Abstract

CRUZ, Moritz. Breaking the Mexican Neoliberal Rate of Growth: a Harrodian Proposal. Economía UNAM [online]. 2008, vol.5, n.14, pp.70-86. ISSN 1665-952X.

This paper presents an economic proposal for the Mexican economy aimed at breaking the tendency of its neoliberal rate of growth. The proposal is underpinned on Harrod's growth model. The aim is to highlight the policy strategy to equalize the actual, warranted and natural rates at the 6% growth without activating the external growth restriction. The strategy consists on promoting the aggregate demand through higher public expenditure (investment) which has to be financed with the resources from a progressive fiscal policy; The implementation of an aggressive policy of research and development to increase substantially productivity. To prevent the external restriction of growth to activate it is suggested a dual policy aiming at promoting exports through maintaining a competitive real exchange rate policy and reducing the income elasticity of imports through a policy of import substitution.

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