TY  - GEN
AU  - Gavin, Michael
TI  - The Mexican Oil Boom: 1977-1985
PY  - 2010
Y1  - 2010/12/10
DO  - 10.18235/0011582
AB  - The Mexican oil boom was characterized by a period of high investment, followed by capital flight. The private sector and households responded to the 1977-1981 windfall by attaining high savings rates. On the other hand, the Mexican government, the proprietor of the state oil company and the principal beneficiary of the oil boom, used windfall revenues to finance unsustainable spending and even engage in dissaving. These policies produced macroeconomic dislocations that made Mexico highly vulnerable to the inevitable external shocks.
UR  - https://doi.org/10.18235/0011582
ER  -