Stabilization strategies: Peru

Rüdiger Dornbusch

Brazilian Journal of Political Economy, 1991, vol. 11, issue 1, 15-28

Abstract: Written just before the new president of Peru, Alberto Fujimori, takes the position,this article incorporates the necessity of banish the populism and take emergencialmeasures together with long-run measures in order to obtain an effective stabilization of theeconomy. It emphasizes what could be considered consensus among the economists fromcountries that have experienced chronic inflation: equilibrium of budget deficit, shock therapy,necessity of income policy. It is concluded that in spite of the costs of an adjustment to bedone, the less privileged classes will suffer much less than in continuous inflationary context. JEL Classification: O43; E60; E31.

Keywords: Stabilization; political economy; Peru (search for similar items in EconPapers)
Date: 1991
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