This Fiscal Transparency Evaluation (FTE) report assesses Mexico’s fiscal transparency practices against the IMF’s Fiscal Transparency Code (FTC), including the draft pillar on resource revenue management. Mexico scores relatively well when compared with other Latin American countries and emerging market economies that have undergone a FTE. Out of the 48 principles across four pillars in the FTC, Mexico meets 16 principles at the basic level, 9 principles at the good level and 15 principles at the advanced level, while one principle does not apply. Fiscal transparency practices are strongest in the areas of resource revenue management and fiscal forecasting and budgeting, while the scores on fiscal risks analysis and management are lower.
International Monetary Fund. Western Hemisphere Dept.
This Selected Issues paper assesses the economic impact of Mexico’s structural reforms. The Mexican authorities have been implementing an ambitious structural reform agenda in a coordinated effort to lift productivity growth. The reforms have targeted a broad range of industries; dissolved state monopolies; and addressed labor market, education, and governance shortcomings. The analysis suggests that external headwinds have masked evidence that the reforms are achieving many of the intended transformations in the targeted sectors. Priority should go to reforms targeting the rule of law and attendant improvements in security and reduction of corruption. These will not only improve the business environment but are key to the success of existing reform efforts.
The Research Summaries in this issue of the IMF Research Bulletin cover “Tax Capacity and Growth” (by Vitor Gaspar, Laura Jaramillo, and Philippe Wingender), and “U.S. Shale Revolution and Its Spillover Effects on the Global Economy” (Ravi Balakrishnan, Keiko Honjo, Akito Matsumoto, and Andrea Pescatori). The Q&A coauthored by Amadou Sy and Mariama Sow covers “Seven Questions about the Relationship between Country Finance and Governance.” A listing of recent IMF Working Papers, Staff Discussion Notes, and Recommended Readings from IMF Publications is included in the IMF Research Bulletin. Readers can also find news on free-to-view articles from IMF Economic Review and a call for conference papers in this issue of the Bulletin.
The December issue of the Research Bulletin looks at “Seven Questions about Climate Change” (Rabah Arezki and Akito Matsumoto). The Research Summaries review “Winning the Oil Lottery: The Impact of Natural Resource Extraction on Growth” (Tiago Cavalcanti, Daniel Da Mata, and Frederik Toscani) and “Malaysia: Achieving High-Income Status through Resilience and Inclusive Growth” (Alex Mourmouras and Naimh Sheridan). The issue also includes regular updates on new IMF Working Papers, Staff Discussion Notes, IMF books, and the IMF Economic Review.
The recent boom in unconventional energy production is transforming the energy landscape in North America, with important implications for global energy markets and the broader competitiveness outlook.
This book, within a unifying policy perspective, examines the impact the upsurge in energy production has had on the manufacturing sectors of the United States, Canada, and Mexico, and of the region as a whole, which produces nearly a quarter of the world’s energy.