Mexico’s economy was one of the most severely affected by the global economic crisis. The country’s GDP shrank by 6.5 percent in 2009—the most serious contraction since the 1995 peso crisis. Even prior to the collapse, Mexico grew at relatively low rates even under highly favorable global economic conditions. This suggests that there are structural problems that must be addressed if Mexico is to bolster its development.
On June 25, the Latin America Initiative at Brookings and the Inter-American Development Bank (IDB) hosted a conference with leading Mexican and international experts to discuss Mexico’s economic future. The conference diagnosed Mexico’s development strategy and highlighted key aspects of an economic agenda to take Mexico beyond the global economic crisis.
Arturo Sarukhan, the Mexican ambassador to the United States, and Luis Alberto Moreno, President of the Inter-American Development Bank, delivered opening remarks. Alejandro Werner, deputy secretary of Finance of Mexico, Santiago Levy, IDB vice president for sector and knowledge, and Jesús Silva-Herzog Márquez, of the Instituto Tecnológico Autónomo de México, served as panelists. Brookings Senior Fellow Mauricio Cárdenas, director of the Latin America Initiative, was joined by Brookings experts Kevin Casas-Zamora, Vanda Felbab-Brown and Carol Graham as moderators and discussants. After each panel, participants took audience questions.
Agenda
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June 25
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9:00 AM - Welcoming Remarks and Introduction
Mauricio Cárdenas Visiting Senior Research Scholar, Center on Global Energy Policy - Colombia University, Former Minister of Finance and Public Credit - Republic of Colombia, Former Brookings Expert @MauricioCard -
Featured Remarks
Arturo Sarukhan Nonresident Senior Fellow - Foreign Policy, Strobe Talbott Center for Security, Strategy, and Technology, Former Ambassador of Mexico to the United States @Arturo_Sarukhan -
9:30 AM - Panel One: Understanding Mexico’s Long-term Economic Performance
Moderator
Mauricio Cárdenas Visiting Senior Research Scholar, Center on Global Energy Policy - Colombia University, Former Minister of Finance and Public Credit - Republic of Colombia, Former Brookings Expert @MauricioCardPanelist
Alejandro Werner Director - Georgetown Americas Institute, Nonresident senior fellow - Peterson Institute @alejandrowerne7 -
10:30 AM - Panel Two: The Microeconomics of Growth – Issues in Mexico
Moderator
Kevin Casas-Zamora Former Brookings Expert, Director, Programa Estado de Derecho, Diálogo InteramericanoPanelist
William F. Maloney Lead Economist, Development Economics Research Group, The World BankManuel Molano Assistant General Director, Instituto Mexicano para la Competitividad, A.C.Aaron Tornell University of California, Los Angeles -
11:30 AM - Panel Three: The Political Economy of Low Growth in Mexico
Panelist
Vanda Felbab-Brown Director - Initiative on Nonstate Armed Actors, Co-Director - Africa Security Initiative, Senior Fellow - Foreign Policy, Strobe Talbott Center for Security, Strategy, and Technology @VFelbabBrownJesús Silva-Herzog Márquez Instituto Tecnológico Autónomo de México
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