Boom and Bust: Ecuador’s Financial Rollercoaster

The interplay between finance, politics and social conditions in 20th Century Ecuador

by Pablo R. Izurieta Andrade

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Throughout the history of Ecuador, the ambivalent evolution of major political and social events such as the stability of serving presidents, coups and even war, has coincided with changes in the financial environment. The product of careful historical study, "Boom & Bust: Ecuador’s Financial Rollercoaster" combines evidence from prior studies with original research, including data from the Central Bank of Ecuador, unpublished diplomatic papers and documents from the personal archives of relevant historical figures. A central finding is that the export performance of Ecuador's three primary commodities - cacao, bananas and oil - has significantly shaped 20th-century Ecuadorian history. Synthesis of old and new insights reveals how the state of the nation’s economy has frequently determined the outcome of critical events. All the while, the strength, immediacy and direction of the relationships examined has varied. The book would appeal to anyone with an interest in Ecuador's recent history as well as specialists and scholars of Latin American economic and political history.

List of Tables
List of Figures
List of Pictures

Chapter 1 The Liberal Era (1895-1925)
Financial Stability, Investment, Infrastructure & Reform
War and Leverage of the Ecuadorian Economy
Financial Decline and Revolution
Chapter 2 The Age of Crises (1925-1948)
The Kemmerer Mission and Institutions
Chapter 3 The Banana Republic (1948-1972)
The United Fruit Company
Reform and Infrastructure
Reverses Within Prosperity and Stability
Stabilization and the End of the Banana Economy
Chapter 4 Oil, Riches, Debts & Crises (1972-2000)
Black Gold: Oil Explodes in Ecuador
Debt, Financial Problems and Instability
Crises Develop
Stabilization, Growth, and Recommenced Havoc
Bibliography & Sources

Pablo Izurieta was born in Quito, Ecuador. After studying applied economics and finance at Universidad San Francisco in Quito, he went on to acquire degrees in Economics, Political Science, and Philosophy at the University of Pennsylvania. Following this, he earned an advanced degree at Harvard University where he focused his research in the economic and financial history of Ecuador.

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Bibliographic Information

Book Title
Boom and Bust: Ecuador’s Financial Rollercoaster
Book Subtitle
The interplay between finance, politics and social conditions in 20th Century Ecuador
Number of pages
Physical size
236mm x 160mm
23 B&W
Publication date
December 2015