Multi-dimensional Review of Peru

Volume 2. In-depth Analysis and Recommendations

image of Multi-dimensional Review of Peru

Peru has experienced significant improvements in economic growth, well-being and poverty reduction since the introduction of macroeconomic reforms, economic openness and more effective social programmes in the 1990s. However, the country still faces structural challenges to escape the middle-income trap and consolidate its emerging middle class. This report provides policy actions to tackle the main bottlenecks to boost inclusive development and well-being in Peru. In particular this report presents an in-depth analysis and policy recommendations to boost economic diversification and productivity, improve connectivity and reduce informality. Policy actions in these areas demand better institutions and improvements in areas and markets, including research and development and innovation, fiscal policy, education and skills, logistics and transport infrastructure as well as labour and product markets.



Overview: Charting Peru's way to a high-income economy with better well-being for all citizens

OECD Development Centre

Many factors play into Peru becoming a high-income country with an expanded and a consolidated middle-class. The changing external landscape – particularly the economic evolution of one of Peru’s largest export markets, China – has significant consequences for Peru’s traditional economy and for more inclusive development going forward. This chapter also summarises the value of the multi-dimensional review (MDCR) approach and methodology, leading to an overview of the three topics reviewed in this report, their results and the policy implications for more inclusive development in the country: productivity and economic diversification, transport connectivity, and informality. The chapter concludes with three future-state scenarios developed to consider the recommendations in light of major global trends that may affect development prospects for Peru.



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