Abstract
This paper analyzes the relationship between economic activity in Mexico and a set of relevant Mexican financial variables. Monthly data for the period January 1993 to August 2018 includes time series of global economic activity index, consumer price index, peso-USD exchange rate, international reserves, interest rate of short-term Mexican T-bills, Mexico´s stock market index and its level of activity as measured by the volume of operations on variable income assets. The analysis is based on an Autoregressive Distributed Lag (ADRL) model. The empirical evidence reveals that all explanatory variables, except the stock market index, show a long-run relationship with the level of Mexican economy activity.
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