This study aims to assess the social efficiency of microfinance institutions (MFIs) —regulated and non-regulated— in Peru. Social efficiency is referred to the capacity of MFIs to produce more social outputs —number of poor clients and women served— without using more resources. The Data...

The main purpose of this paper is to evaluate empirically the economic relation between Lima and some departments of the country by estimating the effect of shocks affecting Lima's growth over the rates of growth of the remaining departments. We do not pretend to describe the mechanisms of...

In recent years we are observing a process of strengthening of private property rights and an increasing role for contracts in economic relations. The rising importance of the contract in contrast to that of law implies the privatization of power relations, the growing marginality of the...

This paper explores some of the reasons that may help explain why the microfinance sectors in Peru and in Mexico have developed so differently. Whereas in Peru, this sector is characterized by financially sustainable institutions operating in a competitive environment with an efficient...

Using a matched firm-worker dataset, we show both theoretically and empirically that positive assortative matching between firms and workers leads to an underestimation of the absolute value of wage elasticity of labor demand.

Using a matched firm-worker dataset, we show both theoretically and empirically that positive assortative matching between firms and workers leads to an underestimation of the absolute value of wage elasticity of labor demand.

To assess the employment effects of labor costs it is crucial to have reliable estimates of the labor cost elasticity of labor demand. Using a matched firm-worker dataset, we estimate a long run unconditional labor demand function, exploiting information on workers to correct for endogeneity in...

The main objective of this research is to identify the variables that affect the Peruvian Microfinance Institutions' (MFI) delinquency. The relative irnportance of three kinds of variables is analyzed. First, aggregate or macroeconomic variables related to Peruvian economic activity (GDP,in...