| Description |
1 online resource (69 pages) |
| Series |
IMF country report, 2227-8907 ; no. 14/22 |
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IMF country report ; no. 14/22.
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| Contents |
Cover; CONTENTS; PERU: FISCAL FRAMEWORK ALTERNATIVES FOR A RESOURCE RICH COUNTRY; A. Introduction; B. Analytical Considerations to Resource Management; C. Natural Resources and Fiscal Framework in Peru; TABLES; 1. Reserves of Major Minerals, 2011; 2. Resource Dependency; FIGURES; 1. Investment in Natural Resources Sector; 3. Investment in Metal Minerals Industry; 2. Mining Revenue and Investment; 4. Doing Business in Selected Latin American Countries; D. Fiscal Framework and Recent Changes; E. Alternative Fiscal Balance Targets and Sustainable Investment Approach; BOX |
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Simulating Alternative PIH-based Fiscal Rules3. Fiscal Sustainability Frameworks; 4. Alternative PIH-Based Fiscal Rules; 5. Projected Outcomes with the Different Structural Primary Balance Targets with Price Rule 5/1/5; 6. Fiscal Balances; ANNEX; Annex. Peru: The New Framework for Fiscal Policy in RRDCs; References; RESISTING THE PRESSURES FROM CAPITAL FLOWS: ARE FOREIGN EXCHANGE INTERVENTIONS EFFECTIVE?; A. Overview; B. Capital Flows and Policy Reactions; FIGURES; 1. Capital Flows, 4-quarter MA; 2. Capital Flows, Exchange Rate, and Foreign Exchange Intervention |
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3. Capital Flows and FX Pressure IndexBOXES; 1. Coping with Capital Flows; C. Methodology; 2. Constructing an FX Pressure Index; D. Data and Estimation Results; 4. Exchange Rates and FX Intervention; 5. Characterization FX Purchases by BCRP: January 2010-November 2013; 6. Characterization FX Sales by BCRP: January 2010-November 2013; TABLES; 1. Probit Regression Results for the Probability of FX Intervention; E. Concluding Remarks; 2. Estimated Impacts of FX Intervention on the Level and Volatility of the Exchange Rate; ANNEXES |
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I. Single Equation Regression of the Central Bank's Reaction FunctionANNEX TABLES; 1. Multinomial Logistic Regression of FX Intervention; II. The Exchange Rate Target Estimated By Six Months Moving Average Exchange Rate; IIa. Probit Regression Results for the Probability of FX Intervention; IIb. Estimated Impacts of FX Intervention on the Level and Volatility of the Exchange Rate; III. The Exchange Rate Target Estimated By One YearAverage Rolling HP Filtered Exchange Rate; IIIa. Probit Regression Results for the Probability of FX Intervention |
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IIIb. Estimated Impacts of FX Intervention on the Level and Volatility of the Exchange RateIV. Tolerable Range Defined As 1-Year Historical Average Rate ±1.5 Times Standard Deviation; IVa. Probit Regression Results for the Probability of FX Intervention; IVb. Estimated Impacts of FX Intervention on the Level and Volatility of the Exchange Rate; References; CHINA'S SPILLOVERS TO PERU: INSIGHTS FROM A MACROECONOMIC MODEL FOR A SMALL OPEN AND PARTIALLY DOLLARIZED ECONOMY; A. Introduction; B. Stylized Facts; C.A Macroeconomic Model for a Small Open and Partially Dollarized Economy |
| Summary |
This Selected Issues paper examines application of fiscal framework alternatives to the case of Peru. Although growth has been at historical highs over the last decade, Peru still has an important infrastructure gap and a quarter of its population still lives in poverty. This paper applies illustratively new modified frameworks recently developed by the IMF to the case of Peru. It takes stock of analytical considerations to resource management, and analyzes Peru's natural resource wealth and the investment climate. The paper also presents results from simulating alternative Permanent Income Hypothesis (PIH) based approaches and expenditure smoothing fiscal rules |
| Notes |
Title from PDF title page (IMF Web site, viewed February 3, 2014) |
|
"Prepared by: Fei Han [and others]"--Page 2 of pdf |
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"January 24, 2014." |
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"January 8, 2014"--Page 2 of pdf |
| Bibliography |
Includes bibliographical references |
| Subject |
International Monetary Fund -- Peru
|
| SUBJECT |
International Monetary Fund fast |
| Subject |
Fiscal policy -- Peru
|
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Natural resources -- Peru
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Capital movements -- Peru
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Capital movements
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Fiscal policy
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International economic relations
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Natural resources
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| SUBJECT |
China -- Foreign economic relations -- Peru
|
| Subject |
China
|
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Peru
|
| Form |
Electronic book
|
| Author |
Fei, Han.
|
|
International Monetary Fund.
|
| ISBN |
9781484395349 |
|
1484395344 |
|
1475563582 |
|
9781475563580 |
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