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Towards a Demand Model to Reduce Accumulation: Evidence from Ecuador

Author

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  • Marcelo Varela-Enriquez

    (Institute of Higher National Studies-IAEN, The State Postgraduate University)

Abstract

The present work analyzes the theoretical differences in the understanding of macroeconomics, starting from confronting the supply approach (neoclassical-neoliberal) with the demand approach (Keynesian-Post-Keynesian-Kaleckian) that allows generating a demand model to confront accumulation. and neoliberalism for the Ecuadorian case. In this sense, the objective of the research will be to determine the theoretical conditions of a demand model with a comparison of economic and social results compared to the application of free market or free competition economic policies, carried out in Ecuador in the period 2000 - 2023. The methodology used is a descriptive analysis based on variables and relationships between variables that allows determining the accumulation process, and the application of two economic models in Ecuador in the dollarization period (2000-2023): The first model economic, neoclassical-neoliberal applied in the periods 2000-2006 and 2018-2023, and the second model applied in the period 2007-2017. The results show the existing relationships between variables that determine a greater or lesser distribution under different accumulation conditions, added to theoretical conditions analyzed. Given these results, a Kaleckian demand model is proposed to address these disparities that have occurred in Ecuador.

Suggested Citation

  • Marcelo Varela-Enriquez, "undated". "Towards a Demand Model to Reduce Accumulation: Evidence from Ecuador," Review of Socio - Economic Perspectives 202346, Reviewsep.
    • Handle: RePEc:aly:journl:202346
    DOI: https://doi.org/10.19275/RSEP189
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    More about this item

    Keywords

    Demand Model; Neoliberalism; Accumulation; Ecuador.;
    All these keywords.

    JEL classification:

    • A1 - General Economics and Teaching - - General Economics
    • B5 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches
    • D3 - Microeconomics - - Distribution
    • E - Macroeconomics and Monetary Economics

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