Microcredit and Economic Growth in Ecuador from 2013 to 2023

Datos Bibliográficos

ID19577348
AutoresMauricio Rivera P (Universidad Nacional de Chimborazo), Mauricio Rivera P Mauricio Rivera P, Karina Álvarez B Karina Álvarez B, Karina Álvarez B (Universidad Nacional de Chimborazo), Willman Carrillo P Willman Carrillo P, Diego Logroño L Diego Logroño L, Diego Logroño L (Universidad Nacional de Chimborazo), Patricio Juelas C (Universidad Nacional de Chimborazo), Patricio Juelas C Patricio Juelas C, Julio Araujo Carneiro D (Universidad Nacional de Chimborazo), Javier Saavedra D Javier Saavedra D
Año2024
Páginas351-368
Fecha de publicación2024-09-05
Peer ReviewedSí
Open AccessSí
TipoARTICLE
RevistaEvolutionary Studies in Imaginative Culture (JOURNAL)
Identificadores de la revistaISSN: 2472-9876 • E-ISSN: 2472-9884
EditorialRaiya Academic International LLC (PUBLISHER)
DOI10.70082/esiculture.vi.886
OpenAlexW4402390072
IdiomaEN

Microcredit has emerged as an effective instrument for achieving financial inclusion, stimulating productive activities, and with this support, reinforcing economic growth. This study aims to examine the characteristics of microcredit financing in Ecuador and to quantify its impact on economic growth. The study employs quarterly data from 2013 to 2023. An Error Correction (VEC) model was utilized to ascertain the short- and long-term effects of microcredit and investment on GDP. The findings indicate that microcredit and investment do not exert a significant short-term influence on GDP. However, in the long term, a 1% change in investment is associated with a 0.11% positive impact on GDP. Similarly, a 1% shift in microcredit is linked to a 1.17% favorable effect on GDP. Ultimately, there is a unidirectional causal relationship between GDP and microcredit

Development economics · Economic growth · Economic system · Economics · Microfinance · Natural resource economics · COVID-19 Pandemic Impacts · Microfinance and Financial Inclusion · Taxation and Compliance Studies