Incidencia de la deuda externa sobre el crecimiento económico en Ecuador en el período 2000 2021

Abstract

Abstract: External debt was identified as one of the most important sources of financing for developing countries. These resources make it possible to increase production capacity, theoretical approaches allow the argument that high levels of debt negatively affect economic growth in these countries. Ecuador has maintained a procyclical fiscal policy for the past two decades, increasing spending and debt in booms but failing to provide liquidity in times of crisis. Therefore, it is imperative to understand to what extent public debt affects Ecuador's economic growth between 2000 and 2021. To understand this phenomenon, an ordinary least squares econometric model is used, where the dependent variable is real GDP and the independent variable is the external debt. It was found that foreign debt has a positive effect on economic growth, and this study could help decision-making not only in Ecuador, but also in other countries through economic policies that allow better debt management, which which means higher economic growth.