OECD Economic Surveys V o lu m MEXICO e 2 OECD Economic Surveys 0 0 SPECIAL FEATURES: GETTING THE MOST OUT OF GLOBALISATION, 7 / 1 COMPETITION AND INFRASTRUCTURE, TACKLING POVERTY AND INFORMALITY 8 MEXICO Most recent editions Non-member Countries: Most recent editions Australia, July 2006 Baltic States, February 2000 Austria, July 2007 Brazil, November 2006 Belgium, March 2007 Bulgaria, April 1999 Canada, June 2006 Chile, November 2005 Czech Republic, June 2006 China, September 2005 Denmark, May 2006 Romania, October 2002 Euro area, January 2007 Russian Federation, November 2006 European Union, September 2007 Slovenia, May 1997 Finland, May 2006 Ukraine, September 2007 France, June 2007 Federal Republic of Yugoslavia, January 2003 Germany, May 2006 Greece, April 2007 Hungary, May 2007 Iceland, August 2006 Ireland, March 2006 Italy, June 2007 Japan, July 2006 Korea, June 2007 Luxembourg, July 2006 Mexico, September 2007 O Netherlands, December 2005 E New Zealand, April 2007 C D Norway, January 2007 E Poland, June 2006 c o Portugal, April 2006 n o Slovak Republic, April 2007 m ic Spain, January 2007 S Sweden, February 2007 u r Switzerland, January 2006 ve y Turkey, October 2006 s United Kingdom, November 2005 M United States, May 2007 E X IC O Subscribers to this printed periodical are entitled to free online access. If you do not yet have online access via your institution’s network contact your librarian or, if you subscribe personally, send an e-mail to [email protected] Volume 2007/18 ISSN 0376-6438 S September 2007 2007 SUBSCRIPTION e p (18 ISSUES) t e m ISBN 978-92-64-03843-1 -:HSTCQE=UX]YXV: be Volume 2007/18 10 2007 18 1 P r 2 September 2007 www.oecd.org/publishing 0 0 7 OECD Economic Surveys Mexico 2007 ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT The OECD is a unique forum where the governments of 30 democracies work together to address the economic, social and environmental challenges of globalisation. The OECD is also at the forefront of efforts to understand and to help governments respond to new developments and concerns, such as corporate governance, the information economy and the challenges of an ageing population. The Organisation provides a setting where governments can compare policy experiences, seek answers to common problems, identify good practice and work to co-ordinate domestic and international policies. The OECD member countries are: Australia, Austria, Belgium, Canada, the Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Japan, Korea, Luxembourg, Mexico, the Netherlands, New Zealand, Norway, Poland, Portugal, the Slovak Republic, Spain, Sweden, Switzerland, Turkey, the United Kingdom and the United States. The Commission of the European Communities takes part in the work of the OECD. OECD Publishing disseminates widely the results of the Organisation’s statistics gathering and research on economic, social and environmental issues, as well as the conventions, guidelines and standards agreed by its members. This survey is published on the responsibility of the Economic and Development Review Committee of the OECD, which is charged with the examination of the economic situation of member countries. Also available in French Corrigenda to OECD publications may be found on line at: www.oecd.org/publishing/corrigenda. © OECD 2007 No reproduction, copy, transmission or translation of this publication may be made without written permission. Applications should be sent to OECD Publishing [email protected] or by fax 33 1 45 24 99 30. Permission to photocopy a portion of this work should be addressed to the Centre français d’exploitation du droit de copie (CFC), 20, rue des Grands-Augustins, 75006 Paris, France, fax 33 1 46 34 67 19, [email protected] or (for US only) to Copyright Clearance Center (CCC), 222 Rosewood Drive, Danvers, MA 01923, USA, fax 1 978 646 8600, [email protected]. OECD ECONOMIC SURVEY: MEXICO 2007 – ADDENDUM OECD Economic survey: Mexico 2007 – ADDENDUM The Economic Survey of Mexico was finalized in July 2007. The OECD Economic and Development Review Committee discussed a draft on 2 July 2007 and approved the final Survey, which was revised in the light of the discussion, on 18July 2007. The Survey has not been updated to reflect new developments that have occurred in Mexico since the finalization of the Survey in July. Prominent among these has been the approval by Congress of a tax reform bill on 14 September 2007. The tax reform is a key element of the broader public finance reform which was presented by the government in June 2007. The public finance reform included four main pillars: i)strengthening of the tax administration; ii) improving the institutional framework for public spending; iii) reviewing the fiscal relations across levels of government; and iv)engaging in a tax reform that strengthens public finances and improves the stability of revenue. A detailed review of the proposed reform is provided in Chapter 2 of the Survey with an assessment and recommendations on its various components. The major components of the approved tax reform are the following: 1. The IETU (Impuesto Empresarial a Tasa Unica) is introduced. It is an income tax on firms and professional activities to be applied on the firms’ revenues from the sale of goods, the provision of services and the temporary grant for the use of goods, after deduction of capital spending. Similar to the originally proposed CETU (see Chapter 2, Box 2.2 in this Survey), the IETU acts as a minimum tax for the income tax. The tax will be compared with the firm’s income tax and the income tax withheld by the firm for third parties, such as salaries, wages, and compulsory social contributions paid by the firm, and the higher of the two taxes will be paid. The Mexican asset tax is abolished. The rate for the IETU has been set at 17.5% (rising gradually from 16.5% in 2008 and 17% in 2009, to 17.5% in 2010). This is slightly below the rate which was proposed initially for the CETU (19%). 2. A 2% tax on cash deposits greater than US$2500 is introduced (this threshold is slightly higher than the original proposal of US$2000). Formal businesses and professionals can credit their payments of this tax against their other tax payments. 3. The fiscal regime for the state oil company PEMEX is changed: the change is aimed at reducing the taxes that PEMEX pays on extracted hydrocarbons from 79% to 74% in 2008 (this was not in the original proposal). The tax will be further reduced by an annual 0.5% in 2009- 2011 and by 1% in 2012. In 2008, this change is estimated to provide around US$2.8 billion in extra resources for PEMEX in 2008 and up to around US$5billion in 3 to 4years. In addition, the company has to carry out a program to improve operating efficiency to international standards and funds must be spent on research and modernization rather than on current expenses. OECD ECONOMIC SURVEYS: MEXICO – ISBN 978-92-64-03843-1 – © OECD 2007 OECD ECONOMIC SURVEY: MEXICO 2007 – ADDENDUM 4. A new tax on petrol and diesel of 5.5% is introduced to be phased in over 18 months (this was not in the original proposal). The revenue from this tax will be allocated in its entirety to state governments. Coming after a long period of stalemate on tax reforms, this tax bill is to be welcomed. It helps to strengthen Mexico’s public finances by reducing the dependence on oil revenue and providing more stable sources of revenue to support essential spending needs. The tax reform is expected to raise around 2.3% of GDP by 2012. This is a significant amount, even though somewhat below what was expected from the original proposal (around 2.9% of GDP). As indicated in the Survey, additional tax measures should be considered in the longer run, notably on the consumption tax front, where VAT remains an area of concern because of the large number of exemptions and zero rated goods and services that introduce distortions and complicate tax administration. OECD ECONOMIC SURVEYS: MEXICO – ISBN 978-92-64-03843-1 – © OECD 2007 TABLE OF CONTENTS Table of contents Executive summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Assessment and recommendations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 Chapter 1. Economic performance andkeychallenges . . . . . . . . . . . . . . . . . . . . . . . . . . 21 The short-term outlook. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 Lifting Mexico’s growth performance over the medium term. . . . . . . . . . . . . . . . . . . 27 Strengthening public finances. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29 Making the most from integration in the world economy. . . . . . . . . . . . . . . . . . . . . . 31 Improving infrastructure . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34 Creating more and better jobs and fighting poverty. . . . . . . . . . . . . . . . . . . . . . . . . . . 36 Conclusion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40 Notes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41 Bibliography . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41 Annex 1.A1. Progress in structural reforms. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43 Chapter 2. Putting public finances onafirmerfooting. . . . . . . . . . . . . . . . . . . . . . . . . . . 45 Mexico has a good fiscal record. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 46 The underlying fiscal position is not yet comfortable . . . . . . . . . . . . . . . . . . . . . . . . . 48 Measures to strengthen public finances should not be delayed. . . . . . . . . . . . . . . . . 51 Concluding remarks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60 Notes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 62 Annex 2.A1. PEMEX exploration, production and governance issues . . . . . . . . . . . . 64 Chapter 3. Maximising the gains from integration in the world economy. . . . . . . . . . 69 Trade performance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 71 Strengthening Mexico’s external led growth performance . . . . . . . . . . . . . . . . . . . . . 78 Trade policy: further reducing tariffs and non-tariff barriers . . . . . . . . . . . . . . . . . . . 81 Removing obstacles to FDI and increasing linkages to the Mexican economy. . . . . 90 Concluding remarks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 95 Notes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 96 Bibliography . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 97 Annex 3.A1. Constant market share results . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 Annex 3.A2. Labelling requirements –still an obstacle to trade. . . . . . . . . . . . . . . . . 101 Annex 3.A3. Restrictions on FDI . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 102 OECD ECONOMIC SURVEYS: MEXICO – ISBN 978-92-64-03843-1 – © OECD 2007 3 TABLE OF CONTENTS Chapter 4. Improving infrastructure in Mexico . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 105 An overview of competition and regulation issues. . . . . . . . . . . . . . . . . . . . . . . . . . . . 107 Improving transport infrastructure and services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 108 Competition in the telecommunications sector . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 119 The electricity sector. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 124 Natural gas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 128 Concluding remarks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 129 Notes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 132 Bibliography . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 134 Annex 4.A1. Improving water infrastructure and management . . . . . . . . . . . . . . . . 136 Annex 4.A2. OECD competition assessment toolkit. . . . . . . . . . . . . . . . . . . . . . . . . . . 139 Annex 4.A3. Access pricing to key facilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 141 Chapter 5. Creating more and better jobs andreducing poverty . . . . . . . . . . . . . . . . . . 143 Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 144 Policy interventions to improve labour market outcomes. . . . . . . . . . . . . . . . . . . . . . 149 Social policies and poverty alleviation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 161 Concluding remarks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 169 Notes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 171 Bibliography . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 174 Annex 5.A1. Training programmes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 176 Boxes 1.1. Managing oil revenue flows . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 2.1. Reforming the government employees social securitysystem(ISSSTE) . . . . . . . 49 2.2. The minimum tax on firms and professional activities (CETU) . . . . . . . . . . . . . . 57 2.3. Lessons on VAT reform from other countries . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 59 2.4. Main recommendations for strengthening public finances. . . . . . . . . . . . . . . . . . 61 3.1. The automotive sector in Mexico: its importance, evolution andchallenges . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 73 3.2. Trade diversion, productivity and employment. . . . . . . . . . . . . . . . . . . . . . . . . . . . 78 3.3. Policy complementarities and trade and investment. . . . . . . . . . . . . . . . . . . . . . . 79 3.4. Agriculture issues and trade. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 84 3.5. Rule of law in Mexico. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 94 3.6. Main recommendations on trade and FDI . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 95 4.1. Enforcement of competition law and network regulation. . . . . . . . . . . . . . . . . . . 109 4.2. Crossing the Mexican-US Border . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 112 4.3. Comparing telecommunications prices internationally. . . . . . . . . . . . . . . . . . . . . 120 4.4. The Supreme Court ruling on the Law of Telecommunications andtheLawofRadioand TV . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 123 4.5. Reducing market power and improving competition in the mobile telecommunications sector . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 124 4.6. Main recommendations for improving infrastructure . . . . . . . . . . . . . . . . . . . . . . 130 5.1. Growth and the poverty trap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 148 5.2. Labour market incentives and social protection. . . . . . . . . . . . . . . . . . . . . . . . . . . 152 4 OECD ECONOMIC SURVEYS: MEXICO – ISBN 978-92-64-03843-1 – © OECD 2007 TABLE OF CONTENTS 5.3. The impact of employment protection legislation onlabourmarket performance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 154 5.4. Protection against job loss in Austria and Chile . . . . . . . . . . . . . . . . . . . . . . . . . . . 155 5.5. The conditional transfer programme for poverty alleviation: Oportunidades. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 162 5.6. The development of basic health insurance: SeguroPopular . . . . . . . . . . . . . . . . . 164 5.7. “Social banking” in Mexico . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 166 5.8. Main recommendations to enhance the attractiveness offormal employment andreduce poverty. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 170 Tables 1.1. Short-term economic outlook . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 1.2. Selected indicators for Mexico and five converging countries . . . . . . . . . . . . . . . 29 2.1. How Mexico’s tax system compares with other OECD economies. . . . . . . . . . . . 55 3.1. Main categories of manufactured exports by value . . . . . . . . . . . . . . . . . . . . . . . . 72 3.2. Constant market share summary results. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 77 3.3. Summary of FDI ownership restrictions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 91 3.4. OECD FDI regulatory restrictiveness index for Mexico by sector. . . . . . . . . . . . . . 91 Figures 1.1. Mexico’s growth performance in comparison . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 1.2. Inflation performance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 1.3. The sources of persisting real income differences . . . . . . . . . . . . . . . . . . . . . . . . . 27 1.4. Benchmarking GDP percapita performance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28 1.5. Tax revenue and the level of income in comparison . . . . . . . . . . . . . . . . . . . . . . . 30 1.6. Manufacturing export growth in comparison . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32 1.7. Gross foreign direct investment in Mexico. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33 1.8. Gross foreign direct investment compared . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34 1.9. Infrastructure indicators. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35 1.10. Labour market indicators . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37 1.11. Educational attainment of the working-age population . . . . . . . . . . . . . . . . . . . . 38 1.12. Incidence of poverty in selected countries. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39 2.1. Public sector budget aggregates. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47 2.2. The oil prices and budget assumptions1997-2007 . . . . . . . . . . . . . . . . . . . . . . . . . 48 2.3. Public sector oil revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50 2.4. Distribution of implicit VAT “subsidy”, 2005. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 58 2.A1.1. Oil production. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65 3.1. Mexico’s trade with regional trade agreement (RTA) countries. . . . . . . . . . . . . . . 72 3.2. Indicators of openness in trade . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 74 3.3. Real exchange rates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 76 3.4. Market share of selected countries in USA manufactured imports . . . . . . . . . . . 77 3.5. Total trade barriers (tariff and non-tariff) in comparison. . . . . . . . . . . . . . . . . . . 81 3.6. Applied tariff rates: 1986to2006 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 82 3.7. Distribution of Mexico’s tariff levels . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 83 3.8. Mexico’s tariffs by product category . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 85 3.9. Time taken for import and export procedures, in comparison. . . . . . . . . . . . . . . 87 OECD ECONOMIC SURVEYS: MEXICO – ISBN 978-92-64-03843-1 – © OECD 2007 5 TABLE OF CONTENTS 3.10. Antidumping measures in force 30June2006 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 89 3.11. Foreign direct investment restrictiveness index . . . . . . . . . . . . . . . . . . . . . . . . . . . 90 3.12. Gross FDI inflow by sector. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 92 3.13. Rule of law indicator, 2006 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 94 4.1. Extent of restrictive regulation in network industries, 2003 . . . . . . . . . . . . . . . . . 107 4.2. Cargo transportation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 110 4.3. Structure of supply in the road freight industry, 2004 . . . . . . . . . . . . . . . . . . . . . . 110 4.4. Shipping costs and port infrastructure quality . . . . . . . . . . . . . . . . . . . . . . . . . . . . 117 4.5. Air cargo trends and infrastructure quality . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 119 4.6. Telephone charges in the OECD. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 121 4.7. Electricity infrastructure indicators: international comparison . . . . . . . . . . . . . . 126 5.1. Participation rates, 1994-2004. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 145 5.2. Poverty in Mexico. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 147 5.3. Total tax wedge by income level, 2006 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 150 5.4. Employment Protection Legislation (EPL), 2003. . . . . . . . . . . . . . . . . . . . . . . . . . . . 153 5.5. Share of youth leaving school without a qualification, 2003. . . . . . . . . . . . . . . . . 157 5.6. Public social spending in comparison, 2003. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 161 5.7. Coverage of health and pension insurance by income deciles . . . . . . . . . . . . . . . 167 This Survey is published on the responsibility of the Economic and Development Review Committee of the OECD, which is charged with the examination of the economic situation of member countries. The economic situation and policies of Mexico were reviewed by the Committee on 2July2007. The draft report was then revised in the light of the discussions and given final approval as the agreed report of the whole Committee on 18July2007. The Secretariat’s draft report was prepared for the Committee by Bénédicte Larre, David Haugh and Bruno Rocha under the supervision of Stefano Scarpetta. Research assistance was provided by RoselyneJamin. The previous Survey of Mexico was issued in November2005. This book has... StatLinks2 A service that delivers Excel® files from the printed page! Look for the StatLinks at the bottom right-hand corner of the tables or graphs in this book. To download the matching Excel® spreadsheet, just type the link into your Internet browser, starting with the http://dx.doi.org prefix. If you’re reading the PDF e-book edition, and your PC is connected to the Internet, simply click on the link. You’ll find StatLinks appearing in more OECD books. 6 OECD ECONOMIC SURVEYS: MEXICO – ISBN 978-92-64-03843-1 – © OECD 2007