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Relationship between spending on Science and Technology and Gross Domestic Product. an empirical analysis between Latin America and the Caribbean and Ecuador

Abstract:

This document evaluates the relationship between spending on Science and Technology (S & T) and the Gross Domestic Product (GDP) between Latin America and the Caribbean, and Ecuador from 1990 to 2015. The nonstationarity of the variables was verified, obtaining a VAR model of two variables with four optimal lags - VAR2 (4) and another with five - VAR2 (5). The causality tests showed a unidirectionality on the part of S & T to GDP in Ecuador and not causal relationship in Latin America and the Caribbean.