Abstract

OLEAS MONTALVO, Julio. Ecuador 1980-1990: Crisis, Adjustment, and Change of Development Regime. Am. Lat. Hist. Econ [online]. 2017, vol.24, n.1, pp.210-242. ISSN 2007-3496.  https://doi.org/10.18232/alhe.v24i1.724.

In the 1980s ended industrialization managed by the State, began the so called market reforms, and changed public management. This adaptive change towards the economic regime promoted by the emerging neoconservative social doctrine was fostered by presidents Oswaldo Hurtado (1981-1984), León Febres Cordero (1984-1988, Rodrigo Borja (1988-1992), and the IMF influence in the Country. The Central Bank’s annual reports and the proposals to the IMF are analyzed, as well as other primary sources. The Ecuadorian GDP grew 2.4 per cent annual average, while population grew 2.6 per cent. The Central Bank take the place of the Junta Nacional de Planificación in order to manage the crisis, and money devaluation became the main tool of economic policy.

Keywords : Dutch disease; petroleum industry; import substitution industrialization.