Financialization and public spending in Mexico, 2000-2011

Abstract

The transformation of the state’s participation in the economy validated new forms of realizing profits, especially in the financial sector. This article analyzes the repercussions of financialization on public spending in Mexico, placing particular emphasis on the financial costs of public debt. The question that this article addresses is in what ways do the structure and dynamic of public spending in Mexico respond to the needs of financial capital?