Keynote Speech: Macro-Financial Policy Challenges in the Face of a Complex Environment: The Case of Mexico |
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Authors: | Daniel Chiquiar Martin Tobal |
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Institution: | 1. Banco de México, México City, Méxicodchiquiar@banxico.org.mx;3. Banco de México, México City, México |
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Abstract: | Emerging economies face a complex environment as of April 2015, mostly as a result of a slowdown in global growth, an increased risk of capital flow reversals, and a reduction in the price of oil. Due to the effects of this reduction on external and fiscal balance, the environment is particularly adverse for oil-exporting countries. This article reviews the different channels through which the environment entails financial risk for emerging economies, focusing on Mexico, an emerging and oil-exporting country. Our analysis reveals that this country faces several macro-financial policy challenges stemming from the aforementioned financial risks. |
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Keywords: | financial stability emerging market economies Mexico |
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