Publication

This report addresses the causes and nature of the mid-1990 financial crisis in Mexico, the prospects for the future, and the implications for the US. The author analyzes the crisis as it has developed over the past decade-and-a-half, with the primary focus being on the six-year term of President Carlos Salinas de Gortari and the first few months of his successor, President Ernesto Zedillo Ponce de León. Contrasting the euphoric hopes generated by the North American Free Trade Agreement (NAFTA) with the explosive events of 1994 and early 1995, the author explains how things went wrong in Mexico.