Abstract

SUAREZ DAVILA, Francisco. The mexican financial system for development: setbacks and challenges. Economía UNAM [online]. 2019, vol.16, n.46, pp.79-88.  Epub June 17, 2020. ISSN 1665-952X.  https://doi.org/10.22201/fe.24488143e.2019.46.433.

A Mexican Development Financial System does not really exist, as such, in 2018. Credit volumes are below those of countries at similar levels of development. The Banco de Mexico, axis of the system, has as its only objective price stability. Private banking, with a clear majority of foreign institutions, privileges the profits of its foreign owners, based on high margin consumption loans. Development banks are a pale shadow of their past, the pension system is very fragile/Mexico’s Central Bank should recover its dual objective: stability, and growth. Government policies should induce banks to contribute more to production and development. The development banks should be real “sectorial policy banks”, and the pension system should contribute more to long-term investment. An integral financial system reform should contribute to the new government’s desired “Fourth Transformation”: a developmental process truly sustained by a policy base.

Keywords : Monetary Policy; Central Banking, and the Supply of Money and Credit; Government and the Monetary System; General Financial Markets; E5; E42; G1.

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