Efectividad de las Políticas Regulatorias (2007-2024) para el Desarrollo del Mercado Accionario en Ecuador: Un Análisis desde la Política Pública

Abstract

Abstract: This research evaluates the effectiveness of the regulatory policies implemented between 2007 and 2024 to develop the Ecuadorian stock market. Despite these reforms occurring under two opposing political-economic paradigms, the market has remained chronically underdeveloped. From a public policy perspective, the study argues that this failure stems not from the ideology of the reforms, but from the persistence of institutional barriers and an inadequate design of incentives for key players. Through a mixed-methods analysis combining quantitative data and a qualitative study of the laws, the research provides a diagnosis that transcends the purely technical and financial aspects to explain the problem from its political and institutional roots. The results seek to offer empirical evidence for the formulation of more effective regulations, capable of overcoming regulatory capture and strengthening the capital market as an engine for inclusive economic development and the democratization of capital in Ecuador.