Innovation for Productivity Growth in Ecuador : Unlocking Constraints through Horizontal and Cluster Development Policies

Over the last decade, Ecuador experienced inclusive growth fueled by a favorable external environment that financed a vast expansion of the public sector. The country is now facing severe external and fiscal challenges due to the significant extend...

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Main Authors:	Rubalcaba Bermejo, Luis, Slavova, Stefka, Kim, Maria Deborah, Merino De Lucas, Fernando, Franco-Temple, Ernesto, Victor, Jessica Michelle
Format:	Report
Language:	English en_US
Published:	World Bank, Washington, DC 2017
Subjects:	INNOVATION BUSINESS ENVIRONMENT FIRM PRODUCTIVITY CLUSTERS
Online Access:	http://documents.worldbank.org/curated/en/566831501610771111/Innovation-for-productivity-growth-in-Ecuador-unlocking-constraints-through-horizontal-and-cluster-development-policies http://hdl.handle.net/10986/28295

id	okr-10986-28295
recordtype	oai_dc
spelling	okr-10986-282952021-05-25T09:03:16Z Innovation for Productivity Growth in Ecuador : Unlocking Constraints through Horizontal and Cluster Development Policies Rubalcaba Bermejo, Luis Slavova, Stefka Kim, Maria Deborah Merino De Lucas, Fernando Franco-Temple, Ernesto Victor, Jessica Michelle INNOVATION BUSINESS ENVIRONMENT FIRM PRODUCTIVITY CLUSTERS Over the last decade, Ecuador experienced inclusive growth fueled by a favorable external environment that financed a vast expansion of the public sector. The country is now facing severe external and fiscal challenges due to the significant extended fall in oil prices and the appreciation of the U.S. dollar. Since mid-2014, Ecuador has lost almost half of its merchandise export income due to the decline in oil prices. Oil revenues averaged 13.2 percent of GDP between 2011 and 2014 and one-third of total fiscal revenues. The fall in oil and other commodity prices on global markets has opened broad macroeconomic imbalances and exposed Ecuador's pre-existing vulnerabilities. As a fully dollarized economy with limited savings from the boom years, Ecuador cannot soften adjustment via a nominal depreciation or a drawdown of macroeconomic buffers. The strengthening of the U.S. dollar and the major currency depreciations in neighboring trading partners also place pressures on external competitiveness. Furthermore, access to foreign borrowing has become more limited. Consequently, the burden of the adjustment falls on fiscal and income policies. 2017-09-11T20:23:53Z 2017-09-11T20:23:53Z 2017-06-13 Report http://documents.worldbank.org/curated/en/566831501610771111/Innovation-for-productivity-growth-in-Ecuador-unlocking-constraints-through-horizontal-and-cluster-development-policies http://hdl.handle.net/10986/28295 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work :: General Economy, Macroeconomics, and Growth Study Economic & Sector Work Latin America & Caribbean Ecuador
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	INNOVATION BUSINESS ENVIRONMENT FIRM PRODUCTIVITY CLUSTERS
spellingShingle	INNOVATION BUSINESS ENVIRONMENT FIRM PRODUCTIVITY CLUSTERS Rubalcaba Bermejo, Luis Slavova, Stefka Kim, Maria Deborah Merino De Lucas, Fernando Franco-Temple, Ernesto Victor, Jessica Michelle Innovation for Productivity Growth in Ecuador : Unlocking Constraints through Horizontal and Cluster Development Policies
geographic_facet	Latin America & Caribbean Ecuador
description	Over the last decade, Ecuador experienced inclusive growth fueled by a favorable external environment that financed a vast expansion of the public sector. The country is now facing severe external and fiscal challenges due to the significant extended fall in oil prices and the appreciation of the U.S. dollar. Since mid-2014, Ecuador has lost almost half of its merchandise export income due to the decline in oil prices. Oil revenues averaged 13.2 percent of GDP between 2011 and 2014 and one-third of total fiscal revenues. The fall in oil and other commodity prices on global markets has opened broad macroeconomic imbalances and exposed Ecuador's pre-existing vulnerabilities. As a fully dollarized economy with limited savings from the boom years, Ecuador cannot soften adjustment via a nominal depreciation or a drawdown of macroeconomic buffers. The strengthening of the U.S. dollar and the major currency depreciations in neighboring trading partners also place pressures on external competitiveness. Furthermore, access to foreign borrowing has become more limited. Consequently, the burden of the adjustment falls on fiscal and income policies.
format	Report
author	Rubalcaba Bermejo, Luis Slavova, Stefka Kim, Maria Deborah Merino De Lucas, Fernando Franco-Temple, Ernesto Victor, Jessica Michelle
author_facet	Rubalcaba Bermejo, Luis Slavova, Stefka Kim, Maria Deborah Merino De Lucas, Fernando Franco-Temple, Ernesto Victor, Jessica Michelle
author_sort	Rubalcaba Bermejo, Luis
title	Innovation for Productivity Growth in Ecuador : Unlocking Constraints through Horizontal and Cluster Development Policies
title_short	Innovation for Productivity Growth in Ecuador : Unlocking Constraints through Horizontal and Cluster Development Policies
title_full	Innovation for Productivity Growth in Ecuador : Unlocking Constraints through Horizontal and Cluster Development Policies
title_fullStr	Innovation for Productivity Growth in Ecuador : Unlocking Constraints through Horizontal and Cluster Development Policies
title_full_unstemmed	Innovation for Productivity Growth in Ecuador : Unlocking Constraints through Horizontal and Cluster Development Policies
title_sort	innovation for productivity growth in ecuador : unlocking constraints through horizontal and cluster development policies
publisher	World Bank, Washington, DC
publishDate	2017
url	http://documents.worldbank.org/curated/en/566831501610771111/Innovation-for-productivity-growth-in-Ecuador-unlocking-constraints-through-horizontal-and-cluster-development-policies http://hdl.handle.net/10986/28295
_version_	1764466424413159424

Innovation for Productivity Growth in Ecuador : Unlocking Constraints through Horizontal and Cluster Development Policies

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