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The Resource Peru : selected issues

Peru : selected issues

Label
Peru : selected issues
Title
Peru
Title remainder
selected issues
Contributor
Author
Publisher
Sponsor
Subject
Genre
Language
eng
Summary
  • This Selected Issues paper presents a comparative analysis of the macroeconomic adjustment in Chile, Colombia, and Peru to commodity terms-of-trade shocks. The study is done in two steps: (1) an analysis of the impulse responses of key macroeconomic variables to terms-of-trade shocks and (2) an event study of the adjustment to the recent decline in commodity prices. The experiences of these countries highlight the importance of flexible exchange rates to help with the adjustment to lower commodity prices, and staying vigilant in addressing depreciation pressures on inflation through tightening monetary policies. On the fiscal front, evidence shows that greater fiscal space, like that of Chile and Peru, gives more room for accommodating terms-of-trade shocks. -- With the end of the commodity super cycle, Peru's potential growth has declined, raising questions of what government policies could do to help boost growth, including over the medium term. This chapter shows that public investment multipliers have a larger effect on growth than current spending or tax-related stimulus in the short and medium terms. Peru's low debt and financial savings grants fiscal space for increasing investment spending, which could also entice and complement private investment, provided the former is efficient, fiscally sustainable and complemented by further reforms in public investment management and changes to the decentralization framework
  • High levels of dollarization may render corporations and individuals very exposed to exchange rate volatility. But, higher exchange rate volatility may reduce incentives of holding liabilities or assets in foreign currency, thus reducing overall dollarization in an economy and increasing the pass-through of monetary policy decisions to inflation and economic activity. This chapter studies the impact that higher volatility in the nominal bilateral exchange rate with respect to the U.S. dollar has on the speed of de-dollarization across a sample of 33 emerging market economies, spanning the period 1997-2015. It finds that, indeed, higher exchange rate volatility, after controlling for global and country-specific factors, speeds up de-dollarization. More exchange rate flexibility may be the last needed step to reduce dollarization in Peru to very low levels. -- International taxation issues have moved to the forefront of tax policy concerns, both in Peru and more globally, as aggressive cross-border tax planning by many multinational enterprises has given rise to significant public disquiet. The weaknesses of the international tax architecture need to be looked at carefully from the perspective of developing countries. This chapter examines some of Peru's more salient risks to base erosion and profit shifting--pricing of mining exports and intra-group debt servicing--pointing out strengths and vulnerabilities of the Peruvian tax system and recommending alternative approaches to address remaining challenges
Member of
Cataloging source
DJB
http://bibfra.me/vocab/lite/collectionName
IMF eLibrary
Government publication
international or intergovernmental publication
Illustrations
illustrations
Index
no index present
LC call number
HC59.15.I15
LC item number
No. 16/235 ONLINE
Literary form
non fiction
Nature of contents
  • dictionaries
  • bibliography
http://library.link/vocab/relatedWorkOrContributorName
  • Estevão, Marcello M.
  • Leal, Zulima
  • Roch, Francisco
  • Vtyurina, Svetlana
  • Everaert, G.
  • Schatan, R.
  • International Monetary Fund
  • International Monetary Fund
Series statement
IMF country report
Series volume
no. 16/235
http://library.link/vocab/subjectName
  • International Monetary Fund
  • International Monetary Fund
  • Commodity exchanges
  • Economic development
  • Fiscal policy
  • Foreign exchange rates
  • Dollarization
  • Taxation
  • Commodity exchanges
  • Dollarization
  • Economic development
  • Fiscal policy
  • Foreign exchange rates
  • Taxation
  • Peru
Label
Peru : selected issues
Instantiates
Publication
Copyright
Note
  • "July 2016."
  • "June 3, 2016; approved by Western Hemisphere Department; prepared by M. Estevão, Z. Leal, F. Roch, S. Vtyurina (all WHD), G. Everaert (SPR), and R. Schatan (FAD)"--Page 2 of pdf
Bibliography note
Includes bibliographical references
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
The adjustment to commodity price shocks in Chile, Colombia and Peru -- Fiscal multipliers and institutions in Peru: getting the largest bang for the sol -- The missing link? exchange rate volatility and de-dollarization in Peru -- Selected issues in international taxation
Control code
957670035
Extent
1 online resource (64 pages)
Form of item
online
Isbn
9781475582741
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other physical details
color illustrations
Specific material designation
remote
System control number
(OCoLC)957670035
Label
Peru : selected issues
Publication
Copyright
Note
  • "July 2016."
  • "June 3, 2016; approved by Western Hemisphere Department; prepared by M. Estevão, Z. Leal, F. Roch, S. Vtyurina (all WHD), G. Everaert (SPR), and R. Schatan (FAD)"--Page 2 of pdf
Bibliography note
Includes bibliographical references
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
The adjustment to commodity price shocks in Chile, Colombia and Peru -- Fiscal multipliers and institutions in Peru: getting the largest bang for the sol -- The missing link? exchange rate volatility and de-dollarization in Peru -- Selected issues in international taxation
Control code
957670035
Extent
1 online resource (64 pages)
Form of item
online
Isbn
9781475582741
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other physical details
color illustrations
Specific material designation
remote
System control number
(OCoLC)957670035

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