CEPAL Review

Cepal Review is the leading journal for the study of economic and social development issues in Latin America and the Caribbean. Edited by the Economic Commission for Latin America, each issue focuses on economic trends, industrialization, income distribution, technological development and monetary systems, as well as the implementation of economic reform and transfer of technology. Written in English and Spanish (Revista de la Cepal), each tri-annual issue offers approximately 12 studies and essays undertaken by authoritative experts or gathered from conference proceedings.

English Spanish

Mexico’s slow-growth paradox

This paper analyzes the problem of slow economic growth In Mexico. It decomposes the growth of output from the demand side and reveals the critical rote played by the sluggish performance of investment. Using econometric tools, it argues that this sluggishness can be explained in part by the peso’s appreciation during disinflation and its adverse impact on investment profitability. Finally, it shows that the problem has been complicated by a long-run decline in the GDP/capital ratio.

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