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What is NAFTA and how has it affected the Mexican economy?

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Bora77idn

Explanation:

This paper provides a comprehensive assessment of the impact of NAFTA on growth and business cycles in Mexico. The effect of the agreement in spurring a dramatic increase in trade and financial flows between Mexico and its NAFTA partners, and its impact on Mexican economic growth and business cycle dy-namics, are documented with reference both to stylized facts and recent empiri-cal research. The paper concludes by drawing lessons from Mexico’s NAFTA experience for policymakers in developing countries. The foremost of these is that in an increasingly globalized trading system, bilateral and regional free trade arrangements should be used to accelerate, rather than postpone, needed struc-tural reform

# Bora 7 #

Flgirl2023idn
NAFTA stands for the North American Free Trade Agreement. It was created January 1, 1994 and is an agreement between the United States, Canada, and Mexico. It claims to eliminate all tariff/non-tariff barriers of trade and investment between all 3 countries.

This affected Mexico’s economy by boosting farm exports to the United States. There were also many new jobs created within the country and there were reports of increased productivity and lowered consumer prices. It would increase wage rates, create jobs, and lower poverty levels.

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