The Rough Guide to Mexico
by Rough Guides · 15 Jan 2022
people. 1990 Octavio Paz becomes the first Mexican to win the Nobel Prize for Literature. 1992 NAFTA comes into force; Zapatista uprising in Chiapas; Mexican peso crisis (aka the “Tequila crisis”) caused by the sudden devaluation of the currency. 1995 The Colima-Jalisco earthquake kills at least 49 people. 1998 PAN candidate Vicente Fox Quesada
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campaign spending and the establishment of a federal electoral body in 1996 – the economy started to grow again that year (after another financial collapse, the “Tequila Crisis” of 1994), and has continued to expand ever since. But the biggest change of all came on July 2, 2000, when Vicente Fox Quesada, the
The Rise and Fall of Nations: Forces of Change in the Post-Crisis World
by Ruchir Sharma · 5 Jun 2016 · 566pp · 163,322 words
since the 1970s are one rolling crisis built on the recurring fear that poor nations won’t have the money to pay their bills. The Mexican peso crisis of ’94 begat the Thai crisis of ’97 begat the Argentine crisis of 2002 and many others, trampling more than a few innocent-victim nations
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before these trends show up in the official numbers that most big foreign institutions rely on. Balance of payments data show that during Mexico’s “tequila crisis” in December 1994, when the currency peg against the dollar came unstuck, locals started to switch out of pesos and into dollars more than eighteen
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financial mine is about to blow again. Every new crisis seemed to produce a new explanation for crises in general. The postmortems after Mexico’s “tequila crisis” of the mid-1990s focused on the dangers of short-term debt, because short-term bonds had started the meltdown that time. After the Asian
Global Governance and Financial Crises
by Meghnad Desai and Yahia Said · 12 Nov 2003
the affairs at LTCM see Lowenstein, R. (2000) ‘When genius failed’, The Rise and Fall of Long Term Capital Management, Random House, New York. The Mexican peso crisis, which happened in December 1994, was regional and did not grow into a global crisis as the Asian one did. I am excluding it therefore
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crisis. It is widely believed that the IMF was far more generous in helping Mexico due to US interest in ensuring that the 1994–95 tequila crisis not be seen as an adverse consequence of Mexico’s joining the North American Free Trade Agreement (NAFTA). In contrast, East Asians saw the IMF
Breakout Nations: In Pursuit of the Next Economic Miracles
by Ruchir Sharma · 8 Apr 2012 · 411pp · 114,717 words
persists to this day, is fed by the fashionable explanation for the boom—that emerging markets succeeded because they had learned the lessons of the Mexican peso crisis, the Russian crisis, and the Asian crisis in the 1990s, all of which began when piles of foreign debt became too big to pay. But
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. In retrospect, 1998 offered investors a rare opportunity to buy into those markets. In all of the regional financial crises going back to the Mexican Tequila Crisis of 1994, the country where the crisis started saw its stock market drop 85 percent on average (for example, Thailand in 1997–1998), while all
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-Serra, Carlos Elizondo, 78 MBAs, 225 Mbeki, Thabo, 176, 206 Medellín drug cartel, 79 Medvedev, Dmitry, 95–96 Mercedes-Benz, 86, 144 Merkel, Angela, 108 Mexican peso crisis, 4, 9 Mexico, 73–82 antitrust laws in, 81–82 banking in, 81, 82 billionaires in, 45, 47, 71, 78–80 Brazil compared with, 71
Currency Wars: The Making of the Next Gobal Crisis
by James Rickards · 10 Nov 2011 · 381pp · 101,559 words
century, notwithstanding two mild recessions along the way. The currency crises that did arise were nondollar crises, such as the sterling crisis of 1992, the Mexican peso crisis of 1994 and the Asia-Russia financial crisis of 1997–1998. None of these crises threatened the dollar—in fact, the dollar was typically a
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late as 1994, Brazil maintained a peg of its currency, the real, to the U.S. dollar. However, the global contagion resulting from the Mexican “Tequila Crisis” of December 1994 put pressure on the real and forced Brazil to defend its currency. The result was the Real Plan, by which Brazil engaged
The Road to Ruin: The Global Elites' Secret Plan for the Next Financial Crisis
by James Rickards · 15 Nov 2016 · 354pp · 105,322 words
money, and more credit. Easy money did not end financial crises; far from it. There was a Latin American debt crisis beginning in 1982, a Mexican peso crisis in 1994, an Asian-Russian financial crisis in 1998, and the 2007–9 global financial crisis. In addition, there were occasional market panics including October
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was October 19, 1987, Black Monday, when U.S. stock markets fell over 20 percent in one day. The second was December 20, 1994, the Tequila Crisis, when Mexico devalued the peso 15 percent in one day. The third was August 17, 1998, when Russia devalued the ruble and defaulted on its
Our Dollar, Your Problem: An Insider’s View of Seven Turbulent Decades of Global Finance, and the Road Ahead
by Kenneth Rogoff · 27 Feb 2025 · 330pp · 127,791 words
fixed exchange rate regime, was the rocket fuel that helped propel Vladimir Putin to power. Other epoch-defining fixed exchange rate crises include the 1994 Mexican peso crisis, the 1997–1998 Asian financial crisis (which hit Thailand, Indonesia, and Korea among others), the 1999 Brazilian crisis, and the 2002 Argentine crisis. In the
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account is the trade balance on goods and services, but it also includes net interest payments and migrant remittances. 16. James Boughton, “Tequila Hangover: The Mexican Peso Crisis and Its Aftermath,” in Tearing Down the Walls: The International Monetary Fund 1990–1999 (Washington, D.C.: International Monetary Fund, 2012), chap. 10. 17. Tim
Stress Test: Reflections on Financial Crises
by Timothy F. Geithner · 11 May 2014 · 593pp · 189,857 words
his government car, returning from Capitol Hill during a different kind of crisis. The secretary had just testified before the House Banking Committee about the Mexican peso crisis, often described as the first financial crisis of the twenty-first century. Mexico was on the brink of defaulting on its obligations, and Rubin had
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to Treasury to help oversee our international efforts, proposed that we should push to expand the IMF emergency fund that we helped create after the Mexican peso crisis. Sobel suggested we try to increase its financing from $50 billion to $300 billion, to make sure it had enough firepower to support countries in
The Wealth and Poverty of Nations: Why Some Are So Rich and Some So Poor
by David S. Landes · 14 Sep 1999 · 1,060pp · 265,296 words
; the balance sheets do not balance; the lenders get cold feet; it becomes impossible to pay old debts with new. Panic! This happened in the Mexican peso crisis of 1994-95. It couldn’t have come at a worse (some would say, a better) time, just after the American administration managed to squeeze
Irrational Exuberance: With a New Preface by the Author
by Robert J. Shiller · 15 Feb 2000 · 319pp · 106,772 words
, 263n1 Mehta, Harshad (“Big Bull”), 127 Mehta Peak, 127 Meksi, Aleksander, 65 Meltzer, Allan, 84 Mergers, 106 Merrill Lynch, xv, 22 Merton, Robert, 189, 261n26 Mexican peso crisis, 128–29 Mexico, 5 Microsoft, 211, 212 Milestones for Dow, 137 Milgram, Stanley, 150–51, 256n4 Milgrom, Paul, 255n20 Millennium. See Turn-of-century optimism
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