chapter  2
38 Pages

Growth and Reform

WithAlfred H. Saulniers

This chapter summarizes description of Peru's portfolio growth fills an important gap in the public enterprise literature, since official or non-official sources rarely thoroughly describe such a process. For Peru, E. V. K. FitzGerald provides the best description, but he skims company creation and restructuring, glossing over the enriching detail. The chapter discusses some of the interlocked trends in Peru's post-1968 portfolio expansion by stressing "what" happened and "why" it occurred. It describes the process as internally defined by Peruvian government officials who formulated policy agendas aimed at attaining specific goals. The chapter provides the standard conclusions about post-1968 portfolio growth that rest on the analysis of the few largest companies, instead of more complete information. It presents many errors that arise because both official and non-official sources have misread and misinterpreted the historical record. In the Manifesto and Statutes of the military government reform-minded officers communicated their intent to shake the Peruvian state to its foundations.