Mexico elections: a glass half-full

Elections in Mexico on Sunday delivered a broadly market-positive result, with the coalition led by the ruling PRI Party retaining its majority in Congress. But while this should ensure that Mexico avoids the kind of legislative gridlock that has hung over other countries in Latin America in recent months (notably Brazil), the violence that marred the poll reflects more fundamental and deep-seated concerns about corruption, organised crime and a weak rule of law. Despite a wave of liberalising reforms over the past couple of years, these problems will continue to prevent the economy from achieving its full potential.