During the Peruvian economic crisis of the late 1980s, infant mortality significantly increased. This paper investigates the long-term consequences on health and education for infants who survived this period. Because no longitudinal data are available, the estimation of causal effects is performed combining the short-term and long-term impact of the crisis in a two-step procedure. Results indicate that the detrimental health conditions associated with an additional percentage point in infant mortality makes children who survived the crisis 2 percentage points more likely to suffer a chronic illness and 1.7 percentagepoints less likely to complete primary education by age 15. A partial identification approach suggests that the attenuation bias due to selection for survival is relatively small.