(Pontificia Universidad Católica del Perú, 2021-12-26) de la Cruz Flores, Martha Sofía; Camino Escudero, Mayra M.
The aim of this article focuses on analyzing the impact of trade liberalization, human capital, private credit, and variables related to work and specialization on income inequality in Peru during the period from 1997 to 2019. A multiple linear regression model based on the multiple least squares (OLS) methodology is applied, using time series data that mathematizes the relationship between these variables and income inequality, considering the specialization of the labor supply. The relation between the independent variables, human capital and trade openness, and the dependent variable, the Gini, was verified by measuring inequality in the final model. It is important to mention that the effects of historical events that affected the market in 2007, 2011 and 2019 have been considered. The debate about the true impact of economic openness on income inequality has been present throughout history. Therefore, the relevance of this work lies in finding practical explanations in a scenario of deep political and economic instability. We seek to find one of the causes of the income inequality that has been present in Peru for decades. Since a significant reduction has not been seen, it is necessary to demonstrate what type of effect globalization has –during the last two decades– in the fight against income inequality in Peruvian society. The results obtained show that, in this case, trade liberalization does have a positive impact on reducing income inequality. Likewise, inconclusive results are found regarding the nature of the specialization and training of human capital in an environment of economic openness. In these, contradictory behaviors are observed with economic theory and empirical studies.
