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The Dr. Ricardo Hausmann brilliant expert at Harvard University and Chief of the IDB receives two books of Dr. Arnold Encomendero during the 2013 Forum QUO VADIS.
 
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Phd Alejandro Werner expert of the Fund money International (IMF) receives a
book
on the part of its author
Dr. Arnold Encomendero D.
 
 
 
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By: Dr. Arnold Encomendero Dávalos
www.arnoldencomendero.com

Dr. Ricardo Hausmann, one of the brightest minds of this century, and main lecturer in the QUO VADIS PERU 2013, held in Lima, on Tuesday April 16, this year, was emphatic in the Analysis on the Situation and Perspectives of Trade and Investment in Peru, giving us the following recommendations:

Even though Peru has a good economic growth level, this achievement has not been taken for granted.

Peru has done better than the G-20 countries with a very prudent and formal policy. Nevertheless, little diversification has been done. Productive diversification focused on industrialization is the key in the case of eventual changes in commodity prices.

Lima, at having 30% of Peruvian population, must have more global and productive activities, since there are currently few globally competitive activities generating jobs to be finally paid by consumers worldwide.

The key of competitiveness is productivity and this depends on the capacity to integrate plenty of people into the production chain, and in an urban space as Lima, this task becomes complex.



These just four specific recommendations given by Dr. Hausmann make us recall the famous poetic message from César Vallejo, i.e.,: “Brothers, there are lot of things to do”. The important is to start with a Peruvianness AGENDA, giving priority to the TECHNICIAN instead of the political, but with an economic base. Therefore, to jointly apply the THREE “I”: Institutionalism, Infrastructure and Innovation, is essential for growth and inclusive economic development. To this end, we need a State able to optimally dynamize the three closely related E: Efficiency, Efficacy and Equality. Thus, although Peruvian economy is one of those that growths more in the Americas, in a healthy and balanced way; it is necessary to enhance Competitiveness based on a challenging and qualified improvement of Productivity at all levels. This needs to meet Basic Requirements recommended WEF on its Competitiveness Report 2012-2013; that is: to have public institutions encouraging private endeavors; to reach and maintain a macroeconomy free from inflation and volatility; to count with a healthy and well-educated labor force; and to develop infrastructure for transportation and communication enabling to access to markets and domestic and foreign information. Do not forget that according to the IGC-2012-2013 Latin America Competitiveness Ranking, Peru ranked 61st, Chile ranked 33rd and Panama ranked 40th.
The aim is not to compare to, but in 2012, Chile’s per capita income was 18,354 dollars, and Peru’s was 10,679; however, South Korea doubled Chile. In Conclusion, the four recommendations given by Dr. Ricardo Hausmann in QUO VADIS PERU 2013, together with WEF Competitiveness Requirements, are the main challenges for Peru and Latin-American countries in order that inclusive development becomes a State’s policy guarantying the rule of Law, property, universal transparent information, giving a framework guidelines on global and sector policies, giving number ONE priority to social investment in nutrition, health and education, and in this line, to guide and enable the development of basic infrastructure through a Public-Private Strategic Alliance, always preserving the environment with policies and actions agreed with several parties and all economic and social agents to provide urban and rural security, as well as, to fight against corruption from a transparent and responsible justice administration. In regard to, Dr. Alejandro Werner, International Monetary Fund (IMF) expert, strongly expressed that: “Peru’s most important challenge is to KNOWN how to manage the times of prosperity to avoid bubbles and the increase of balances through indebtedness”. “Economies in the region and in Peru have to be prepared to go from a primary sector of economy towards an industry-based economy.
 
An infrastructure development agenda, to improve education levels, and to put emphasis on the social policy to upgrade population’s quality of life, are a must. Improving these factors means to improve the country’s economy and productivity”. On the other hand, Dr. César Peñaranda stated “the importance of human capital for economic growth with equality and inclusion; therefore, the necessary stability must be kept and an agenda for productivity-competitiveness growth must be established”. On his turn, Dr. Luis Miguel Castilla, Minister of Economy and Finance, during the closing of the conference QUO VADIS PERU 2013, pointed out: “I consider it is important to keep the house neat at the economic level, that the engine of Peru’s growth is and will be PRIVATE INVESTMENT, and that the proper task of the government is to reform the HEALTH Sector and to fight against labor informality”.
 
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Considering these specific pieces of advice, we recognize that the CHALLENGES are huge. Nevertheless, we also known that Peruvians’ and Latin-Americans’ capacities for action and reaction is transcendent due to the crisis experienced and overcome. That is why the Global Financial Crisis is a new acid test and it has to be faced with sense of forecast and boldness. In regard to, THE ECONOMIST newspaper pinpoints the following real challenge: “Peru’s current major issues are: dollar DROPPING, credit boom, education and political fragility”. But, as any problem embodies the seed of its own solution, the opportunity is favorable to bring out our experience and capacity of personal endeavor and within an innovation-driven culture. Within this context of reflection, it is worth remembering the CONTRIBUTION given by Edmund Phelps, 2006 Nobel Prize in Economics, in his own words: “a country’s dynamism is not only measured by the growth rate from a short to medium term of maturity. The level of dynamism is related to the country’s fertility to generate innovating ideas…” and with all authority he indicated: “Dynamic economies fostering an entrepreneur spirit produce tangible benefits and opportunities that many people associate to the GOOD LIFE, and that prosperity is backed up by dynamism, and dynamism depends on institutions”. The truth is what it is; the lessons from QUO VADIS may not be dismissed.