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Peru stands out among Latin American countries as an example of successful economic reforms over the past decade. This comprehensive look at Peru's economy traces that country's journey from a debt crisis in the 1980s to having buffers in place that allowed it to emerge unscathed from the global financial crisis. The book examines the steps Peru undertook to achieve these results and extracts lessons to be learned. Chapters are written by IMF staff and Peruvian economists.
As in most of the rest of Latin America, Peruvian economic strategy has gone in something of a circle, from long-established orientation toward an open economy with minimal state intervention to a period of state-led development, then back again to what looks like the starting point. In the 1960s, the Peruvian people had their first real chance to make a democratic choice between continuation of the country's open-economy orientation or change, & they chose change. Using this as his starting point, Sheahan explains how their choice was not provoked by any economic crisis but by other major influences. The majority of Peruvians, he shows, were seeking objectives more fundamental than economic growth. They were, with conflicting visions but with many good reasons, "searching for a better society." While positive accomplishments have been important, enough went wrong to lead Peru back to a more market-determined economic system in 1990. Sheahan addresses the consequences of this return to the earlier economic strategy & what might be done to shape the process of development-in Peru & in Latin America more generally-toward less unfair societies. Searching for a Better Society is different from the great majority of economic studies of developing countries in its emphasis on the basic role of social dissatisfaction with the country's traditional liberal economic system & on the complexity of social goals involved in evaluation of the choice & consequences of economic policies.
This book examines how some growing countries are experiencing economic development, while others are falling behind. It addresses the fundamental issues of development strategies by examining country-specific policies that have resulted in success or failure. The author focuses on Peru and makes comparisons with Chile and South Korea, exploring the question of why the latter two countries have been more successful, while Peru has lagged behind, despite bountiful natural resources and the potential to develop into a robust economy. The central question is to understand why some countries achieve economic development, while others face enormous challenges, and fail to do so.
This work analyses Peru's reforms, economic stabilisation programmes, institutional and economic structures, and the structural adjustment programme. It also looks at the role of the exchange rate in macroeconomic policy and some scenarios based on a model to forecast future economic trends.
Peru stands out among Latin American countries as an example of successful economic reforms over the past decade. This comprehensive look at Peru's economy traces that country's journey from a debt crisis in the 1980s to having buffers in place that allowed it to emerge unscathed from the global financial crisis. The book examines the steps Peru undertook to achieve these results and extracts lessons to be learned. Chapters are written by IMF staff and Peruvian economists.
Seventeen in a series of annual reports comparing business regulation in 190 economies, Doing Business 2020 measures aspects of regulation affecting 10 areas of everyday business activity.