Effect of the Agricultural Sector on Economic Growth: Ecuadorian Case
Abstract
The agricultural sector within the Ecuadorian economic context is one of the most influential in the country. It has played a significant role in Ecuador’s economic growth by generating income and employment opportunities. This research investigates the relevance of the agricultural sector for Ecuador’s economic growth, with the objective of analyzing the evolution and interrelationship between agricultural GDP, employment in the sector, and agricultural expenditure. The data exploration prioritizes a two-phase methodology, consisting of a descriptive study to define the characteristics of the variables, followed by the development of an econometric model using ordinary least squares estimation to assess the effects of the predictor variables on the independent variable. The main results obtained from the proposed model indicate that agricultural GDP is the only significant variable, while employment in the sector and agricultural expenditure are found to be insignificant. Furthermore, Spearman correlation analysis reveals a positive and highly significant correlation trend among the variables.
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