Abstract:PEMEX, Mexico’s state oil company, was fiercely defended against privatization proposals throughout most of Mexico’s neoliberalization process, even as hundreds of state-owned enterprises were privatized, for two major reasons. First, the state increasingly came to depend on oil income to guarantee its fiscal needs, and this allowed it to postpone a tax reform, to the benefit of economic elites. Second, the meaning of oil in Mexican political culture partially shielded the energy sector from privatization atte… Show more
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