Abstract

HUERTA GONZALEZ, Arturo. Economic Liberalization and Macroeconomic Stability: A Failed Development Model. Economía UNAM [online]. 2009, vol.6, n.18, pp.89-105. ISSN 1665-952X.

The aim of this work is to explain the foundations of the economic growth experienced during recent years and compare them with those of the 1990s. This comparison reveals the continuities and differences that exist between both periods, showing at the same time the limitations that determine the potential exhaustion of the current phase of growth. Firstly, this article analyses the working of the five 'over-reaction mechanisms' that boosted growth between 1992 and 2000. Then it explains the characteristics of economic policy during the recession. The third section examines the bases explaining the recent growth, comparing them with those of the 1990s. The final section withdraws some conclusions from this analysis about the structural problems and temporary obstacles that hamper the extension of the recent growth phase.