This paper analyzes the causes, effects and policy alternatives associated with the recent international food price crisis in the Andean region. Additionally, the document makes a first approach to the policy options utilized to confront the crisis, discussing the mix of policies and their...

Using a large set of panel data for Ecuadorian firms, the authors analyze the role of capital market imperfections in investment decisions and investigate whether the financial reforms introduced in the 1980s in Ecuador succeeded in relaxing financial constraints. To facilitate capital...

The authors discuss two effects of financial liberalization, using panel data for Ecuadorian firms. After describing the main thrust of the reforms and the general macroeconomic developments, they document the changes that occurred in the firms'financial structure and in the allocation of...

Using a large panel of Ecuadorian firms, this paper analyzes the role of capital market imperfections for investment decisions, and investigates whether the financial reforms introduced in the 80’s have succeeded in relaxing financial constraints. The model allows both for an increase cost of...

This paper documents the maturity structure of firms` debt in Ecuador and discusses how it has been affected by government intervention in credit markets and by financial liberalization. Using firm-level panel data, we then investigate the determinants of access to long-term debt. Finally, we...

This paper documents the maturity structure of firms` debt in Ecuador and discusses how it has been affected by government intervention in credit markets and by financial liberalization. Using firm-level panel data, we then investigate the determinants of access to long-term debt. Finally, we...