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The pervasive impact of digitalization on the economy and the lack of an agreed definition makes it challenging to obtain estimates of the digital economy. Nowadays, some countries have estimated the value of the digital economy by identifying digital products or industries as defined in the international classifications. This study presents the estimates of digital industries for five countries that participated in an experimental exercise, applying a simplified standard approach recommended by the international agencies as part of the national accounts framework and using publicly available and limited secondary information. The results show that the structure and evolution of digital industries vary across countries and over time and that the estimates depend significantly on the underlying data sources. The conclusions of this exercise reveal the need to upgrade the data sources to better identify the impact of digitalization and contribute to policy-making on the economic benefits of digitalization.

Mexico

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Mexico has a resilient financial system but a low level of financial inclusion. The financial system is smaller than in peer countries and is dominated by commercial banks that have had large capital and liquidity buffers for years. Despite these buffers and the high profitability in the banking sector, credit growth has been low due to both supply and demand factors, with banks targeting mainly the prime segments of the economy. The COVID-19 pandemic has had a limited impact on the financial system, reflecting a mix of resumption in mobility and support from global and domestic policies.

Mexico

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Using a new quarterly panel database on remittances (71 countries over the period 2011Q1- 2020Q4), this paper investigates the elasticity of remittances to transaction costs in a high frequency and dynamic setting. It adds to the literature by systematically exploring the heterogeneity in the cost-elasticity of remittances along several country characteristics. The findings suggest that cost reductions have a short-term positive impact on remittances, that dissipates beyond one quarter. According to our estimates, reducing transaction costs to the Sustainable Development Goal target of 3 percent could generate an additional US$32bn in remittances, higher that the direct cost savings from lower transaction costs, thus suggesting an absolute elasticity greater than one. Among remittance cost-mitigation factors, higher competition in the remittance market, a deeper financial sector, and adequate correspondent banking relationships are associated with a lower elasticity of remittance to transaction costs. Similarly, remittance cost-adaptation factors such as enhanced transparency in remittance costs, improved financial literary and higher ICT development coincide with remittances being less sensitive to transaction costs. Supplementing the panel analysis, the use of micro data from the USA-Mexico corridor confirm that migrants facing higher transaction costs tend to remit less, and that this effect is less pronounced for skilled migrants and those that have access to a bank account.

Mexico

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Mexico

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"The Mexico Reader is a vivid and comprehensive guide to muchos Méxicos-the many varied histories and cultures of Mexico. Unparalleled in scope, it covers pre-Columbian times to the present, from the extraordinary power and influence of the Roman Catholic Church to Mexico's uneven postrevolutionary modernization, from chronic economic and political instability to its rich cultural heritage. Bringing together over eighty selections that include poetry, folklore, photoessays, songs, political cartoons, memoirs, journalism, and scholarly writing, this volume highlights the voices of everyday Mexicans-indigenous peoples, artists, soldiers, priests, peasants, and workers. It also includes pieces by politicians and foreign diplomats, literary giants Octavio Paz, Gloria Anzaldúa, and Carlos Fuentes, and pieces about and by revolutionary leaders Pancho Villa and Emiliano Zapata. This revised and updated edition features new selections that address twenty-first century developments, including the rise of narcopolitics, the economic and personal costs of the United States' mass deportation programs, the political activism of indigenous healers and manufacturing workers, and the impact of the COVID-19 pandemic. The Mexico Reader is an essential resource for travelers, students, and experts alike."--

Mexico --- Mexico --- Mexico --- History. --- Social conditions. --- Economic conditions.