Peru's economy has swung through two strong cycles since the early 1970s that broke a long record of price stability. The starting point was an internal demand-led expansion in the early 1970s that broke a long record of price stability.
During this first cycle, inflation rose from about 10 per cent per year to between 60 and 70 per cent and the economy suffered a severe recession during 1977-78.
The second cycle was even more violent. Output first stagnated during 1980-82 and the fell 16 per cent over 15 months. Inflation followed a step pattern: after running steady for five years along a 60 to 70 per cent plateau, it doubled suddenly to 120 per cent in early 1983, and doubled again to about 250 per cent in early 1985.
Stabilization and adjustment policies and programmes
World Institute for Development Economics Research WIDER
United Nations University, Marzo de 1987
Richard Webb
Documento completo (archivo PDF 2,047 Kb)
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During this first cycle, inflation rose from about 10 per cent per year to between 60 and 70 per cent and the economy suffered a severe recession during 1977-78.
The second cycle was even more violent. Output first stagnated during 1980-82 and the fell 16 per cent over 15 months. Inflation followed a step pattern: after running steady for five years along a 60 to 70 per cent plateau, it doubled suddenly to 120 per cent in early 1983, and doubled again to about 250 per cent in early 1985.
Stabilization and adjustment policies and programmes
World Institute for Development Economics Research WIDER
United Nations University, Marzo de 1987
Richard Webb
Documento completo (archivo PDF 2,047 Kb)
Descargar PDF
