Peru Building on Success : Boosting Productivity for Faster Growth
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...
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| Format: | Report |
| Language: | English en_US |
| Published: |
Washington, DC
2015
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| Online Access: | http://documents.worldbank.org/curated/en/2015/10/25122535/peru-building-success-boosting-productivity-faster-growth http://hdl.handle.net/10986/22984 |
| Summary: | 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. |
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