Intersectoral Dynamics and Economic Growth in Ecuador
The authors analyze sectoral growth in Ecuador, using multivariate co-integration analysis. They find significant long-run relationships between the agricultural, industrial, and service sectors. Moreover, they are able to derive dynamic sector mod...
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| Format: | Policy Research Working Paper |
| Language: | English en_US |
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World Bank, Washington, DC
2014
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| Online Access: | http://documents.worldbank.org/curated/en/2001/01/888040/intersectoral-dynamics-economic-growth-ecuador http://hdl.handle.net/10986/19715 |
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okr-10986-197152021-04-23T14:03:44Z Intersectoral Dynamics and Economic Growth in Ecuador Fiess, Norbert M. Verner, Dorte AGRICULTURAL INTENSIFICATION AGRICULTURAL SECTOR AGRICULTURE AUTOCORRELATION CALCULATION CAPITAL FLOWS CAPITAL GOODS COINTEGRATION DATA ANALYSIS DATA SET DEBT DEVELOPING COUNTRIES DEVELOPMENT STRATEGIES DIRECT IMPACT DUAL ECONOMY ECONOMIC ANALYSES ECONOMIC ANALYSIS ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC INTEGRATION ECONOMIC POLICY ECONOMIC SECTORS EMPIRICAL ANALYSIS EMPIRICAL EVIDENCE EMPIRICAL GROWTH LITERATURE EMPIRICAL WORK ENDOGENOUS VARIABLES EQUATIONS EQUILIBRIUM EXPORT DIVERSIFICATION EXPORTS FINANCIAL SECTOR FINANCIAL SERVICES FISHING FOOD PROCESSING FUTURE RESEARCH GDP GRANGER CAUSALITY GROWTH EFFECT GROWTH EQUATION GROWTH MODEL GROWTH PROCESS GROWTH THEORY HYPOTHESES INCOME INCREASED DEMAND INDUSTRIAL SECTOR INTEREST RATES INTERMEDIATE GOODS KURTOSIS LONG RUN MACROECONOMIC INSTABILITY MANUFACTURING SECTOR MATRICES MATRIX MODEL SPECIFICATIONS MULTIVARIATE ANALYSIS NATURAL RESOURCES 0 HYPOTHESIS OIL OIL RESERVES OIL SECTOR OUTLIERS POLICY MAKERS POLICY RESEARCH PRODUCTIVITY PUBLIC SECTOR PUBLIC SERVICE PUBLIC SERVICES RANDOM ERRORS REAL GDP RELATIVE IMPORTANCE SERVICE SECTOR SHORT-RUN GROWTH SKEWNESS TIME SERIES VALUE ADDED WEALTH The authors analyze sectoral growth in Ecuador, using multivariate co-integration analysis. They find significant long-run relationships between the agricultural, industrial, and service sectors. Moreover, they are able to derive dynamic sector models that combine the short-run links between the three sectors with long-run dynamics. When disaggregate the three sectors into their intra-sectoral components, they discover many interesting relationships that contribute to a better understanding of inter- and intra-sectoral dynamics in the context of Ecuadorian economic growth. Their findings suggest that more attention should be paid to inter-dependencies in sectoral growth, since an improved understanding of inter-sectoral dynamics may facilitate the implementation of policy aimed at increasing economic growth in Ecuador. There appears to be no direct link between the oil sector, and the non-oil industrial sectors. But strong evidence supports co-integration between the oil industry, and financial services, as well as between the oil industry, and public services. This means, among other things, that the oil industry is likely to affect other sectors through the financial sector, the public sector, or both. 2014-08-26T20:06:45Z 2014-08-26T20:06:45Z 2001-01 http://documents.worldbank.org/curated/en/2001/01/888040/intersectoral-dynamics-economic-growth-ecuador http://hdl.handle.net/10986/19715 English en_US Policy Research Working Paper;No. 2514 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank, Washington, DC Publications & Research :: Policy Research Working Paper Publications & Research Latin America & Caribbean Ecuador |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
AGRICULTURAL INTENSIFICATION AGRICULTURAL SECTOR AGRICULTURE AUTOCORRELATION CALCULATION CAPITAL FLOWS CAPITAL GOODS COINTEGRATION DATA ANALYSIS DATA SET DEBT DEVELOPING COUNTRIES DEVELOPMENT STRATEGIES DIRECT IMPACT DUAL ECONOMY ECONOMIC ANALYSES ECONOMIC ANALYSIS ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC INTEGRATION ECONOMIC POLICY ECONOMIC SECTORS EMPIRICAL ANALYSIS EMPIRICAL EVIDENCE EMPIRICAL GROWTH LITERATURE EMPIRICAL WORK ENDOGENOUS VARIABLES EQUATIONS EQUILIBRIUM EXPORT DIVERSIFICATION EXPORTS FINANCIAL SECTOR FINANCIAL SERVICES FISHING FOOD PROCESSING FUTURE RESEARCH GDP GRANGER CAUSALITY GROWTH EFFECT GROWTH EQUATION GROWTH MODEL GROWTH PROCESS GROWTH THEORY HYPOTHESES INCOME INCREASED DEMAND INDUSTRIAL SECTOR INTEREST RATES INTERMEDIATE GOODS KURTOSIS LONG RUN MACROECONOMIC INSTABILITY MANUFACTURING SECTOR MATRICES MATRIX MODEL SPECIFICATIONS MULTIVARIATE ANALYSIS NATURAL RESOURCES 0 HYPOTHESIS OIL OIL RESERVES OIL SECTOR OUTLIERS POLICY MAKERS POLICY RESEARCH PRODUCTIVITY PUBLIC SECTOR PUBLIC SERVICE PUBLIC SERVICES RANDOM ERRORS REAL GDP RELATIVE IMPORTANCE SERVICE SECTOR SHORT-RUN GROWTH SKEWNESS TIME SERIES VALUE ADDED WEALTH |
| spellingShingle |
AGRICULTURAL INTENSIFICATION AGRICULTURAL SECTOR AGRICULTURE AUTOCORRELATION CALCULATION CAPITAL FLOWS CAPITAL GOODS COINTEGRATION DATA ANALYSIS DATA SET DEBT DEVELOPING COUNTRIES DEVELOPMENT STRATEGIES DIRECT IMPACT DUAL ECONOMY ECONOMIC ANALYSES ECONOMIC ANALYSIS ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC INTEGRATION ECONOMIC POLICY ECONOMIC SECTORS EMPIRICAL ANALYSIS EMPIRICAL EVIDENCE EMPIRICAL GROWTH LITERATURE EMPIRICAL WORK ENDOGENOUS VARIABLES EQUATIONS EQUILIBRIUM EXPORT DIVERSIFICATION EXPORTS FINANCIAL SECTOR FINANCIAL SERVICES FISHING FOOD PROCESSING FUTURE RESEARCH GDP GRANGER CAUSALITY GROWTH EFFECT GROWTH EQUATION GROWTH MODEL GROWTH PROCESS GROWTH THEORY HYPOTHESES INCOME INCREASED DEMAND INDUSTRIAL SECTOR INTEREST RATES INTERMEDIATE GOODS KURTOSIS LONG RUN MACROECONOMIC INSTABILITY MANUFACTURING SECTOR MATRICES MATRIX MODEL SPECIFICATIONS MULTIVARIATE ANALYSIS NATURAL RESOURCES 0 HYPOTHESIS OIL OIL RESERVES OIL SECTOR OUTLIERS POLICY MAKERS POLICY RESEARCH PRODUCTIVITY PUBLIC SECTOR PUBLIC SERVICE PUBLIC SERVICES RANDOM ERRORS REAL GDP RELATIVE IMPORTANCE SERVICE SECTOR SHORT-RUN GROWTH SKEWNESS TIME SERIES VALUE ADDED WEALTH Fiess, Norbert M. Verner, Dorte Intersectoral Dynamics and Economic Growth in Ecuador |
| geographic_facet |
Latin America & Caribbean Ecuador |
| relation |
Policy Research Working Paper;No. 2514 |
| description |
The authors analyze sectoral growth in
Ecuador, using multivariate co-integration analysis. They
find significant long-run relationships between the
agricultural, industrial, and service sectors. Moreover,
they are able to derive dynamic sector models that combine
the short-run links between the three sectors with long-run
dynamics. When disaggregate the three sectors into their
intra-sectoral components, they discover many interesting
relationships that contribute to a better understanding of
inter- and intra-sectoral dynamics in the context of
Ecuadorian economic growth. Their findings suggest that more
attention should be paid to inter-dependencies in sectoral
growth, since an improved understanding of inter-sectoral
dynamics may facilitate the implementation of policy aimed
at increasing economic growth in Ecuador. There appears to
be no direct link between the oil sector, and the non-oil
industrial sectors. But strong evidence supports
co-integration between the oil industry, and financial
services, as well as between the oil industry, and public
services. This means, among other things, that the oil
industry is likely to affect other sectors through the
financial sector, the public sector, or both. |
| format |
Publications & Research :: Policy Research Working Paper |
| author |
Fiess, Norbert M. Verner, Dorte |
| author_facet |
Fiess, Norbert M. Verner, Dorte |
| author_sort |
Fiess, Norbert M. |
| title |
Intersectoral Dynamics and Economic Growth in Ecuador |
| title_short |
Intersectoral Dynamics and Economic Growth in Ecuador |
| title_full |
Intersectoral Dynamics and Economic Growth in Ecuador |
| title_fullStr |
Intersectoral Dynamics and Economic Growth in Ecuador |
| title_full_unstemmed |
Intersectoral Dynamics and Economic Growth in Ecuador |
| title_sort |
intersectoral dynamics and economic growth in ecuador |
| publisher |
World Bank, Washington, DC |
| publishDate |
2014 |
| url |
http://documents.worldbank.org/curated/en/2001/01/888040/intersectoral-dynamics-economic-growth-ecuador http://hdl.handle.net/10986/19715 |
| _version_ |
1764440475482193920 |