Variables determinantes en el crecimiento económico del Ecuador: función cobb-douglass 2007- 2019.

Abstract

A bibliographic review of the determinants of economic growth is carried out in this work and estimates are reported for the case of the Ecuadorian economy, which has been characterized by unstable economic development measured by its growth rate in the period under study. The sample selected for the analysis includes 18 years that involve two presidential terms, the longest one is from 2007 to 2017, called the Citizen Revolution, and the following 2018-2019 that breaks with the economic policy assumed in the mentioned period. The used methodology allows the construction of an econometric model using the expanded Cobb-Douglas production function, a function fed with data from official sources in Ecuador, whose objective is to measure the influence of variables such as gross fixed capital formation, labor force, exports and imports on economic growth, it is widely reviewed in the literature on economic growth. The results coincide with recent studies by Samakhavets & Hrechyshkina that estimate the importance of exports for economic growth and their relationship with the gross fixed capital formation that they require together with the labor force, understanding that investments, made in non-traditional export sectors in the last five years, have been a source of analysis rich in information related to the external sector of Ecuador.