Peru - Microeconomic Constraints to Growth: The Evidence from the Manufacturing Sector
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Washington, DC
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This study looks at the investment
climate in Peru using a unique database of manufacturing
firms. Through detailed analysis, it establishes four key
areas that pose constraints to investment and growth in Peru
and proposes solutions. The four main areas are: 1) an
uncertain legal and regulatory framework, 2) low level of
market integration and high logistics costs; 3) low levels
of investment and activity in innovation and technology
absorption and, 4) difficulties in accessing finance. The
main findings and the full set of policy recommendations
center on reducing uncertainty by more clearly articulating
the Government legislative agenda; continuing and
intensifying efforts to improve court processes;
facilitating the registration and operational regulation of
firms by further reducing red tape; reducing corruption
awarding public goods and services contracts through a
revision of public procurement at the central, regional and
municipal levels; increasing the focus on quality and
exports; and reforming moveable asset registries.
Palabras clave
AGRICULTURE, BARRIERS TO ENTRY, BIDDING, BUSINESS CASES, BUSINESS ENVIRONMENT, COLLABORATION, COMMODITY PRICES, COMPARATOR COUNTRIES, COMPETITION POLICIES, COMPETITIVENESS, CONTRACT ENFORCEABILITY, CONTRACT ENFORCEMENT, CORPORATION, CUSTOMS, DEBT, DEMOCRACY, DEVELOPMENT ASSISTANCE, DOMESTIC FINANCING, DOMESTIC MARKETS, E-GOVERNMENT, ECONOMIC COOPERATION, ECONOMIC GROWTH, ECONOMIC PERFORMANCE, ECONOMIC POLICIES, ELECTRICITY, EMPLOYMENT, ENGINEERS, ENTREPRENEURS, EVASION, EXCHANGE RATE, EXPORTS, EXTERNAL TRADE, FINANCIAL CRISIS, FINANCIAL MARKETS, FIRM SIZE, FIRMS, FOREIGN DIRECT INVESTMENT, FOREIGN INVESTMENT, FOREIGN TRADE, GDP, GLOBAL MARKETS, GOVERNMENT REGULATION, GROSS DOMESTIC PRODUCT, GROWTH PATH, GROWTH RATE, GROWTH RATES, HUMAN CAPITAL, IMPORTED GOODS, INCREASING COMPETITION, INDUSTRY ASSOCIATION, INEFFICIENCY, INFLATION, INTEGRATING COUNTRIES, INTEREST RATE, INTEREST RATES, INTERNAL TRADE, INTERNATIONAL MARKETS, INTERNATIONAL STANDARDS, INTERNATIONAL TRADE, INVESTMENT CLIMATE, INVESTMENT CLIMATES, KNOWLEDGE ECONOMY, LABOR COSTS, LABOR FORCE, LABOR MARKETS, LABOR REGULATIONS, LATIN AMERICAN, LESS DEVELOPED COUNTRIES, MACROECONOMIC STABILITY, MARKET ACCESS, MARKET INTEGRATION, MARKET SHARES, MATCHING GRANTS, MEDIUM ENTERPRISES, NATURAL RESOURCES, NET INFLOWS, POLITICAL PARTIES, PRIVATE FIRMS, PRIVATE INVESTMENT, PRIVATE SECTOR, PROGRAMS, PROPERTY RIGHTS, PUBLIC, PUBLIC GOODS, PUBLIC INFRASTRUCTURE, PUBLIC PROCUREMENT, PUBLIC PROCUREMENT CONTRACTS, PUBLIC SECTOR, REDUCING UNCERTAINTY, REFORM PROGRAM, REGULATORY FRAMEWORK, REGULATORY POLICY, RESEARCH AGENDAS, RESEARCH CENTERS, ROAD INFRASTRUCTURE, ROADS, SCIENTISTS, SMALL FIRMS, SOCIAL STABILITY, STRUCTURAL REFORMS, SUPPLIERS, TAX, TAX COLLECTION, TAX POLICIES, TECHNICAL PROGRESS, TECHNOLOGICAL CAPABILITIES, TECHNOLOGY TRANSFER, TELECOMMUNICATIONS, TOTAL FACTOR PRODUCTIVITY, TOTAL FACTOR PRODUCTIVITY GROWTH, TRADE NEGOTIATIONS, TRANSACTIONS COSTS, TRANSPARENCY, TRANSPORT COST, TRANSPORT COSTS, UNFAIR COMPETITION, VALUE ADDED, WAGES, WEALTH, WORLD ECONOMY