The winding down of the U.S. Federal Reserve's asset purchasing program is generally viewed as negative for Mexico and other emerging markets.
Yet, if managed properly, the "taper" of the program could be positive for these markets, according to Agustin Carstens, Governor of the Bank of Mexico.
"If tapering leads to a more normal situation I think that that will be good for the markets and for Mexico," Carstens, who was runner-up to Christine Lagarde when she was appointed managing director of the International Monetary Fund (IMF), said.
"Tapering is not tightening. It's a less aggressive monetary policy."
(Read more: Why emerging markets party as Fed puts off taper)
He added that communication by the Fed's Open Markets Committee, which initiated forward guidance under Ben Bernanke, was key.
When speculation that tapering would be announced this autumn by the Fed began, capital flooded out of emerging markets including Mexico. The Mexican peso has weakened and its bond yields have risen when economic data has indicated the Fed may start the tapering process soon.
(Read more: Mexico: The emerging market next door)
"Economies like Mexico will always need capital. What is important is to have capital going into your economy at the right pace," Carstens said. "We have a real limit on the amount of capital we can absorb in a certain unit of time so if they're timed adequately, it's fine and so far we have in general we have been able to manage them appropriately."
Mexico, the U.S.'s neighbor, is also one of the countries most dependent on U.S. economic growth, so many fear that it could be affected if the U.S. defaults on its debt repayments. Carstens was optimistic that the U.S. would solve the dispute in the House of Representatives between Republicans and Democrats over its budget.