Mexico is a highly centralized federation. The states and municipalities are highly dependent on federal transfers and so equally at risk to the country’s fiscal dependence on oil. Although Mexico has become more truly federal since multiparty competition has become vibrant and several states...

Mexico is a highly centralized federation. The states and municipalities are highly dependent on federal transfers and so equally at risk to the country’s fiscal dependence on oil. Although Mexico has become more truly federal since multiparty competition has become vibrant and several states...