Towards a Demand Model to Reduce Accumulation: Evidence from Ecuador

Marcelo Varela-Enriquez
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Marcelo Varela-Enriquez: Institute of Higher National Studies-IAEN, The State Postgraduate University

Review of Socio - Economic Perspectives, 2024, vol. 9, issue 2, 38-64

Abstract: The present work analyzes the theoretical differences in the understanding of macroeconomics, starting from confronting the supply approach (neoclassical-neoliberal) with the demand approach (Keynesian-Post-Keynesian-Kaleckian) that allows generating a demand model to confront accumulation. and neoliberalism for the Ecuadorian case. In this sense, the objective of the research will be to determine the theoretical conditions of a demand model with a comparison of economic and social results compared to the application of free market or free competition economic policies, carried out in Ecuador in the period 2000 - 2023. The methodology used is a descriptive analysis based on variables and relationships between variables that allows determining the accumulation process, and the application of two economic models in Ecuador in the dollarization period (2000-2023): The first model economic, neoclassical-neoliberal applied in the periods 2000-2006 and 2018-2023, and the second model applied in the period 2007-2017. The results show the existing relationships between variables that determine a greater or lesser distribution under different accumulation conditions, added to theoretical conditions analyzed. Given these results, a Kaleckian demand model is proposed to address these disparities that have occurred in Ecuador.

Keywords: Demand Model; Neoliberalism; Accumulation; Ecuador. (search for similar items in EconPapers)
JEL-codes: A1 B5 D3 E (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:aly:journl:202346

DOI: 10.19275/RSEP189

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