Efectos de la política fiscal en el crecimiento económico ecuatoriano durante el periodo 2000-2017: aproximación mediante modelos SVAR

Abstract

In 2000, Ecuador suffered one of the biggest economic changes of its history, since it changed its currency from Sucre to the US dollar. In this way, Ecuador not only lost the ability to generate exchange rate policy, but also the ability to generate monetary policy, leaving fiscal policy as an important tool of economic policy. Thus, the present work analyzes the effects of fiscal policy on Ecuadorian economic growth during the period 2000-2017, through the estimation of structural autoregressive vector (SVARs), models using government spending and taxes a measure of fiscal policy. The results affirm that an increase in government spending boost Ecuadorian economy activity in the short term, while an increase in taxes seems to have no effect on the Ecuadorian economy activity.