Macroeconomic Determinants of the Economic Complexity Index in Ecuador

Abstract

This study seeks to identify the key variables that influence the variation and development of the Economic Complexity Index (ECI) in Ecuador, taking into account its impact on growth and competitiveness. It began with an exploratory data analysis (EDA) using line diagrams to examine the evolution and behavior of the variables over time, facilitating the identification of patterns and trends, subsequently, the Pearson correlation method is used to measure the strength and direction of the relationship between the ECI and key macroeconomic variables, thus identifying significant associations, in addition, multiple linear regression is applied to estimate the joint impact of these variables on the index, allowing determining the impact as well as the relative influence of these on the productive diversification and economic sophistication of Ecuador.