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Essay / Research Paper Abstract
This 9-page paper provides an overview of the Mexican banking system and its current trends. Also included in this paper are discussions about how the 1994 peso devaluation and 1982 government nationalization of the banks impacted the banking industry. Bibliography lists 4 sources.
Page Count:
9 pages (~225 words per page)
File: D0_MTmexban.rtf
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Unformatted sample text from the term paper:
came out of Mexicos banks. First there was the huge recession of 1982, which meant that the government had to take over the banks. Then came an unfortunate experiment in
bank privatization that ended up fueling the peso devaluation crisis of 1994. In the ensuing years, the banks, strapped for cash, floundered and ended up tottering on the brink of
bankruptcy, at least until the Mexican Congress relented and cut down (and eventually eliminated) foreign restrictions on bank ownership in Mexico. As a result, the banks attracted a great deal
of foreign investment from outside sources, which has helped the institutions move toward a more positive way of doing business and dealing with finances.
In short, the Mexican banking system is moving from one that was highly closed and nationalized toward one that is ready to face global competition. Right now, however,
the system is in transition - and as anyone knows, transitions can entail growing pains. Banking System Profile When discussing the question
of domestic banks versus foreign banks in Mexico, this almost needs to be considered within the same category, especially in this day and age. While Mexican banks were once considered
only domestic, todays banks are, for the most part, owned and operated by foreign concerns, which control assets through subsidiaries and special financial groups.
The globalization of Mexican banking began during early 1994, with the advent of the North American Free Trade Agreement (NAFTA) (Bubel and Skelton, 2002). NAFTA was the first
wedge into what had been essentially a closed banking system in Mexico (Bubel and Skelton, 2002). More openness on the part of the Mexican banks was necessary in order for
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