Ecuador Systematic Country Diagnostic
During the last fifteen years, Ecuador’s economic growth translated into impressive social gains. Yet, structural vulnerabilities emerged during this period and remained hidden by favorable external conditions during the commodity boom. The plunge...
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| Format: | Report |
| Language: | English |
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World Bank, Washington, DC
2018
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| Online Access: | http://documents.worldbank.org/curated/en/835601530818848154/Ecuador-Systematic-Country-Diagnostic http://hdl.handle.net/10986/30052 |
| Summary: | During the last fifteen years, Ecuador’s
economic growth translated into impressive social gains.
Yet, structural vulnerabilities emerged during this period
and remained hidden by favorable external conditions during
the commodity boom. The plunge in oil prices unveiled
deep-rooted challenges such as macroeconomic imbalances,
inefficiencies of the public sector, weak competitiveness,
and underinvested private sector. Going forward, these are
priority challenges to be addressed for continuing reducing
poverty and boosting shared prosperity in a sustainable
manner. This SCD identifies the foundations of the
sustainable and inclusive growth process through a
prioritization of challenges and opportunities. Three key
elements must be in place for such growth process to take
place, which are the bases of the prioritization exercise:
(i) promoting macroeconomic sustainability; (ii) enabling an
efficient allocation of resources in the public and the
private sectors, and (iii) protecting the poor and the
vulnerable. Challenges and opportunities -grouped in four
pillars- are identified as priorities if they contribute
significantly to at least one of the above elements and do
not undermine the others. Another element considered in
this prioritization exercise is whether the identified
challenges or opportunities are expected to be addressed in
the short (ST), medium (MT) or long term (LT). The analysis
also evaluated the possible timeframe under which actions
are implemented toward tackling the identified difficulty or
achieving the identified goal. It also conveys a sense of
urgency in implementing such actions. The timeframe
considers the short term as being approximately within one
year, the medium term as within four to five years, and the
long term as more than five years. |
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