Macroeconomic aspects of a petroleum boom: Ecuador, 1972-1980

Thesis/Dissertation · Thu Jan 01 04:00:00 EST 1987

OSTI ID:6931344

de la Torre, A P

This dissertation analyzes Ecuador's macroeconomic experience during the period of petroleum bonanza (1972-1980). The first chapter describes salient adjustments to a booming-sector phenomenon in the context of a formal, two-sector model of a small open economy, adapted to the stylized facts of the Ecuadorean case. The remainder of the dissertation is a historical case study that reviews actual macroeconomic developments and policies in Ecuador. The review of Ecuador's experience is organized as follows. Chapter 2 analyzes the adjustments in income, absorption, and the current account to the oil boom. Chapter 3 examines the monetary implications of the sudden influx of foreign exchange and the nature of the policy responses to it. Chapter 4 turns to the fiscal and credit areas, focusing on how the boom gave rise to, on the one hand, a significant increase in the State's allocative and developmental roles and, on the other, a relaxation of domestic resource-mobilization efforts. Chapter 5 emphasizes the distinction between exposed (or traded) and sheltered (or nontraded) sectors in order to clarify the nature of the linkages between the oil boom, the real exchange-rate appreciation, and the observed pattern of change in sectoral output and employment during the 1970s.

• Research Organization: Notre Dame Univ., IN (USA)
• OSTI ID: 6931344
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020700* -- Petroleum-- Economics
Industrial
& Business Aspects
29 ENERGY PLANNING, POLICY, AND ECONOMY
290200 -- Energy Planning & Policy-- Economics & Sociology
294002 -- Energy Planning & Policy-- Petroleum
DEVELOPING COUNTRIES
ECONOMIC IMPACT
ECONOMY
ECUADOR
EMPLOYMENT
INCOME
INDUSTRY
LATIN AMERICA
PETROLEUM INDUSTRY
SOUTH AMERICA