Crecimiento Económico y Sector Externo en la Economía Ecuatoriana

Economic Growth and the External Sector in Ecuador’s Economy

Diego Ochoa Jiménez
Authors registered in the RePEc Author Service: Diego Ochoa-Jiménez

MPRA Paper from University Library of Munich, Germany

Abstract: This 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.

Keywords: Ecuador; restricción de la balanza de pagos; Ley de Thirlwall; crecimiento económico (search for similar items in EconPapers)
JEL-codes: C32 F31 F4 (search for similar items in EconPapers)
Date: 2010
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