Determinantes del crecimiento económico del Ecuador bajo la Ley de Thirlwall

Thirlwall (1979) argues that the development of a country depends of the rest of the world´s dynamics and the degree of imports openness, which implies that the growth is limited by the current account of the balance of payments. The aim of this study is to estimate the Thirlwall´s affirmation for the ecuadorian economy during the period 1972-2008, that is verified with the methods of cointegration and causality of temporal series, in which is demonstrated that the growth restricted by the balance of payments is nearly to the observed growth´s rate in the period above mentioned.