Ecuador’S Economic System Renewal Towards Innovations

Ecuador’s economic system renewal towards innovations

ANALYSIS

In the economic field, Ecuador uses a model that focuses on generating wealth based on the export of raw material, such as: oil and a number of food products such as banana, crustacean or even caviar and importation of goods and goods andServices with added value, resulting in an imbalance in world market exchange. However, the current government has focused on providing a greater contribution in terms of the production generated by the knowledge society, in the field of innovation and technology in education.

According to Calderón (2015), “An economic system is visionary if among its long -term plans is the production of both goods and services, as well as the allocation of resources based on decision making to improve community well -being."

From my perspective, it is very satisfactory that it focuses on collective needs, since as we know there is an interrelation between the entire economic system, and if we want to have a higher productivity rate we must provide resources necessary for our society to have accessibility to theknowledge and thus improve our own system.

In fact, “Ecuador has chosen to renew the economic plan, but this time seeking to minimize debt in a descending trajectory, in order to generate employment, and in turn protect the poor and more vulnerable groups and once and for all end corruption." (Hidalgo, 2019).

It is good to know that the Ecuadorian government has put itself as a goal minimizing public debt, which will favor policies that will contribute to the increase in the productivity index.

However, it is known that the country enjoys a good economy that lies in the dollarization regime and a high level of oil prices being in turn considered as double -edged weapons, this can be seen in the current situation in theWhat is our country.

Contribution of us as professionals

The way in which I would contribute as a professional to the economic system of Ecuador would be based on creating and developing tools to improve the quality of national products. In large part the money leaves Ecuador as imports. And the departure of dollars is something that must be controlled because the country does not have its own currency. I also consider that it should be pointed towards technological advances since that is the future and we cannot be left behind. Do not expect other countries to believe but also to be able to do it.

CONCLUSIONS AND RECOMMENDATIONS

The Ecuadorian government has signed up for a new economic, social and inclusive model, in turn promoting the transformation of the same. It is concluded that the economic system actually reflects the relationships that exist between a group of people, it has its high and low, and sometimes the shortage forces to decide for whom production is prioritized.

It is recommended to consume ours, because we would generate employment in national industries. As well as, improving the quality of education and health spending, even more in this crisis that we are going through, in order to achieve excellent results and thus strengthen the external competitiveness of the economy.

Webography

1. Hidalgo, p. (March 21, 2019). Analysis of the new Ecuadorian economic plan. Obtained from International Monetary Fund: https: // www.IM f.org/es/news/articles/2019/03/20/Na032119-Ecuador-New-Economic-Plan-Explained
2. Calderón, á. (April 20, 2015). Economic system. Obtained from El Universo: https: // www.the universe.com/Opinion/2015/04/20/Note/4789141/System-Economic
3. Contreras, r. [Ricardo Contreras]. (October 1, 2019). What is an economic system: Case Ecuador [Video Archive]. Recovered from https: // www.Youtube.com/watch?V = CRVFF1i4ixy