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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.

English

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Towards higher economic diversification and productivity in Peru

OECD Development Centre

This chapter analyses and provides recommendations to boost economic diversification and productivity in Peru. An analysis of Peru’s recent performance in productivity and economic diversification indicates a marked need to boost both in order to achieve a more inclusive development. Several opportunities emerge based on potential new products to export and recent experiences in both successful economic diversification and the promotion of start-ups and entrepreneurship. The chapter identifies policy focuses needed to seize these opportunities, including further innovation; small and medium-sized enterprise (SME) sustainability and reduced barriers to entrepreneurship; and increased regional integration. Better management of commodity-based revenues at the sub-national level and improvements in the taxation system are also relevant to Peru’s development goals. The chapter concludes with recommendations for the institutional framework to improve the design and implementation of Peru’s strategic development agenda.

English

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