Peru: an incomplete market for agrarian financial services

• Autor: Wiener Fresco, Hugo Carlos
• Formato: artículo
• Fecha de Publicación: 2021
• Institución: Universidad Nacional Mayor de San Marcos
• Repositorio: Revistas - Universidad Nacional Mayor de San Marcos
• Lenguaje: español
• OAI Identifier: oai:ojs.csi.unmsm:article/20222
• Enlace del recurso: https://revistasinvestigacion.unmsm.edu.pe/index.php/econo/article/view/20222
• Nivel de acceso: acceso abierto
• Materia: market failures; failures of public choice; incomplete markets; financial services; fallos de mercado; fallos de la elección pública; mercados incompletos; servicios financieros

In Peru, the public agrarian bank arose from the hand of the agro-export landowners and it was to them that it dedicated its greatest efforts for 40 years. In the next two decades, this bank accompanied the beneficiaries of the radical agrarian reform of the 1970s, until it was liquidated in 1992. In the following ten years, the State had a marginal presence in agrarian credit without its absence being filled by the private financial system. With the new century, a new state bank was insisted, but without continuity in the policies, to date it painfully subsists. In all these years, the penetration of financial services in agriculture and rural areas has been very low. This persistence configures a market failure, an incomplete market that coexists with a highly concentrated bank, with its back to one of the most dynamic sectors of the economy.