Privatisation of Banks in Mexico and the Tequila Crisis

Shanti Chakravarty () and Jonathan Williams
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Shanti Chakravarty: Bangor University, UK

No 13012, Working Papers from Bangor Business School, Prifysgol Bangor University (Cymru / Wales)

Abstract: The Mexican programme of bank privatisation in the early 1990s was dictated not just by a desire for distancing government from the running of the economy but also by the need to raise money by selling public assets in favour of a particular fiscal stance. The conflict of objectives entailed in this liberalisation process contributed to the subsequent financial crisis entailing the re-nationalisation of banks after a short period of three years at a cost to the exchequer which was five times greater than the money raised at privatisation.

Keywords: Mexico; Privatisation; Financial Liberalisation; Banking (search for similar items in EconPapers)
JEL-codes: G21 G28 (search for similar items in EconPapers)
Pages: 31 pages
Date: 2013-11
New Economics Papers: this item is included in nep-ban, nep-cba and nep-his
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