Abstract
Oil is Ecuador's main export product and its financial income an important part of the General State Budget. Being Ecuador a country dependent on crude oil is the reason why this investigation is carried out. For this purpose, an investigation with a quantitative approach was used, with a descriptive and explanatory scope strengthened in the Solow model, for which an econometric model with time series data was estimated using the Ordinary Least Squares (OLS) method. The results show that oil barrel exports have a positive effect on economic growth. Likewise, it is concluded that oil imports, the price of oil, will have a greater dynamism in economic growth, since there is a strong causality with the aforementioned variables.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.