Deuda pública en Ecuador: un análisis post-keynesiano e institucional

Abstract

This study analyzes the role of public debt as an economic policy instrument in Ecuador between 2002 and 2024, within the context of dollarization, which limits the use of monetary policy. As a result, domestic and external borrowing has become a key tool to finance public spending and address fiscal crises. The objective is to examine the trajectory of public debt and assess its sustainability from a post-Keynesian perspective, which interprets it as a functional response to economic imbalances. Additionally, the study seeks to identify the contexts in which debt has stimulated economic growth. The methodology combines qualitative and quantitative approaches, using official sources such as the Ministry of Economy and Finance and the Central Bank of Ecuador. The results show a recurrent use of debt to stabilize public finances, prioritizing liquidity over structural investment. It concludes that debt viability should be measured by its capacity to promote economic growth.