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Corresponding Author:
Cindy Tutiven Desintonio, National Autonomous University of Mexico (UNAM), Ciudad de México

Coauthors:
Washington Jesús Quintero Montaño, Autonomous Metropolitan University of Mexico (UAM) and Faculty of Economic Sciences of the University of Guayaquil (UG)

Recent Performance of the Ecuadorian Economy in a Context of High Uncertainty: An Analysis of Economic Growth, Poverty, and Unemployment

Volume 77 - Latin American Economies : Complex Past and Challenging Future - Part I, February 2024
(pp. 151-176)
JEL classification: E24; I32; O47; O54
Keywords: Ecuador; Economic Growth; Poverty; Unemployment; COVID-19

Abstract

This study assesses the recent performance of the Ecuadorian economy, focusing on economic growth, poverty, and unemployment within a context of heightened uncertainty exacerbated by international crises and national policies. It highlights an initial period of significant socioeconomic advancement, with reductions in poverty and inequality levels as a result of progressive policies and increased social spending. However, since 2017, fiscal austerity measures and flexibilization of the labor market have reversed these gains, exacerbating vulnerability to the COVID-19 crisis. The labor market exhibits high informality and rising unemployment, reflecting the diminished labor protection and employment quality. As Ecuador is a dollarized economy reliant on primary exports, it faces structural challenges limiting its response to external imbalances. This work underscores how shifts in economic policy have influenced the reversal of previous achievements, pointing out the importance of coherent economic and social policies in managing future crises and fostering equitable growth.


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Institute for International Economics
of the Genoa Chamber of Commerce


Istituto di Economia Internazionale
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