Mexico Economic and Political Vocabulary

Flashcards covering vocabulary terms related to Mexico's economic, political, and social context.

Dependency (theory)

Suggests that the development of some countries is subject to change upon the exploitation and underdevelopment of others, particularly in capitalist economies.

Fragile States Index

Identifies states facing significant challenges in governance and stability, based on indicators such as security threats, economic decline, human rights violations, and social unrest.

Global South

A broad grouping of countries characterized by lower income levels, higher poverty rates, and historically subordinate positions in the global political and economic order.

Globalization

The increasing interconnectedness and interdependence of people, cultures, economies, and nation-states facilitated by technology, trade, and cultural diffusion.

Human Development Index (HDI)

An index that includes indicators of per capita income, life expectancy, and education, which are predictors of greater human development.

Microcredit

Financial initiatives that provide small loans to low-income individuals, particularly women, who do not have access to traditional banking services.

Multinational Corporation (MNC)

Large companies that operate in multiple countries conducting business activities across national borders.

Newly Industrialized Country (NIC)

Developing economy that has transitioned from being primarily based on agriculture or raw material extraction to manufacturing.

Nongovernmental Organization (NGO)

Private entities that operate independently from the government and work towards addressing various social, economic, or environmental issues.

Organization of Petroleum Exporting Countries (OPEC)

Permanent intergovernmental organization of oil-exporting nations that coordinates petroleum policies to influence the global oil market.

Structural Adjustment (Programs)

Economic reforms a country must implement to secure loans from international financial institutions, often involving reduced government spending and privatization.

Subsistence Economy

An economic system where communities rely primarily on natural resources to meet their basic needs, with minimal surplus and trade.

Camarilla

A politician’s personal following in a patron-client relationship, often surrounding a ruler with influential advisors without official authority.

Institutional Revolutionary Party (PRI)

A political party that dominated in Mexico for most of the 20th century due to patron-client relationships and is centrist

Maquiladora

Factories that produce goods for export, often located along the US-Mexican border.

Mestizo

A person of mixed white, indigenous, and sometimes African descent.

National Action Party (PAN)

A conservative Catholic Mexican political party that was the main opposition to the PRI until 2000.

North American Free Trade Agreement (NAFTA)

A treaty among the US, Mexico, and Canada that eliminates trade barriers and establishes procedures to resolve trade disputes.

Party of the Democratic Revolution (PRD)

Mexico's main left-of-center opposition party.

Pemex (Petroleos Mexicanos)

Mexico's powerful state-owned oil monopoly.

Sexeno

The six-year administration of Mexican presidents.