Peru Building on Success

Peru’s recent robust growth has raised its economic prospects and has been broadly shared. The next step in development - high-income status - is challenging for all middle income countries and requires sustained growth. Raising productivity growth is key to sustaining Peru’s high growth rates of income per capita, including in the context of a less favorable external environment. This report looks at Peru’s principal challenges and opportunities to maintain strong and inclusive growth through higher productivity. It will require a reduction of inefficiencies by reaping more benefits from international trade and an improved innovation framework. The report has five parts. Part one analyzes the sources of Peru’s recent strong growth. Part two examines more closely the dynamics and challenges to Peruvian firms’ productivity growth. Part three analyzes elements that will increase the efficiency of Peru’s labor and capital resources - regulation, labor markets, and human capital. Part four is focused on further opportunities to reduce misallocation while at the same time speeding up within-firm productivity through expanding Peru’s technological possibilities, particularly through innovation and the spillovers from international trade. Part five concludes.

Bibliographic Details

Main Author:	World Bank
Format:	Report biblioteca
Language:	English en_US
Published:	Washington, DC 2015
Subjects:	NATIONAL OUTPUT, ECONOMIC GROWTH, GROWTH—POLICY, PRODUCTION, LAGS, SUNK COSTS, STRUCTURAL CHANGE, INCOME, INTEREST, EXPECTATIONS, TRADE BARRIERS, INTEREST RATE, REAL GDP, PROPERTY RIGHTS, ELASTICITY OF DEMAND, GDP PER CAPITA, MACROECONOMIC POLICY, LIQUIDITY, EXPORTS, ELASTICITY, POLITICAL ECONOMY, ECONOMIC STRUCTURE, FISCAL POLICY, GROSS VALUE, INCENTIVES, VARIABLES, REAL INCOME, INPUTS, RETURNS TO SCALE, PAYMENTS, INFLATION, REGIONAL PRODUCTIVITY, DRIVERS, CENTRAL BANK, DEVELOPMENT, MACROECONOMIC STABILITY, PER CAPITA INCOMES, LABOR MARKET, INFLUENCE, TOTAL FACTOR PRODUCTIVITY, SAVINGS, COSTS, PER CAPITA INCOME, DEVELOPMENT ECONOMICS, EXPORT GROWTH, TELECOMMUNICATIONS, CONSTANT RETURNS TO SCALE, FIXED COSTS, EXCHANGE RATES, PRODUCTIVITY, FAILURES, MONOPOLY, CRITERIA, BARRIERS TO ENTRY, DEBT, MARKETS, LABOR MARKET ISSUES, DIRECT VALUE, INCOME LEVELS, TRADE POLICY, STANDARDS, LABOR, BASKET OF GOODS, UTILITY, NATURAL RESOURCES, AVERAGING, GROSS DOMESTIC PRODUCT, FINANCE, TRADE POLICIES, ECONOMIC RESEARCH, MACROECONOMIC STABILIZATION, TAXES, UNEMPLOYMENT, DEREGULATION, PRODUCTIVITY GROWTH, CONSUMPTION, HUMAN CAPITAL, VALUE ADDED, ECONOMIC PERFORMANCE, CAPITAL, WAGES, ANTI-COMPETITIVE PRACTICES, POLICIES, ECONOMIC OUTCOMES, INTERNATIONAL TRADE, COMPETITION POLICY, VALUE, COMPETITIVENESS, CREDIT, ECONOMIC SECTORS, COMPARATIVE ADVANTAGES, DEMAND, ECONOMY, AGRICULTURE, TARIFF BARRIERS, GROWTH MODELS, MEASUREMENT, TRADE LIBERALIZATION, PRODUCTION FUNCTION, REGULATORY REGIMES, REGRESSION ANALYSIS, TAXATION, TRADE, REGULATORY POLICY, FOREIGN COMPETITION, GDP, GOODS, THEORY, SECURITY, ECONOMIES OF SCALE, BANK LOANS, COMPARATIVE ANALYSIS, GROWTH RATE, INVESTMENT, EXTREME POVERTY, MONOPOLIES, COMPETITIVE ADVANTAGE, SUPPLY, DISCIPLINE, PRODUCT MARKETS, DECENTRALIZATION, GINI COEFFICIENT, INNOVATION, BANKING SUPERVISION, GDP DEFLATOR, PRICE CONTROLS, FINANCIAL SECTOR, OUTCOMES, MIDDLE INCOME COUNTRIES, PRICES, BENEFITS, COMPETITION,
Online Access:	http://documents.worldbank.org/curated/en/2015/10/25122535/peru-building-success-boosting-productivity-faster-growth https://hdl.handle.net/10986/22984
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