Ecuador : Diversification and Sustainable Growth in an Oil - Dependent Country
Diversification is important to sustainable economic growth and economic development in an oil-dependent country like Ecuador because it allows the country to be less vulnerable to external shocks. An analysis of diversification in the Ecuadorian e...
| Main Author: | |
|---|---|
| Format: | Policy Note |
| Language: | English en_US |
| Published: |
Washington, DC
2014
|
| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2010/03/16288377/ecuador-diversification-sustainable-growth-oil-dependent-country http://hdl.handle.net/10986/18503 |
| Summary: | Diversification is important to
sustainable economic growth and economic development in an
oil-dependent country like Ecuador because it allows the
country to be less vulnerable to external shocks. An
analysis of diversification in the Ecuadorian economy is
needed at this time because (a) the growth has been sluggish
despite favorable terms of trade in recent years, and (b)
external and fiscal balances are highly vulnerable to shocks
in oil prices. This study focuses on the general concept of
diversification, including diversification of public
revenues, trading partners, and production. It seeks to
understand the linkages between the oil and non-oil sectors
and offer recommendations on how Ecuador could frame public
policy to achieve diversification. |
|---|