Análisis de la incidencia de las tasas de interés y del volumen de crédito en el crecimiento económico de los sectores productivos del Ecuador periodo 2002-2015.

Abstract

The present research seeks to analyze the relationship between interest rates and the volume of credit in the economic growth of Ecuador, since as a consequence of the financial crisis of 1999 the State adopted the dollar as local currency in January of 2000, losing an important tool of monetary policy. The objective of this research is to demonstrate that there is an important relationship between these variables and that knowing their effects is essential for the moment of formulating public policies and making business decisions. For this reason, both theoretical and empirical information on the relationship of these variables is collected, as well as the evolution of the variables after the dollarization, in order to have a complete context on this subject in Ecuador. For the analysis, the econometric methodology of vector autoregressive models (VAR) was used for the advantages offered by this system of simultaneous equations to apply the impulse - response functions and observe how the variables under study behave when faced with any variation of the others. variables that make up the system. The results obtained showed that there is a clear relationship between credit and economic growth, having an almost immediate effect on it, in addition; Control over interest rates can be used as an indirect instrument of monetary policy that helps to stimulate credit and economic growth.