As noted by the same literature, the euro area and Switzerland have played a comparable role, albeit at a regional level and on a smaller scale.
The depth of the benefits the reforms could eventually bring depends greatly on how they are implemented. Additionally, to more profoundly transform Mexico’s economy, other policy measures would help, such as strengthening the rule of law, enhancing physical infrastructure, and improving public security. Meanwhile, the reforms undertaken offer great scope for further U.S. investment in Mexico, thus further binding the two economies.