No Growth without Equity? Inequality,

Equity and growth are central concerns for development in Mexico. Specific inequalities in income, power, wealth, and status create and sustain economic institutions and policies that perpetuate these inequalities and promote poor economic performace. 'No Growth without Equity? Inequality, Interests, and Competition in Mexico' presents a novel analysis showing why more equality is necessary to increase economic growth.The authors analyze the causes of persistent inequality and weak growth in Mexico, despite major changes associated with NAFTA and democratization, and draw implications for policy design. The book involves an innovative synthesis of work on overall links between equity and growth, and carefully grounded analysis in specific areas. The issues are of intense interest to policy debate in Mexico and to the development community in Latin America and elsewhere.

Contributors	p. xv
Acknowledgments	p. xvii
Abbreviations	p. xix
Equity, Competition, and Growth in Mexico: An Overview	p. 1
Concepts and International Experience
Equity and Development: Political Economy Considerations	p. 45
Saving Growth from Unequal Influence	p. 71
The Political Economy of Equality and Growth in Mexico: Lessons from the History of the United States	p. 87
Interactions between Equity, Institutions, and Growth in Mexico
The Inequality Trap and Its Links to Low Growth in Mexico	p. 111
Perverse Equilibria: Unsuitable but Durable Institutions	p. 157
Equity and Core Institutions in Mexico: Social Security, the Labor Market, and Banking
Social Security Reform in Mexico: For Whom?	p. 203
Mexican Labor Markets: Protection, Productivity, and Power	p. 245
Why Banks Do Not Lend: The Mexican Financial System	p. 283
How Unequal Structures Hurt Competition in Major Sectors
Competition and Equity in Telecommunications	p. 321
Priorities for Telecommunications Reform in Mexico	p. 365
The Governance of Mexico's Oil Industry	p. 389
Index	p. 427
Figures
GDP Per Capita, Mexico and Selected Comparators, 1950-2004	p. 2
The Standard Oil Company	p. 94
The Evolution of Wealth Inequality, 1780-1980	p. 97
The Evolution of Income Inequality, 1910-95	p. 101
A Contemporary View of the Growth Effects of Antitrust Actions	p. 102
Democracy Demolishing the Trusts	p. 103
How Unequal Structures Cause Suboptimal Development	p. 113
Ratio of Net Worth of Mexican Billionaires to GDP, 1990-2008	p. 115
Net Worth of Local Billionaires in Relation to GDP, Mexico in International Context, 2007	p. 117
Implicit Income of Billionaires Compared with the Incomes of the Richest Groups in the ENIGH, 2004	p. 118
Distribution of Incomes of Agricultural and Nonagricultural Workers	p. 123
CFC Resolutions on Monopolistic Practices, 1998-2004	p. 128
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No Growth without Equity? Inequality, Interests, and Competition in Mexico

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