The governance of regulators in Peru

This chapter addresses the governance arrangements in force in Peru for regulatory agencies that have a degree of independency from the central government. The OECD Best Practice Principles for Regulatory Policy: The Governance of Regulators is employed as benchmark to assess elements such as role clarity, decision making and governing body structure for independent regulators, accountability and transparency, amongst others. It is found that economic regulators in Peru have a large degree of independence to exert budget and decision making, and that their practices on transparency and accountability are more advanced compared to obligations in the central government. Peru should consider strengthening the governance of economic regulators by reviewing their legal links with central government in order to enhance their decision making, upgrading current policies to make regulators more accountable to the central government, to Congress and to the general public, and introducing a system of ex ante impact assessment.