MICHAEL WALTON is Visiting Senior Fellow, Centre for Policy Research, Delhi, and a Lecturer in International Development at Harvard University's Kennedy School of Government SANTIAGO LEVY is Vice President for Sectors and Chief Economist for the Inter-American Development Bank. He was General Director of the Instituto Mexicano del Seguro Social from 2000 to 2005

• PART I:CONCEPTS AND INTERNATIONAL EXPERIENCE Equity and Development: Political Economy Considerations; F. Bourguignon and S. Dessus Saving Growth from Unequal Influence; R. Rajan The Political Economy of Equality and Growth in Mexico: Lessons from the History of the United States; J. Robinson PART II: THE INTERACTIONS BETWEEN EQUITY, INSTITUTIONS AND GROWTH IN MEXICO The Inequality Trap and its Links to Low Growth in Mexico; I. Guerrero, L. Felipe Lopez Calva and M. Walton Perverse equilibria: unsuitable but durable institutions; C. Elizondo PART III: EQUITY AND CORE INSTIUTIONS IN MEXICO: SOCIAL SECURITY, THE LABOR MARKET AND BANKING Social Security Reform in Mexico: For Whom?; S. Levy Mexican Labor Markets: Power, Protection and Productivity; W. Maloney Why Banks Don't Lend: The Mexican Financial System; S. Haber PART IV: HOW UNEQUAL STRUCTURES HURT COMPETITION IN MAJOR SECTORS Competition and Equity in Telecommunications; R. del Villar Priorities for Telecommunications Reform in Mexico; R. Noll The Governance of Mexico's Petroleum Industry; A.Lajous

MICHAEL WALTON is Visiting Senior Fellow, Centre for Policy Research, Delhi, and a Lecturer in International Development at Harvard University's Kennedy School of Government SANTIAGO LEVY is Vice President for Sectors and Chief Economist for the Inter-American Development Bank. He was General Director of the Instituto Mexicano del Seguro Social from 2000 to 2005

• PART I:CONCEPTS AND INTERNATIONAL EXPERIENCE Equity and Development: Political Economy Considerations; F. Bourguignon and S. Dessus Saving Growth from Unequal Influence; R. Rajan The Political Economy of Equality and Growth in Mexico: Lessons from the History of the United States; J. Robinson PART II: THE INTERACTIONS BETWEEN EQUITY, INSTITUTIONS AND GROWTH IN MEXICO The Inequality Trap and its Links to Low Growth in Mexico; I. Guerrero, L. Felipe Lopez Calva and M. Walton Perverse equilibria: unsuitable but durable institutions; C. Elizondo PART III: EQUITY AND CORE INSTIUTIONS IN MEXICO: SOCIAL SECURITY, THE LABOR MARKET AND BANKING Social Security Reform in Mexico: For Whom?; S. Levy Mexican Labor Markets: Power, Protection and Productivity; W. Maloney Why Banks Don't Lend: The Mexican Financial System; S. Haber PART IV: HOW UNEQUAL STRUCTURES HURT COMPETITION IN MAJOR SECTORS Competition and Equity in Telecommunications; R. del Villar Priorities for Telecommunications Reform in Mexico; R. Noll The Governance of Mexico's Petroleum Industry; A.Lajous

MICHAEL WALTON is Visiting Senior Fellow, Centre for Policy Research, Delhi, and a Lecturer in International Development at Harvard University's Kennedy School of Government SANTIAGO LEVY is Vice President for Sectors and Chief Economist for the Inter-American Development Bank. He was General Director of the Instituto Mexicano del Seguro Social from 2000 to 2005

• PART I:CONCEPTS AND INTERNATIONAL EXPERIENCE Equity and Development: Political Economy Considerations; F. Bourguignon and S. Dessus Saving Growth from Unequal Influence; R. Rajan The Political Economy of Equality and Growth in Mexico: Lessons from the History of the United States; J. Robinson PART II: THE INTERACTIONS BETWEEN EQUITY, INSTITUTIONS AND GROWTH IN MEXICO The Inequality Trap and its Links to Low Growth in Mexico; I. Guerrero, L. Felipe Lopez Calva and M. Walton Perverse equilibria: unsuitable but durable institutions; C. Elizondo PART III: EQUITY AND CORE INSTIUTIONS IN MEXICO: SOCIAL SECURITY, THE LABOR MARKET AND BANKING Social Security Reform in Mexico: For Whom?; S. Levy Mexican Labor Markets: Power, Protection and Productivity; W. Maloney Why Banks Don't Lend: The Mexican Financial System; S. Haber PART IV: HOW UNEQUAL STRUCTURES HURT COMPETITION IN MAJOR SECTORS Competition and Equity in Telecommunications; R. del Villar Priorities for Telecommunications Reform in Mexico; R. Noll The Governance of Mexico's Petroleum Industry; A.Lajous