Second, aggregate labor productivity fell because, relative to total labor in the economy, production dropped in agriculture and nonmanufacturing more than it grew in manufacturing and services. In other words, the increasing role of manufacturing and services in the Mexican economy did not sufficiently compensate for the diminishing influence of the other two, smaller sectors.
There are several measures that EMEs need take to promote liquidity and to develop corporate bond markets: •  First, they need to broaden and diversify the investor base;  •  Second, they need to develop domestic derivatives markets; and  •  Third, they need to strengthen the legal framework and the market infrastructure.