Peruvian Miracle: Good Luck or Good Policies?
AbstractThe Peruvian economy has had an extraordinary performance in the last 10 years. The 2012 per capita GDP is 66 percent over 2002 and more than double its 1992 level. In a long term perspective, the cumulative growth of GDP per capita recorded in the last 10 years has been the strongest since 1900. This is the "Peruvian miracle". This paper aims to find the determinants of Peruvian miracle. In theory, countries' macroeconomic performance can be determined by two factors: i) the “good (bad) luck effect” that is related to the international context, which can be favorable or unfavorable, and ii) the “good (bad) policies effects", associated with short-term macroeconomic policies or structural reforms, which are policies that alter the current development model. The hypothesis of this work is that the Peruvian miracle of the last 10 years has much to do with good luck and, in part, with good short-term macroeconomic policies. JEL Classification-JEL: F36, F41, F42 and F43
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Bibliographic InfoPaper provided by Departamento de Economía - Pontificia Universidad Católica del Perú in its series Documentos de Trabajo with number 2013-371.
Length: 71 pages
Date of creation: 2013
Date of revision:
Publication status: published
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Phone: (511) 626-2000 ext. 4950, 4951
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Web page: http://departamento.pucp.edu.pe/economia/
More information through EDIRC
Macroeconomic performance; international context; Latin America and Peru.;
Find related papers by JEL classification:
- F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
- F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
- F42 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Policy Coordination and Transmission
- F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
This paper has been announced in the following NEP Reports:
- NEP-ALL-2014-04-18 (All new papers)
- NEP-LAM-2014-04-18 (Central & South America)
- NEP-MAC-2014-04-18 (Macroeconomics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Oscar Dancourt & Waldo Mendoza, 2009. "Choque externo y respuestas de política macroeconómica," Capítulos de libros PUCP, in: Oscar Dancourt & Félix Jiménez (ed.), Crisis internacional. Impactos y respuestas de política económica en el Perú., edition 1, chapter 2, pages 59-88 Departamento de Economía - Pontificia Universidad Católica del Perú.
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