Summary

The predominant economic policies have promoted the financialization of Latin American economies, which has been to the detriment of the endogenous conditions of accumulation and has led the economy to depend on the behavior of exports and capital inflow, which is why they are placed in a context of high vulnerability. When these variables acted in a positive way, conditions of stability and certain growth were reached. By failing to act positively, imbalances in public finances and the external sector manifest themselves, destabilizing exchange rate parity, the capital market and slowing growth. Governments are reacting with restrictive monetary and fiscal policies, which further weaken economies. The Latin American economies and in particular the Mexican economy, which is the object of study, do not present prospects for growth towards the external market, given the slowdown in international trade, and the eventual protectionist policies that the new government will implement in the United States. There is also no prospect of inward growth, because economic liberalization and high levels of indebtedness prevent them from flexibilizing economic policy.

Keywords:
Financing; Commercial and financial liberalization; External variables; Vulnerability; Stagnation