INTRODUCCIÓN AL ESTUDIO DE LOS SERVICIOS FINANCIEROS DE LA BANCA PRIVADA EN ECUADOR. EFECTOS DE LAS REFORMAS REGULATORIAS DURANTE EL PERIODO 2007 A 2017

Abstract

Since the new Constitution entered into force in 2008, Ecuador's private banks have been exposed to a series of regulatory changes as part of public policy. However, the effects of these regulatory reforms on financial services have not been analyzed. This paper identifies the effects of compliance with these regulatory reforms on financial services of Ecuador's private banks during the period from 2007 to 2017. The regulatory, qualitative and quantitative aspects of financial services are reviewed in this paper. The study of the regulatory aspect identified the regulatory reforms, establishing their validity and legal effectiveness. The descriptive analysis of the qualitative and quantitative aspects of financial services shows the changes in banking related to financial services and we estimate variables such as levels of transactionality, income, elasticity and others. Finally, we conclude that the control of the tariff variable is the main effect of the regulatory reforms, managing to maintain the level of income from financial services at less than 15% of total revenues. Despite this control, it is shown that the effect on banking was not as pessimistic as initially predicted, since on the one hand the total income and number of transactions of financial services grew, between the years 2010 to 2017, 68% and 150% respectively; in addition, on the other hand, the banking continued to deploy new services and channels of attention (presence of banking in social networks and increase of ATMs, non-banking correspondents and mobile banking) among other facts that have no relation with banking regulations of services financial.