Crecimiento Económico y Sector Externo en la Economía Ecuatoriana
[Economic Growth and the External Sector in Ecuador’s Economy]
AbstractThis article explains the balance of payments constraint imposed on Ecuador's economic growth during the period 1970 – 2007. By using the Thirlwall’s model (1979), a modification is made, stating that the real exchange rate (RER) should not be considered constant in the long term due to the negative impact of the Marshall-Lerner condition on the balance of the trade balance. Through an econometric study, a cointegration vector between GDP, exports and RER is determined. This is a valid adjustment to explain the balance of payments constraint on economic growth.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 40422.
Date of creation: 2010
Date of revision:
Ecuador; restricción de la balanza de pagos; Ley de Thirlwall; crecimiento económico;
Find related papers by JEL classification:
- C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
- F4 - International Economics - - Macroeconomic Aspects of International Trade and Finance
- F31 - International Economics - - International Finance - - - Foreign Exchange
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