Oil booms, production transformation chimeras, and the return of Washington. An assessment of the Ecuadorian economy over fifty years (1970-2020)

Booms petroleros, quimeras de transformación productiva y el retorno de Washington. Balance de un medio siglo de economía ecuatoriana (1970-2020)

Pablo Cardoso and Henry Chavez ()
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Pablo Cardoso: Universidad de las Artes
Henry Chavez: CEPED - UMR_D 196 - Centre population et développement - IRD - Institut de Recherche pour le Développement - UPCité - Université Paris Cité

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Abstract: The economic and political stability of Latin American countries keeps pace with international commodity prices. In Ecuador, the last fifty years have been ruled by oil prices. A historical study of this period suggests the existence of a certain regularity in the Ecuadorian economic trajectory, with at least two boom and recession cycles. This paper analyzes the parallels and differences between these cycles, putting them into perspective. To this purpose, a systematic comparison of economic and social indicators, the political situation, and the ideological and geopolitical context was carried out. The article concludes by highlighting the limits of transformation projects during booms and of adjustment programs during recessions.

Keywords: business cycle; oil boom; production transformation; debt; crisis; Ecuador; ciclo económico; boom petrolero; deuda; transformación productiva; cycle économique; boom pétrolier; transformation de la production; dette; crise; Équateur (search for similar items in EconPapers)
Date: 2023-04-06
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Published in Revue internationale des études du développement, 2023, 251, pp.203-233. ⟨10.4000/ried.8179⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-04142370

DOI: 10.4000/ried.8179

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