Re‐Examining the Case for a Vertical Industrial Policy in Mexico: A Step Backward or Forward?

This article examines the evolution of Mexican industrial policy since World War II. From the 1950s, Mexico intervened actively in the economy, closed it off from international competition, and achieved high economic growth rates. At the same time, it faced serious imbalances in fiscal and external accounts, which resulted in the debt crisis of the early 1980s. Afterward, Mexico left the productive sphere and allowed the market to rule the...