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Deputy Governor of Banco de México on the Mexican Economy

October 03, 2016

Dr. Raymond Robertson and Dr. Manuel Sánchez González

 

The Mosbacher Institute for Trade, Economics, and Public Policy hosted its first Conversation in Public Policy of the academic year on Thursday, September 15, 2016. The event, entitled “Changing Structure of the Mexican Economy: Mexico as a Regional Leader,” featured Dr. Manuel Sánchez González, deputy governor of the Banco de México. 

The evening began with welcoming remarks from Dr. Lori Taylor, director of the Mosbacher Institute, noting Dr. Sanchez’s extensive track record in Mexican financial institutions and his education at the University of Chicago, where he received his masters and doctorate in economics.

Dr. Sánchez began by pointing out the complex relationship that the United States and Mexico have, highlighting the positive and negative effects certain American policy decisions have on the monetary and economic affairs of Mexico. He noted that the special relationship enjoyed by the United States leads to the sharing of ideas and technology, to the betterment of both countries. But in some cases, this relationship can have negative effects on manufacturing and labor and result in deterioration of certain markets. Dr. Sánchez also discussed key issues currently affecting the monetary value of the peso in relation to the US dollar as well as Mexico’s public debt to GDP ratio. He concluded by emphasizing that a strong stance on inflation in Mexico, coupled with continued success in trade agreements and cuts in certain inefficient public programs, should strengthen the Mexican economy.

Upon completion of Dr. Sánchez’s remarks, Dr. Raymond Robertson, Bush School professor and holder of the Helen and Roy Ryu Chair in Economics and Government, joined Dr. Sánchez on stage for a discussion about the Mexican economy. While most of Dr. Sánchez’s speech was directed at solutions to current issues in the Mexican financial market, Dr. Robertson turned the conversation toward the recent reforms instituted in Mexico. Dr. Sánchez elaborated on the points made in his remarks and spoke about the steps the Mexican Congress and President Nieto took to help revitalize aspects of the Mexican economy and keep a forward-thinking mentality. He stated that laws regarding telecommunications, labor, education, competition, and banking were all overhauled and, in the past few years, have started to be implemented, resulting in an increase in services for Mexican citizens. Dr. Sánchez noted certain areas where implementation has been difficult but was fairly confident that the decisions of the Mexican government will positively benefit the economy and growth for years to come. In his final remarks to the audience and in particular to the students, Dr. Sánchez endorsed the methods of the Bush School because of the School’s focus on theory-based practicality, and he endorsed the continued use of both theory and practicality to guide students’ efforts once they leave the University.

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