Fluctuaciones económicas y shocks externos, Perú 1950-1996

Oscar Dancourt (), Waldo Mendoza and Leopoldo Vilcapoma

No 1997-135, Documentos de Trabajo / Working Papers from Departamento de Economía - Pontificia Universidad Católica del Perú

Abstract: The main goal of this paper is to describe the characteristics of business cycle in Peru during 1950-1996, and to show the importance of external shocks for these economic fluctuations. The pattern of economic fluctuations in Peru, in particular the pattern of recessions, seems to be independent of the growth strategy followed (ISI or export of raw materials). The periods of recession are periods of accelerating inflation and of balance of payments crises. Five out of six of the identified recessions are associated with adverse external shocks.

Pages: 38 pages
Date: 1997
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Journal Article: Fluctuaciones económicas y shocks externos, Perú 1950-1996 (1997)
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