The Peruvian mining boom and Dutch disease. Empirical evidence from 2003 to 2020.

Sánchez Dávila E. · Cuadernos de Economia (Colombia) (2026) · DOI: 10.15446/cuad.econ.v42n90.94529

Resumen

The aim of this paper is to verify whether Peru has suffered from Dutch disease. To do this, a VARX model with monthly data from 2003 to 2020 is used to analyze whether the mining boom prices of the 2000s and 2010s have had a negative impact on the real sector, especially on non-primary manufacturing. Results show that a real exchange rate shock explains 8.2% of the variation in non-primary manufacturing. Even though the effect is significant, it is relatively small, and this is due to the Peruvian Central Bank intervening to reduce exchange rate volatility. © (2026), (Universidad Nacional de Colombia). All rights reserved.

Instituciones: Universidad Peruana de Ciencias Aplicadas