FinObservatory

Crisis atlas / ECU / 1929–1954

Ecuador, 1929–1954

One crisis episode: distinct crisis years merged across gaps of up to two non-crisis years. Types, source agreement, and macro context are drawn from the union of five primary chronologies.

Sovereign debtCurrency

Crisis years in this episode

Every distinct (year, type) event inside the 1929–1954 window, with the chronologies flagging it and the count of agreeing sources. Start-year sources (GMD, JST) mark only the first year, so agreement falls in the continuation years.

  1. 1929
    Sovereign debtgmd, rr2 sources
  2. 1930
    Sovereign debtrr1 source
  3. 1931
    Currencygmd, rr2 sources
    Sovereign debtrr1 source
  4. 1932
    Sovereign debtrr1 source
  5. 1933
    Sovereign debtrr1 source
  6. 1934
    Currencyrr1 source
    Sovereign debtrr1 source
  7. 1935
    Currencyrr1 source
    Sovereign debtrr1 source
  8. 1936
    Sovereign debtrr1 source
  9. 1937
    Sovereign debtrr1 source
  10. 1938
    Currencygmd, rr2 sources
    Sovereign debtrr1 source
  11. 1939
    Sovereign debtrr1 source
  12. 1940
    Sovereign debtrr1 source
  13. 1941
    Sovereign debtrr1 source
  14. 1942
    Sovereign debtrr1 source
  15. 1943
    Sovereign debtrr1 source
  16. 1944
    Sovereign debtrr1 source
  17. 1945
    Sovereign debtrr1 source
  18. 1946
    Sovereign debtrr1 source
  19. 1947
    Sovereign debtrr1 source
  20. 1948
    Sovereign debtrr1 source
  21. 1949
    Sovereign debtrr1 source
  22. 1950
    Sovereign debtrr1 source
  23. 1951
    Sovereign debtrr1 source
  24. 1952
    Sovereign debtrr1 source
  25. 1953
    Sovereign debtrr1 source
  26. 1954
    Sovereign debtrr1 source

Source: Global Macro Database 2026_06 (Müller, Xu, Lehbib & Chen 2025) | Jordà-Schularick-Taylor Macrohistory R6 | Laeven & Valencia (2020, 2026) | Reinhart-Rogoff via HBS BFFS | ECB/ESRB Financial Crises Database Methodology

Laeven-Valencia banking-crisis detail

Laeven-Valencia reports fiscal cost and output loss for systemic banking crises only. This episode involves sovereign debt and currency crises, for which no comparable cost figures exist in the source chronologies.

Macro context, 19221961

Seven years either side of the episode. Each panel has its own scale; the crisis window is shaded. Only indicators with data for Ecuador in this window are shown. Bank credit growth (year over year in total loans) is available for the 18 Jordà-Schularick-Taylor advanced economies.

Inflation (% y/y)
-250255075192219291961
Real GDP growth (% y/y)
-5051015192219291961
Policy rate (%)
0510192219291961
Govt debt (% of GDP)
0204060192219291961

Source: Global Macro Database 2026_06 (Müller, Xu, Lehbib & Chen 2025) | Jordà-Schularick-Taylor Macrohistory R6 (credit) Real GDP growth is derived as the year-over-year change in real GDP; current account and government debt are percent of GDP; policy rate is the central-bank rate; bank credit growth is the year-over-year change in JST total loans. Methodology

How each source dates this episode

The chronologies disagree on start years and durations. This table is generated from the event rows, not curated: it lists, per crisis type, which source flags which years inside the window.

Sovereign debt
  • Global Macro Database1929
  • Reinhart-Rogoff1929, 1930, 1931, 1932, 1933, 1934, 1935, 1936, 1937, 1938, 1939, 1940, 1941, 1942, 1943, 1944, 1945, 1946, 1947, 1948, 1949, 1950, 1951, 1952, 1953, 1954
Currency
  • Global Macro Database1931, 1938
  • Reinhart-Rogoff1931, 1934, 1935, 1938

Source: Global Macro Database 2026_06 (Müller, Xu, Lehbib & Chen 2025) | Jordà-Schularick-Taylor Macrohistory R6 | Laeven & Valencia (2020, 2026) | Reinhart-Rogoff via HBS BFFS | ECB/ESRB Financial Crises Database Methodology

Policy-response case studies (external)

For qualitative accounts of how authorities intervened in systemic crises, see the Yale Program on Financial Stability New Bagehot Project, a library of financial-crisis intervention case studies. It is a separate qualitative resource; no specific case is asserted to match this episode.