Abstract

PAVON ABALCO, Mishell Geoconda. The Unitary System of Regional Payments Compensation as a generating mechanism of monetary autonomy in Ecuador. E&c [online]. 2019, vol.2, n.9, pp.247-268. ISSN 2477-9245.  https://doi.org/10.37228/estado_comunes.v2.n9.2019.128.

Ecuador has been dollarized since 2000. A stab to the sovereignty, autonomy and development of its people. However, the Unitary System of Regional Payments Compensation (SUCRE) was created in 2008, within the framework of the New Regional Financial Architecture (NAFR); the SUCRE has the objective of the progressive decoupling of the dependence of the dollar as an international currency among its member countries, in the case of Ecuador, the SUCRE would help mitigate its dependence also as a national currency, this is the working hypothesis. Thus, this article aims to analyze the scope of SUCRE as a mechanism that generates monetary autonomy for the dollarized economy of Ecuador, through the saving of this currency in trade within SUCRE. The methodology adopted is a bibliographic review and analysis of quantitative data on Ecuador's participation published by SUCRE and the Central Bank of Ecuador since 2010-2017. The result found is that the saving of dollars is negligible, 0.01% of the total of its global imports, but it is concluded that this mechanism has strong potential for the generation of monetary autonomy if it is strengthened. This study is limited for the case of Ecuador given the dollarization of its economy.

Keywords : Dollarization; Ecuador; monetary autonomy; solidarity integration; SUCRE; NAFR; coin..

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