Global Advanced Research Journal of Management and Business Studies (GARJMBS) ISSN: 2315-5086 January 2013 Vol. 2(1), pp 022-036

Copyright © 2013 Global Advanced Research Journals   


Original Research Articles

Monetary Integration: Thirteen Years of Dollarization on Ecuadorian Economics, 2000-2013 

James Keeley1  and Adam Kess

1International Business and Financial Mathematics, ICP, Universidad Espiritu Santo (UEES), Guayaquil, Ecuador, SA.

2Financial Analyst, New York, USA.2Research assistant at the University of South Carolina. 

Corresponding author Email: 

Accepted 16 January2013



A considerable amount of research has been carried-out over the past decade regarding the effects of dollarization on an economy.   While only time will tell if dollarization continues to sustain positive long-term impacts, the short-term has provided considerable evidence of a very successful monetary integration. This research paper has analyzed the sustained effects of dollarization on the Ecuadorian economy which began in the year 2000.  As an additional variable, tourism and tourism rates were analyzed due to their reach into each of these sectors of the Ecuadorian economic system and as the fastest growing industry in Ecuador.  The Central Bank of Ecuador and related data sets reveal that dollarization has not only had a profoundly positive effect on Ecuadorian economics, but has decreased the poverty rates across the board for almost every province within the country.  Finally, this research also analyzes tourism rates measurable by visitors arriving over time based on a retroactive vacation package price in an attempt to determine whether dollarization and/or inflation played a role in the tourism industry.  A correlational regression determined that neither dollarization nor inflation play a significant role in the Ecuadorian tourism industry. Because tourism is a growing industry in Ecuador, this determination could have policy implications regarding local legislation, the career choice of tourism among students, and fiscal projection which ultimately will enhance the overall economic condition.  Based on the analysis of the variables presented in this research, thirteen years of dollarization has led to a stabilized economy, lower rates of inflation, and positive effects of GPD (trade) in this robust agriculture producing South American country. 

Keywords: Tourism, Ecuador, Currency, US Dollar, Economy, Inflation, dollarization, economics.

Related Articles

Original Research Article
Abdelateif. H. Ibrahim and Sayed Ali. Fadul Elmola Zareba
Determinants of Loan Utilization and Repayment Behaviour among Small Farmers in North Kordofan of Sudan
Glo. Adv. Res. J. Manage. Bus. Stud. September 2015 Vol: 4(9): - [Abstract] [Full Text - PDF] (362 KB)
Amaira Bouzid
Governance, financial liberalization and economic growth: Dynamic Panel data approach
Glo. Adv. Res. J. Manage. Bus. Stud. October 2012 Vol: 1(8): - [Abstract] [Full Text - PDF] (281 KB)
Alexandros M Goulielmos
Long-term forecasting of BFI using chaos cycle theory and maritime technical analysis
Glo. Adv. Res. J. Manage. Bus. Stud. December 2012 Vol: 1(7): - [Abstract] [Full Text - PDF] (2,459 KB)
Original Research Articles
Araya Mebrahtu Teka
Does Participation Of Women On Micro And Small Scale Enterprises Address Poverty In Northern Ethiopia Evidences From Adwa Aksum And Shire Towns
Glo. Adv. Res. J. Manage. Bus. Stud. May 2014 Vol: 3(5): - [Abstract] [Full Text - PDF] (0 KB)
Manelle Lahdhiri, Asma Sghaier, Nizar El Ouni
Comparative Study of the different external sources of financing for development combinations Empirical Validation
Glo. Adv. Res. J. Manage. Bus. Stud. December 2013 Vol: 2(12): - [Abstract] [Full Text - PDF] (149 KB)
Oladejo, Joana A
Profitability and Marketing Efficiency Analysis of Women Cassava Processors in Oyo State, Nigeria
Glo. Adv. Res. J. Manage. Bus. Stud. March 2017 Vol: 6(3): - [Abstract] [Full Text - PDF] (144 KB)

Current Issue

Viewing Options

View Full Article - PDF
Download Full Article - PDF

Search for Articles

James Keeley on Google Scholar
James Keeley on Pubmed
Adam Kess on Google Scholar
Adam Kess on Pubmed


Viewed 1216
Printed 334
Downloaded 800
Powered By iPortal Works