Peruvian Economic Policy in the 1980s: from Orthodoxy to Heterodoxy and Back

Abstract

This paper examines the dramatic fluctuations in Peruvian macroeconomic policy in the 1980s. We trace the failure of “orthodox” or neoliberal policy in the first half of the decade to external shocks, economic inconsistencies, and the erosion of the state’s institutional and administrative capacities. These difficulties paved the way for the triumph of the… (More)

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