Análisis del impacto de las remesas sobre el crecimiento económico ecuatoriano, periodo 2001- 2019.

Abstract

At the end of the 1990s, Ecuador witnessed an increase in its migratory flow. The economic crisis of that decade affected the middle and lower classes, jobs became scarce and many Ecuadorians were forced to look for work abroad. Consequently, the remittances received increased and occupied an important place in the balance of payments: until 2013 they were the second most important item, surpassing shrimp exports; and banana and plantain. Thus, this research analyzes the effect of remittances on economic growth through consumption and investment during the period 2001-2019 using a structural vector autoregressive (SVAR) model. The results show, among other aspects, that (i) remittances have a positive effect on final household consumption, (ii) Ecuadorian migrants maintain an altruistic sentiment when sending remittances.