Advanced Search
MyIDEAS: Login to save this article or follow this journal

Los efectos de la política de liberalización del comercio exterior en el Perú durante el período 1990–1994


Author Info

  • Jorge Vega

    (Pontificia Universidad Católica del Perú - Departamento de economía)

Registered author(s):


    Peru experienced radical economic policy changes during the first half of the decade of 1990. An analysis of these new economic policies, especially those related to foreign trade are presented in this article. Between 1990 and 1994, the Peruvian government eliminated price controls and exchange rate restrictions; measures were given to promote national and foreign private investment; state monopolies to import goods were suppressed; import prohibitions were phased out; most import tariffs were drastically reduced; a much more uniform tariff structure was imposed, and export subsidies were eliminated. Local import substituting activities that used to be highly protected before the reform were forced to adapt to the new open market conditions, with smaller effective rates of protection. Many of them closed down business, but others were able to stabilize and continued growing, although they had to invest in new equipment and had to reduce their sale prices in the internal market, which benefited consumers. Overall, total GDP as well as manufacturing GDP both grew up during the period. There was not any industrial collapse that some analysts predicted to happen. Employment level in the manufacturing sector contracted, but labor productivity picked up. Imports increased faster than exports, thus generating serious balance of trade deficits that were financed by capital inflows. Trade openness did no eliminate the prevailing anti export bias, but this bias certainly was reduced, and a basis for the future development of new exporting sectors was established. Initially, tariff reduction caused fiscal revenue losses, but they were compensated later on by the increase in import volumes.

    Download Info

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
    File URL:
    Download Restriction: no

    Bibliographic Info

    Article provided by Departamento de Economía - Pontificia Universidad Católica del Perú in its journal Revista Economía.

    Volume (Year): (2007)
    Issue (Month): 59-60 ()
    Pages: 97-168

    as in new window
    Handle: RePEc:pcp:pucrev:y:2007:i:59-60:p:97-168

    Contact details of provider:
    Postal: Av. Universitaria 1801, San Miguel, Lima, Perú
    Phone: (511) 626-2000 ext. 4950, 4951
    Fax: (511) 626-2874
    Web page:
    More information through EDIRC

    Related research

    Keywords: Foreign trade; effective rates of protection; tariff structure; trade policy; liberalization; openness;


    No references listed on IDEAS
    You can help add them by filling out this form.



    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.


    Access and download statistics


    When requesting a correction, please mention this item's handle: RePEc:pcp:pucrev:y:2007:i:59-60:p:97-168. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Stephan Gruber).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.