Regional Financial Competitiveness in Peru: A Review of Key Factors in Metropolitan Lima, Arequipa, and Trujillo
DOI:
https://doi.org/10.5281/zenodo.17981792Keywords:
regional financial competitiveness, sub-national financial development, access gaps, financial governance, regional convergenceAbstract
This paper uses a narrative review to examine the drivers of regional financial competitiveness in Peru, comparing Lima Metropolitan Area, Arequipa and Trujillo (2000-2023). Drawing on 87 sources, a synthetic index is built that integrates depth, inclusion, efficiency, stability and financial innovation. Results show Lima leads through banking agglomeration and regulatory externalities; Arequipa excels in local governance and lower portfolio volatility; Trujillo grows rapidly driven by digital banking and agro-export niches. Findings are framed within economic geography theory, and policy proposals include a regional convergence fund, harmonised collateral registries, fintech sandboxes and decentralised supervision. The study concludes that financial convergence is attainable through differentiated policies that leverage local comparative advantages.
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