Economist Mariana Mazzucato and co-author Lara Merling presented a study to the Secretaría de Economía evaluating the effectiveness of Mexico's 'Plan México' initiative.
The evaluation arrives as the Mexican government seeks to transform its national economy by better utilizing state-driven innovation to stimulate sustainable growth.
The study identifies a significant imbalance in how value is generated across the Mexican business landscape. According to the research, 95% of companies generate only 16% of the national value [1]. This suggests that a very small fraction of firms is responsible for the vast majority of the country's economic output.
Mazzucato said there are substantial financial resources that could be leveraged to support a more robust industrial policy. The study cites approximately 1 trillion pesos available through NAFIN, Bancomex, and Afores [1]. These funds could potentially be redirected to drive the innovation goals outlined in the government's strategy.
Public and professional reception of the proposal has been divided. David Razú, a journalist and commentator, said the plan starts from an adequate diagnosis and offers a pertinent route to transform the national economy [2].
However, other assessments have been less optimistic. An opinion piece in El Economista said there are failures and limitations within the proposal, questioning whether the recommendations provided by Mazzucato are viable for the Mexican context [3].
The presentation took place in Mexico City during the week preceding July 21, 2026 [3]. The resulting discussions focus on whether the state can successfully transition from a passive role to an active driver of economic transformation.
“95% of companies generate only 16% of the national value”
The tension between the praised diagnosis and the questioned viability of 'Plan México' reflects a broader debate over the role of the state in industrialization. While the availability of trillion-peso funds provides the necessary capital, the disparity in value creation suggests that Mexico faces a structural challenge in scaling its small and medium enterprises to become primary drivers of innovation.
