Los Determinant factors of the Ecuadorian economic growth, 1950-2019 Determinant factors of the Ecuadorian economic growth, 1950-2019

Abstract

This paper studies the factors driving the Ecuadorian economic growth through the analysis of three stages of structural changes (1950-1972, 1973-1999, 2000-2017) experimented by the Ecuadorian economy. We perform a statistical growth accounting decomposition to quantify the relative importance of the different factors explaining output growth: inputs accumulation (extensive growth) and technological progress (intensive growth). The results obtained confirm the importance that the accumulation in physical capital and employment had played in explaining per capita output growth during the last decades, whereas the contribution of total factor productivity has been more modest.