“Incidencia de las cooperativas de ahorro y crédito del Segmento 5 en el desarrollo económico del Ecuador, periodo 2019-2024”

Abstract

Savings and Credit Cooperatives in Segment 5 represent the smallest entities within Ecuador’s Popular and Solidarity Financial Sector. Due to their territorial proximity, these cooperatives can facilitate access to savings and loans in rural and peri-urban areas where commercial banking has a limited presence. This study aimed to analyze the incidence of financial intermediation by Segment 5 on Ecuador’s economic development during 2019-2024. A non-experimental longitudinal design with a quantitative approach was employed. The database integrated financial information from the Superintendence of Popular and Solidarity Economy (SEPS, by its acronym in Spanish), national accounts from the Central Bank of Ecuador (BCE, by its acronym in Spanish), and labor market indicators from the National Institute of Statistics and Census (INEC, by its acronym in Spanish). Using 220 panel data observations, fixed-effects models were estimated, along with a dynamic panel model using System GMM as a robustness test. The results suggest a positive relationship between collected savings and macroeconomic performance: a 1% increase in deposits is associated with an approximate 0.31–0.34% increase in real Gross Domestic Product (GDP), while loans have a positive effect of a smaller magnitude. The labor market shows a positive impact on employment, particularly in areas with a low banking service density. Overall, the evidence supports that Segment 5 contributes to stimulating local economies; therefore, strengthening institutional sustainability is recommended by prioritizing consolidation processes that preserve territorial coverage.