Abstract

MINUCHE ARMIJOS, Alba Lissette; SALCEDO MUNOZ, Virgilio Eduardo  and  APOLO VIVANCO, Nervo Jonpiere. Contribution of productive factors and total factor productivity in the growth of Ecuador (1990-2019). Revista San Gregorio [online]. 2021, vol.1, n.47, pp.30-47. ISSN 2528-7907.  https://doi.org/10.36097/rsan.v1i47.1712.

Economic growth represents one of the most important macroeconomic objectives of a country. This article aims to describe the contributions provided by productive factors, labor and capital, together with Total Factor Productivity (TFP) in the growth observed in the Ecuadorian economy in the period 1990-2019. The methodology used is based on the economic growth accounting approach through the factorial decomposition of the economy. As a result, it was obtained that the main sources of the growth of the Gross Domestic Product (GDP) in Ecuador in the analyzed period are due: 31% to work, 68% to capital and 1% to TFP. This fact allows us to appreciate that Ecuador needs to increase its productivity levels to accelerate economic growth, both at the aggregate level and in per capita terms, therefore, it must move to a context in which the effort is focused on how to increase access to better technologies or how to be more efficient simply with the productive factors available. The relevance of the findings lies in the knowledge of the factors that reflect the slow average growth exhibited by the country.

Keywords : Economic growth; Ecuador; growth Accounting; productive factors; total Factor Productivity.

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