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Sectoral Policy Preferences of the Peruvian Government, 1946–1968

Published online by Cambridge University Press:  05 February 2009

Myron J. Frankman
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Extract

The economic policies that have been implemented in Peru since 1968 by the military government have been the object of considerable attention. By contrast, evaluation of Peruvian economic policy in the preceding two decades has received rather limited attention. It is our objective in this article to put into perspective the export bias of important elements of Peruvian economic policy in the period following World War II and to outline some of the consequences of that bias.

Type
Articles
Information
Journal of Latin American Studies , Volume 6 , Issue 2 , November 1974 , pp. 289 - 300
Copyright
Copyright © Cambridge University Press 1974

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References

1 For a review of a number of books dealing with Peruvian policy since 1968, see Colin, Harding, ‘Peru: Questions of Revolution’, Latin American Review of Books, No. 1 (Spring, 1973), 185–90.Google Scholar

2 Erik Thorbecke and Apostolos Condos concluded, for example, that Peruvian private investment ‘is determined completely exogenously through the changes occurring in the export sector’. Thorbecke, & Condos, , ‘Macroeconomic Growth and Development Models of the Peruvian Economy,’ Irma, Adelman and Erik, Thorbecke, eds., The Theory and Design of Economic Development (Baltimore, The Johns Hopkins Press, 1966), pp. 189–90.Google Scholar

3 Markos, Mamalakis, ‘The Theory of Sectoral Clashes,’ Latin American Research Review, IV (Fall, 1969), 9–46,Google Scholar and Mamalakis, , ‘The Theory of Sectoral Clashes and Coalitions Revisited,’ Latin American Research Review, VI (Fall, 1973), 89–126.Google Scholar

4 The value of the contribution of agriculture and forestry to real gross national product grew at an annual average compound rate of 2.8 per cent; population, at a rate of 2.6 per cent.

5 Coffey, J. S., ‘Income Elasticities for Peru – A Preliminary Analysis’ (Lima: University of North Carolina Mission, c. 1965).Google Scholar

6 Banco Central de Reserva del Perú, Cuentas nacionales del Perú 1950–1965 (Lima, 1966), pp. 54–55.Google Scholar

7 Mamalakis, , ‘The Theory…’ (1969), pp. 10–17.Google Scholar

8 The legislative record of the period is contained in Jorge, Eugenio Castañeda, Control de cambios (Lima, Casa Nacional de Moneda, 1949).Google Scholar

9 Bustamante, José L.Rivero, , Tres años de lucha por la democracia en el Perú (Buenos Aires, 1949), pp. 235–36.Google Scholar

10 Frankman, Myron J., Export Promotion and Developmental Priorities in Peru, 1946–1965 (Austin, University of Texas Ph.D. disserration, 1968), pp. 192–93. The principal exchange rate was pegged following appreciation in October 1954 and in October 1959. In both instances increases in Central Bank official reserves preceded and followed the fixing of the value of the exchange rare.Google Scholar

11 Banco, Central, Boletin, various issues.Google Scholar

12 Banco Central, Cuentas…, p. 26Google Scholar and ibid., 1960–1969 (Lima, 1970), p. 12.

13 ibid., 1950–1965, p. 55.

14 ibid., 1960–1969, p. 44.

15 Frankman, , op. cit., pp. 105–107.Google Scholar

16 Banco de Fomento Agropecuario del Perú, Memoria, various issues.

17 This was exceeded during the 1967–68 drought when the volume of cotton production and exports fell markedly.

18 Bustamante, y Rivero, p. 194.Google Scholar

19 International Bank for Reconstruction and Development and United Nations Food and Agriculture Organization, The Agricultural Development of Peru. I. General Report (Washington, 01 1959), p. 42.Google Scholar

20 Banco Central, Boletín, various issues.

21 ibid. and Banco de Fomento Agropecuario, Memoria, various issues.

22 Banco Central, Cuentas… 1950–1965, pp. 54–55.Google Scholar

23 Law 11357, 12 May, 1950.

24 Organization of American States and Inter-American Development Bank, Joint Tax Program, Sistemas triburarios de América Latina: Chile (Washington, Pan American Union, 1964), p. 35.Google Scholar

25 Law 14920, 27 Feb. 1964.

26 Law 15221, 16 Nov. 1964.

27 El Peruano (13 11 1954), p. 1.Google Scholar

28 Instituto Nacional de Planificación, Análisis de la realidad socio-económica del Perú. III. Análisis de los sectores económicos (A) (Lima, 07 1963), pp. v–72.Google Scholar

29 Law 13270, 30 Nov. 1959.

30 Banco Central, Cuentas… 1950–1967 (Lima, 1968), pp. 16, 44.Google Scholar

31 ibid., p. 34 and ibid., 1960–1969, p. 34.

32 ibid.

33 ibid., 1960–1969, p. 14.

34 Sociedad Nacional Agraria del Perú, Memoria 1963–1964 (Lima), p. 74.Google Scholar

35 Sociedad Nacional de Industrias, Memoria 1950 (Lima), p. 3.Google Scholar

36 Frankman, , op. cit., pp. 224–34.Google Scholar

37 Sociedad Nacional de Pesquería, ‘Comunicado’, La Prensa (Lima), 30 05, 1966, p. 3.Google Scholar

38 Sociedad Nacional de Pesquería, Memoria 1962–1963 (Lima), p. 7.Google Scholar

39 Peru had one of the highest growth rates of public external indebtedness in Latin America during the Belaúnde government. Inter-American Development Bank, Economic and Social Progress in Latin America, Annual Report 1972 (Washington, D.C.), p. 407.Google Scholar

40 The powerful National Agrarian Society, though a shadow of its former self after the 1969 Agrarian Reform Law, was legally abolished by the government in 1972.