...ECUADOR PEST Analysis Summary Ecuador is a small country with about 15.8 million people found along the Pacific Coast of South America. The country is located between Colombia and Peru (see Exhibit 1).[1] Ecuador has a relatively long experience with democracy, but it has been marked by frequent cycles of instability. This all ended with the election of President Correa, a left-learning U.S. trained economist, in late 2006. President Correa succeeded in gathering the country to support a referendum and the Constitution was then rewritten. This referendum increased the power of the president and allowed the president to run for two consecutive terms. President Correa was then reelected in April 2009. His new term began in 2013. He is also currently attempting to change the constitution one more time to remove the limit on presidential terms so that he can run for president indefinitely.[2] Ecuador’s economy is mainly dependent on exports including petroleum, bananas, and other agricultural products. More than half of export earnings are derived from its oil resources; this providing approximately two-fifths of the government revenues. [3] Despite the significant changes in Ecuador’s standards of living, and the increase in the income of the poorest of 40% of the population in 8.8%, compared with the 5.8% of the country, there is still a lot to be done to tolerate and enlarge what has been accomplished in regards to the poverty reduction...
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...GLOBAL BUSINESS FINANCE ASSIGNMENT ECUADOR INTRODUCTION Ecuador officially the Republic of Ecuador which literally translates to the Republic of the Equator) is a representative democratic republic in South America, bordered by Colombia on the north, Peru on the east and south, and by the Pacific Ocean to the w It is one of only two countries in South America, along with Chile, that do not have a border with Brazil. The country also includes the Galápagos Islands in the Pacific, about 1,000 kilometers (620 mi) west of the mainland. Ecuador straddles the equator, from which it takes its name, and has an area of 283,561 km2, 109,415 sq ml. Its capital city is Quito, which was declared a World Heritage Site by UNESCO in the 1970s for having the best preserved and least altered historic center in Latin America. The country's largest city is Guayaquil. The historic center of Cuenca, the third largest city in the country, was also declared a World Heritage Site in 1999.. Ecuador is also home to a great variety of species, many of them endemic, like those of the Galápagos islands. This species diversity makes Ecuador one of the seventeen megadiverse countries in the world. Ecuador is a presidential republic and became independent in 1830, after having been part of the Spanish colonial empire and the republic of Gran Colombia. It is a medium-income country with an HDI score of 0.695 (2010), and...
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...the advantages and disadvantages for Ecuador if it becomes a member of the Mercado Común del Sur (Mercosur). Currently, the world is going through a change in important ways in the economy, the importance of belonging to an economic bloc is that through this you can get "mutual benefits in international trade" The Mercosur as we know is a South American economic bloc that “is integrated by Argentina, the Federative Republic of Brazil, the Republic of Paraguay, the Oriental Republic of Uruguay and the Bolivarian Republic of Venezuela” (Exhibit 1). The countries that belong to the MERCOSUR are differentiated by the alliance of values held and reflected in its democratic and pluralistic societies, the protection of human rights, the environment and sustainable development. MERCOSUR is also committed to strengthening democracy, eradicate poverty and strengthen the economic and social development of the members with equity. In recent years the President of Ecuador Econ. Rafael Correa expressed his desire to become a member of this economic bloc, but what does it mean to Ecuador to join to this organization? This economic bloc offers attractive proposals for countries; among them is the establishment of a common external tariff, plus the free movement of goods and services between the member countries. For a developing country like Ecuador, it is difficult to make the decision of belonging to an economic bloc, as it must evaluate the economic factors that affect and the conditions...
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...In this presentation, we will explore the history, culture, people and politics of the Republic of Ecuador, paying particular attention to the landmark decision by the government of Ecuador to acknowledge the rights of Mother Earth within the country’s 2008 constitution. There are over fourteen distinct indigenous groups in Ecuador, any of whom retain their pre-Columbian languages. Ecuador’s Indigenous people have struggled through centuries of conquests by the Inca, the Spanish and more recently, foreign oil, mining and pharmaceutical companies. There are numerous different groups of indigenous people in Ecuador, many with their own distinct way of living, distinct language and distinct cultural aspects. But the group that is the largest in Ecuador, and in several different parts of South America, is the Kichwa people. The Kichwa people live in both the highlands and the lowlands of Ecuador. They have had to adapt their way of life around these two different terrains. The Lowland bases its economic system around agriculture and the highland bases it around pastoral farming. The land is usually owned by the local community, which is called “Ayllu” and is either cultivated jointly or redistributed annually within the community. A distinction is made between two primary types of joint work in the community. In the case of Minka, people work together for projects of common interest, such as the construction of communal facilities. In contrast to that, Ayni is reciprocal assistance...
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...This article is a copy of the one published in New Society Magazine No.237, January-February 2012, ISSN 0251-3552, www.nuso.org A major transition for a great transformation Reflections from the Yasuní-ITT Initiative René Ramírez Gallegos1 When discussing the development of a political project from the Left there are two opposing positions or aspects: those which promote the idea of better managing and regulating capitalism – that is, striving for “good capitalism” – and those who hold anticapitalist positions. The author of this article argues that a Left that does not give up on the generation of alternatives to capitalism but at the same time is responsible for governing, should think about a “great transition” without losing sight of the horizon of a “great transformation”. This article analyzes the Yasuní-ITT Initiative and presents it as an example of how to merge concrete and innovative proposals (transition) and utopias which go beyond capitalist development (transformation). Key words: Left, Capitalism, Good Living/Sumak Kawsay, Yasuní-ITT The world does not need alternatives for development, but alternatives to development. The world does not need to “better” use capitalism, but to transform it. That is the great historical challenge that the Left should take on, both intellectually and politically. The concept of “development” has been recycled and reborn again and again for all its critics and detractors. However, in a strict sense it has never been questioned...
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...Research Data on Unemployment in Ecuador Leslie Lopez ECON 224-Macroeconomics Unit 4- Individual Project 4/14/2012 All of over the world but mostly in Latin American countries unemployment is a very harsh reality that a lot of people have to face. There are two major relationships between unemployment and the economy. One being that because there aren’t enough jobs to fill that imposes and cost on the economy because there are fewer goods and services to employee people. The second is there are fewer labor jobs and not everyone is well educated to take the administrative jobs that are available. So this cause people to take more labor job then Admin jobs which puts labor jobs in high demand. Unemployment is involuntary and cause many ill effects on the population. It cause destruction of the family life, Loss of self-esteem, insecurities of finding a new job, Increase in crime rate and high amount of school dropout rates. Studies show that unemployment impairs the physical and psychological wealth fare of humans; higher levels of alcoholism and suicide come about from this situation. The main idea and understanding of unemployment is that there are too many people that need jobs and too few jobs to employ them. But in reality when economists have realized that wages are not flexible enough to clear markets. The recession that happened in 2008-2009 has had a big impact on Ecuador which in order for them to recover they had to change their currency to...
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...Ecuador is one of the twenty-one Spanish speaking countries in the world. It is bordered by Colombia and Peru. The country's original name is Republic of Ecuador. The capitol is Quito and the main language is Spanish. The currency is the US dollar (Nations of the World a Political, Economic, and Business Handbook). The main religion is Roman Catholic which is 95 percent of the population. The national holiday is Independence Day which is on August 10th. The people grow crops such as: bananas, coffee, rice and many others. Natural resources are fish, timber, and petroleum. Japan, Russia, and China are some of Ecuador's trading partners (Infoplease). The main government official is President Rafael Correa Delgado. Rafael was elected into office...
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...Culture of Ecuador and the Glapagos Islands Meghan Lazor Ecuador is South America’s second smallest country and is regarded as one of the most geographically and ethnically diverse countries on the continent. The Galapagos Islands are part of Ecuador with a small population of only 10,000 people. Both culture-rich countries are largely uncharted, making them an exciting and adventurous place to visit. Ecuador is located in the northwest corner of South America with the Galapagos Islands to the west. The equator runs across the country which is what gave Ecuador its name. The variation in climate transfers into the lifestyle of its people causing a large range of cultures throughout the country. The diversity in geography for both countries affects how and where the country is inhabited. In Ecuador main cities can sit alone in the center of large rain forests making travel from one city to another often dangerous on roads for hours at a time. Sometimes native tribes may reside in the forests that surrounded the civilized lands. These indigenous people live in wooden shacks with no electric or running water and will occasionally walk the city streets. Ecuador can be split up into four parts, geographically; the Costa (coast), the Sierra (highlands), and El Oriente (the east; which includes the Amazonic region). The Galápagos Islands, or Archipiélago de Colón, also belong to Ecuador.(Encyclopedia, 103) The official language of Ecuador is Spanish, but fortunately in tourists...
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...The Andes form the backbone of Ecuador, Peru, Bolivia, and Chile. It is the longest unbroken mountain chain in the world, soaring higher than any range except the Himalayas in South Asia. Some of the Andes’ snowcapped peaks tower more than 20,000 feet (6,000 m) above sea level. The Andes have shaped not only the physical geography of the Andean nations, but also the economies and lifestyles of the people who make their homes in this region. The Andes stretch some 5,500 miles (8,850 km) all the way from the Caribbean Sea to the southernmost tip of South America. At places in Peru and Bolivia the mountain range is nearly 500 miles (800 km) wide. Its rocky walls divide the Andean nations into three distinct environments: coastal plain, highlands, and forest. Coastal Plain Between the mountains and the sea, a narrow plain stretches along the entire Pacific coast from Colombia to the southern end of Chile. At some points it is no more than a sandy beach at the foot of the mountains; in other places it reaches inland for 100 miles (160 km). The Atacama Desert, the driest and one of the most lifeless places on earth, occupies the coastal plain in northern Chile. Because ocean winds lose their moisture blowing across the cold waters of the Peru Current, only dry air ever reaches the land, creating a desolate wasteland. The Atacama is so dry that archaeologists have found perfectly preserved relics from ancient times. These include colored textiles woven hundreds of years ago...
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...WP/04/12 The Late 1990s Financial Crisis in Ecuador: Institutional Weaknesses, Fiscal Rigidities, and Financial Dollarization at Work Luis I. Jacome H. © 2004 International Monetary Fund WP/04/12 IMF Working Paper Monetary and Financial Systems Department The Late 1990s Financial Crisis in Ecuador: Institutional Weaknesses, Fiscal Rigidities, and Financial Dollarization at Work Prepared by Luis I. Jácome H.1 Authorized for distribution by Mark Swinburne January 2004 Abstract This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate. This paper stresses three factors that amplified the 1990s financial crisis in Ecuador, namely institutional weaknesses, rigidities in public finances, and high financial dollarization. Institutional factors restricted the government’s ability to respond in a timely manner and efficiently enough to prevent the escalation of the banking crisis and spurred the adoption of suboptimal policy decisions. Public finance rigidities limited the government’s capacity to correct existing imbalances and the deteriorating fiscal stance associated with the costs of the financial crisis. Financial dollarization increasingly reduced the effectiveness of financial ...
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...Culture of Ecuador and the Glapagos Islands Meghan Lazor Ecuador is South America’s second smallest country and is regarded as one of the most geographically and ethnically diverse countries on the continent. The Galapagos Islands are part of Ecuador with a small population of only 10,000 people. Both culture-rich countries are largely uncharted, making them an exciting and adventurous place to visit. Ecuador is located in the northwest corner of South America with the Galapagos Islands to the west. The equator runs across the country which is what gave Ecuador its name. The variation in climate transfers into the lifestyle of its people causing a large range of cultures throughout the country. The diversity in geography for both countries affects how and where the country is inhabited. In Ecuador main cities can sit alone in the center of large rain forests making travel from one city to another often dangerous on roads for hours at a time. Sometimes native tribes may reside in the forests that surrounded the civilized lands. These indigenous people live in wooden shacks with no electric or running water and will occasionally walk the city streets. Ecuador can be split up into four parts, geographically; the Costa (coast), the Sierra (highlands), and El Oriente (the east; which includes the Amazonic region). The Galápagos Islands, or Archipiélago de Colón, also belong to Ecuador.(Encyclopedia, 103) The official language of Ecuador is Spanish, but fortunately in tourists...
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...stabilization of the economy and investments also easing political crises, it helps with inflation and interest rates and devaluation risks. (About.Com) When a country adopt foreign currency it also has the disadvantages of printing their own money, it does not control its own monetary policy, it does not collect seignioirage, a profit gained from coinage, the central bank loses its role and is only able to help with emergency funds. Countries that use have dollarization In 2000 due to economical hardship and the banking system collapse, President Jamil Mahuad implemented “semi-dollarization” in turn prompted the Mahuad administration to propose officially replacing the country’s currency with the dollar. Although dollarization in Ecuador was not well received it proved to be beneficial for the economy....
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...The Ecuadorian Rose Industry snowcapped volcanoes that rise to more than 20,000 feet. The bushes are protected by 20-foot-high canopies of plastic sheeting. The combination of intense sunlight, fertile volcanic soil, an equatorial location, and high altitude makes for ideal growing conditions, allowing roses to flower almost year-round. Ecuador apparently has a comparative advantage in the production of roses. Ecuador's rose industry started some 20 years ago and has been expanding rapidly since. Ecuador is noW the world's fourth largest producer of roses. Roses are the nation's fifth largest export, with customers allover the world. Rose farms generate $240 million in sales and support tens of thousands of jobs. In Cayambe, the population has increased in 10 years from 10,000 to 70,000, primarily as a result of the rose industry. The revenues and taxes from rose growers have helped to sophisticated pave roads, build schools, and construct irrigation systems. Maria works Monday to Saturday, and earns $210 a month, which she says is an average wage in Ecuador and substantially above the country's $120 a month It is 6:20 AM, February 7, in the Ecuadorian town of Cayambe, and Maria Pacheco has just been dropped off for work by the company bus. She pulls on thick rubber gloves, wraps an apron over her white, traditional embroidered dress, and grabs her clippers, ready for another long day. Any other time of year, Maria would work until 2 PM, but it's a week before Valentine's...
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...The Ecuadorian Rose Industry snowcapped volcanoes that rise to more than 20,000 feet. The bushes are protected by 20-foot-high canopies of plastic sheeting. The combination of intense sunlight, fertile volcanic soil, an equatorial location, and high altitude makes for ideal growing conditions, allowing roses to flower almost year-round. Ecuador apparently has a comparative advantage in the production of roses. Ecuador's rose industry started some 20 years ago and has been expanding rapidly since. Ecuador is noW the world's fourth largest producer of roses. Roses are the nation's fifth largest export, with customers allover the world. Rose farms generate $240 million in sales and support tens of thousands of jobs. In Cayambe, the population has increased in 10 years from 10,000 to 70,000, primarily as a result of the rose industry. The revenues and taxes from rose growers have helped to sophisticated pave roads, build schools, and construct irrigation systems. Maria works Monday to Saturday, and earns $210 a month, which she says is an average wage in Ecuador and substantially above the country's $120 a month It is 6:20 AM, February 7, in the Ecuadorian town of Cayambe, and Maria Pacheco has just been dropped off for work by the company bus. She pulls on thick rubber gloves, wraps an apron over her white, traditional embroidered dress, and grabs her clippers, ready for another long day. Any other time of year, Maria would work until 2 PM, but it's a week before Valentine's...
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...& Advertising Company Table of Contents EXECUTIVE SUMMARY 2 Mission 3 Company Name 3 The Market 4 SITUATION ANALYSIS 4 Market Summary 4 Market Demographics 5 Target Markets 5 Market Needs 5 Market Trends 6 Market Growth 7 MACRO ENVIRONMENTAL ANALYSIS 7 Needs and Trends 7 Demographic Environment 8 Educational Groups and Technological 8 Household Patterns 9 Geographical Shifts 9 Economic Environment 9 CUSTOMER 10 COMPETITION 11 STRENGTHS, WEAKNESSES, OPPORTUNITIES AND THREATS (SWOT) 11 Strengths 11 Weaknesses 11 Opportunities 12 Threats 12 MARKET SEGMENTATION 12 PRODUCT 13 Product Features and Quality 13 1. Core Benefit: 13 2. Basic Product: 14 3. Expected Product: 14 4. Augmented Product: 14 5. Potential Product 15 Services Mix and Quality 15 PRICE 16 DISTRIBUTION 16 PROMOTION 17 PROJECTED COSTS 19 PROJECTIONS 20 CONCLUSION 20 BIBLIOGRAPHY 21 APPENDIX 22 EXECUTIVE SUMMARY WebBacan is a company dedicated to deliver information technology aligned with marketing consulting to family-businesses in Ecuador. Ecuador is one of smallest countries in South America, with an Economy based mostly on exports of primary agricultural products such as bananas, oil, shrimp, and gold. Also, the country’s industry is most entirely focused to fulfill the domestic market (Wikipedia, 2012 ). Due to the country being behind a lot of other countries in technology innovation, it has a tremendous amount of businesses that are in need of...
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