LEADER 04228nam 2200673 450 001 9910463882603321 005 20200520144314.0 010 $a1-4843-1312-7 010 $a1-4983-9587-2 035 $a(CKB)2670000000587894 035 $a(EBL)1899707 035 $a(SSID)ssj0001435458 035 $a(PQKBManifestationID)11883611 035 $a(PQKBTitleCode)TC0001435458 035 $a(PQKBWorkID)11434142 035 $a(PQKB)11557516 035 $a(MiAaPQ)EBC1899707 035 $a(Au-PeEL)EBL1899707 035 $a(CaPaEBR)ebr11001052 035 $a(CaONFJC)MIL682311 035 $a(OCoLC)898771124 035 $a(EXLCZ)992670000000587894 100 $a20150114h20142014 uy 0 101 0 $aeng 135 $aurcnu|||||||| 181 $ctxt 182 $cc 183 $acr 200 00$aMexico $eselected issues paper 210 1$aWashington, District of Columbia :$cInternational Monetary Fund,$d2014. 210 4$dİ2014 215 $a1 online resource (67 p.) 225 1 $aIMF Country Report ;$vNumber 14/320 300 $aDescription based upon print version of record. 311 $a1-4983-9543-0 311 $a1-322-51029-6 320 $aIncludes bibliographical references. 327 $aCover; 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. Introduction 327 $aB. 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 FIGURES 327 $a1. 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) 327 $aD. 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) 327 $a4a. Multivariate GARCH Results (VIX Shock)4b. Multivariate GARCH Results (U.S. Tapering Shock); References 410 0$aIMF country report ;$vNumber 14/320. 606 $aGlobal Financial Crisis, 2008-2009 606 $aFinancial crises$zMexico 606 $aEconomic development$zMexico 608 $aElectronic books. 615 0$aGlobal Financial Crisis, 2008-2009. 615 0$aFinancial crises 615 0$aEconomic development 676 $a330.90511 712 02$aInternational Monetary Fund, 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910463882603321 996 $aMexico$9163857 997 $aUNINA