Abstract

MARTIN, Sergio. The Debate of the Economic Policy of Ávila Camacho. A Contemporaneous Perspective. Estud. hist. mod. contemp. Mex [online]. 2021, n.62, pp.215-244.  Epub May 16, 2022. ISSN 0185-2620.  https://doi.org/10.22201/iih.24485004e.2021.62.77227.

The economic policy implemented by the government of Manuel Ávila Camacho (1940-1946) has been little studied despite its importance. The objective of this paper is to offer an interpretation based on improved reasoning and empirical evidence from a primary source not used in other studies. Our hypothesis is that Avila Camacho’s economic policy was expansive within brake and start cycles which produced inflation and macroeconomic imbalances that eventually caused the exchangerate crisis of 1948. This argument is contrasted with others that interpret the mentioned policy as moderate and responsible, while calling “myth” the charges against it.

Keywords : economic policy; fiscal policy; monetary policy; inflation; macroeconomic disequilibria.