Moisés Arce, The Sustainability of Economic Reform in a Most Likely Case: Peru

Peru under Fujimori was a most likely candidate to deepen economic reforms because it had a dominant chief executive with a lengthy tenure, a rubber stamp legislature, and close collaboration between business and government. Nevertheless, its record of reform was mixed. Social interests play an important role in such market transitions. The move from crisis-induced reforms to the consolidation of reform is affected by shifting governing coalitions and changes in the interactions between state and business. The dominance of different groups across different phases of the economic restructuring process helps account for the slowdown of the market agenda.

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