis was then a unique event that drastically shifted thinking about the workings of the international financial system. The lessons learned have since been amplified by the abrupt East Asian economic collapse in 1997. Financial Decision-Making in Mexico examines why able economic managers in Mexico, based on the contemporaneous information in their possession, made the decisions they did, with such disastrous consequences. Weintraub's conclusion is that...