Economic Promotion as a Foreign Policy Tool: Achievements and Challenges

Economic promotion has come to play an important role in the foreign policy of Mexico and other countries over the last 30 years, since it is believed to foster economic growth by boosting exports and attracting FDI. However, recent studies indicate there is no clear evidence specialized promotion agencies contribute to economic growth, and even less to suggest they have an impact on socioeconomic development. Given these findings, economic promotion efforts need to be reoriented toward strategies like the international transfer of technology that have a direct impact on economic development, as opposed to growth alone.