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2003 OECD Economic Surveys: Mexico 2003

image of OECD Economic Surveys: Mexico 2003

This 2003 edition of OECD's periodic review of Mexico's economy includes special features on structural reform and migration.

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Structural Reforms for Sustaining High Growth

Mexico’s development aspirations have been frustrated by low underlying growth rates over several decades. Chapter I has identified several major impediments to sustained high growth: low human and physical capital; an inefficient formal labour market; weaknesses in sectoral regulatory frameworks; and an unfriendly business environment. Further enhancing skills of the present labour force and future generations of workers is essential to increase potential growth and raise income. The magnitude of the benefits to be drawn from increased human capital depends however on progress in other structural areas. A well-functioning labour market is needed to translate human capital improvement into higher output, productivity and wages. Moreover, business costs arising from labour and product market regulations, infrastructure bottlenecks, and the functioning of the legal system need to be addressed. Both human capital and improved regulation could underpin the expansion of investment (both domestic and foreign) and the diffusion of new technologies. This chapter reviews the policy measures that are needed in these areas. A synthesis of the main recommendations for structural reform is presented in Box 10 at the end. A final section looks at three specific issues of sustainable development: air pollution, use of water and water pollution...

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