The stock exchange, the state and economic development in Mexico, 1884 - 2012

Résumé

In this article I support the hypothesis that the stock exchange market played an small roll in Mexican economic development due to its small size. The State was to blame. Public Institutions provides credit to the firms to guaranty its political loyalty during the PRI coorporativism Government. On the other Stock Exchange has serious problems in terms of property rights definition, information and freedom. Big corporations grew thanks to this institutional obstacles. Only since 2000, thanks to the democratization of the country, Stock Exchange had assumed has become a strong financial agent and has democratized itself.