Reflexión sobre la gestión de contingencias al utilizar los instrumentos financieros en el mercado ecuatoriano de commodities.

Abstract

The present thesis, entitled "reflection", because it deals with the obvious that happens in the world (need to manage commodities) from a technique (financial instruments), seeks to contribute with a valid concern in a small economy without monetary policy, highly dependent and positioned in sophisticated and volatile "commodity markets”, for that reason the question: How would national production of commodities be promoted using financial derivatives as a protection measure?. Diagnosing the commodity markets of Ecuador, the factors that influence the variation of prices were determined; identifying the different financial derivatives and finding the benefits that their implementation entails. Finally, the historical prices paid in the local markets were correlated with the international prices of the commodity, finding "margins" that expose unfavorably the domestic producers. With the data obtained, there is evidence of the need to find mechanisms that mitigate risk in companies, without local markets that exclusively negotiate the physical, because, in markets as volatile as commodities, they have to lose. There is no security in the price with which to negotiate the local market, since it is isolated from the markets that give the pattern of the business, therefore, the producers do not risk producing more, decreasing the growth of the country. The thesis validates the use of financial instruments for producers, who would cover their costs, financial expenses and ensure a reasonable profit with respect to their operations; In addition, it gives the country economic stability and its respective distributive effect.