04228nam 2200673 450 991046388260332120200520144314.01-4843-1312-71-4983-9587-2(CKB)2670000000587894(EBL)1899707(SSID)ssj0001435458(PQKBManifestationID)11883611(PQKBTitleCode)TC0001435458(PQKBWorkID)11434142(PQKB)11557516(MiAaPQ)EBC1899707(Au-PeEL)EBL1899707(CaPaEBR)ebr11001052(CaONFJC)MIL682311(OCoLC)898771124(EXLCZ)99267000000058789420150114h20142014 uy 0engurcnu||||||||txtccrMexico selected issues paperWashington, District of Columbia :International Monetary Fund,2014.©20141 online resource (67 p.)IMF Country Report ;Number 14/320Description based upon print version of record.1-4983-9543-0 1-322-51029-6 Includes bibliographical references.Cover; Contents; THE IMPACT OF MEXICO'S ENERGY REFORM ON HYDROCARBONS PRODUCTION; A. Current Challenges in the Energy Industry; B. Most Significant Reform Effort in 75 Years; C. Impact on Energy Production; D. Resource Blessed; E. How Long Does it Take?; F. Production Scenarios; FIGURES; 1. Illustrative Baseline Scenarios; 2. Illustrative Downside Scenarios; G. How Much Investment and FDI?; H. Natural Gas Imports and Transport; I. Electricity Reform; J. Conclusion; References; MADE IN MEXICO: THE ENERGY REFORM AND MANUFACTURING OUTPUT; A. IntroductionB. The Mexican Manufacturing Sector Since NAFTAC. The Energy Reform: How Much of a Boost for Mexican Manufacturing?; D. Are There Additional Indirect Effects Through Spillovers?; E. Concluding Remarks and Policy Implications; References; TABLES; 1. Energy Consumption (in Petajoules) of the Industrial Sector; 2. Estimates of Elasticities of Manufacturing Output to Energy Prices; 3. Estimates of Elasticities When Energy Inputs Enter Separately; 4. Differential Effects Across Subsectors; APPENDIX; I. Panel VAR model; APPENDIX FIGURES1. Impulse Response Functions to a Rise in Electricity Prices with Subsector Spillovers 2. Impulse Response Functions to a Rise in Electricity Prices with Regional Spillovers; CAPITAL FLOW VOLATILITY AND INVESTOR BEHAVIOUR IN MEXICO; A. Introduction; B. Recent Episodes of Extreme Capital Movements in Mexico; FIGURES; 1. Mexico: Extreme Capital Flow Episodes; C. Behavior of Foreign and Domestic Mutual Funds in Mexico; 2. Evidence of Herding (net sellers as a percent of total funds); 3. Evidence of Herding (based on the herding index)D. Does Foreign Participation Amplify External Shock? A Time-Series Analysis of Mexican Sovereign Bond Market E. Concluding Remarks; BOXES; 1. OLS and Multivariate GARCH Models; 2. Data on Foreign Mutual Funds; TABLES; 1a. Bond Funds: Evidence of Positive Feedback Trading Behavior; 1b. Equity Funds: Evidence of Positive Feedback Trading Behavior; 2a. Robustness Check (1)-Using a Longer Sample for Foreign Mutual Funds; 2b. Robustness Check (2)-Using Dollar-Denominated Return on the 3-month Government Bonds; 3a. OLS Regression Results (VIX Shock); 3b. OLS Regression Results (U.S. Tapering Shock)4a. Multivariate GARCH Results (VIX Shock)4b. Multivariate GARCH Results (U.S. Tapering Shock); ReferencesIMF country report ;Number 14/320.Global Financial Crisis, 2008-2009Financial crisesMexicoEconomic developmentMexicoElectronic books.Global Financial Crisis, 2008-2009.Financial crisesEconomic development330.90511International Monetary Fund,MiAaPQMiAaPQMiAaPQBOOK9910463882603321Mexico163857UNINA