Modelos Económicos sin Banco Central: Teoría y Evidencia Empírica
Autores
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Joan Manuel Aucancela Bravo
Universidad Técnica de Manabí, Ecuador.
https://orcid.org/0009-0008-0570-4767
- Fabricio Vásquez UTM
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Claudia Alexandra Suasti López
Universidad Técnica de Manabí, Ecuador.
https://orcid.org/0000-0003-1168-6207
DOI:
https://doi.org/10.33936/eca_sinergia.v17i1.8085Palavras-chave:
Banca libre, Dolarización, Unión monetaria, Política monetaria, Estabilidad de precios.Resumo
Este artículo examina los modelos económicos que operan sin la presencia de un banco central, contrastando las perspectivas teóricas con la evidencia empírica. Se profundiza en dos paradigmas principales: la banca libre (free banking) y las uniones monetarias, con un enfoque particular en la dolarización. Se analizan los mecanismos de disciplina monetaria y fiscal inherentes a cada modelo, así como sus implicaciones para la estabilidad de precios, el crecimiento económico y la capacidad de respuesta ante shocks. La investigación se basa en una revisión exhaustiva de la literatura académica y en el estudio de casos históricos y contemporáneos, como Escocia en el siglo XIX, Panamá, Ecuador y la Eurozona. Los hallazgos sugieren que, si bien la ausencia de un banco central puede imponer una disciplina monetaria estricta, también conlleva la pérdida de flexibilidad en la política macroeconómica y la necesidad de mecanismos de ajuste alternativos que pueden ser costosos. Se concluye que la viabilidad de estos modelos depende críticamente de las condiciones estructurales de cada economía y de la voluntad política para mantener una estricta disciplina fiscal.
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Copyright (c) 2026 Joan Manuel Aucancela Bravo, Fabricio Vásquez, Claudia Alexandra Suasti López
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