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Peru

In: Introduction to Quality Growth

Author

Listed:
  • Masayuki Eguchi

Abstract

Peru is a geographically diverse country rich in mineral and fishery resources. Since transitioning to civilian rule in 1975 and overcoming the 1980s debt crisis, Peru has maintained strong economic growth, supported by consistent poverty reduction programs starting with the Fujimori administration. These efforts have led to the lowest inequality levels among Pacific Alliance countries, though regional disparities and a large informal sector persist. Economic resilience improved through fiscal reforms, debt reduction, and the creation of stabilization mechanisms. These measures helped Peru weather global crises and commodity price declines. Financial system stability was further enhanced by de-dollarization. Despite limited structural changes since 1975, commodities remain the backbone of the economy and exports, showing resilience to international price fluctuations. Productivity has improved modestly, but challenges remain in infrastructure, formalizing the informal sector, and investing in R&D and human capital. Peru’s growth reflects three key aspects of quality growth: (1) poverty reduction amid resource-driven growth, with ongoing regional disparities; (2) strengthened macroeconomic resilience through fiscal reforms; and (3) the need for informal sector reforms to ensure sustainable and inclusive growth. Future priorities include disaster preparedness for events like El Niño and earthquakes.

Suggested Citation

  • Masayuki Eguchi, 2026. "Peru," Springer Books, in: Koki Hirota (ed.), Introduction to Quality Growth, chapter 0, pages 367-383, Springer.
    • Handle: RePEc:spr:sprchp:978-981-95-6220-6_12
    DOI: 10.1007/978-981-95-6220-6_12
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