<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>0120-6346</journal-id>
<journal-title><![CDATA[Semestre Económico]]></journal-title>
<abbrev-journal-title><![CDATA[Semest. Econ.]]></abbrev-journal-title>
<issn>0120-6346</issn>
<publisher>
<publisher-name><![CDATA[Universidad de Medellín]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S0120-63462017000400187</article-id>
<article-id pub-id-type="doi">10.22395/seec.v20n45a7</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[EVOLUCIÓN DE LAS COOPERATIVAS DE AHORRO Y CRÉDITO EN ECUADOR, 2000-2015]]></article-title>
<article-title xml:lang="en"><![CDATA[EVOLUTION OF CREDIT COOPERATIVE IN ECUADOR, 2000-2015]]></article-title>
<article-title xml:lang="pt"><![CDATA[EVOLUÇÃO DAS COOPERATIVAS DE POUPANÇA E CRÉDITO NO EQUADOR, 2000-2015]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Ortega-Pereira]]></surname>
<given-names><![CDATA[Jaime]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Borja-Borja]]></surname>
<given-names><![CDATA[Fernando]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Aguilar-Rodríguez]]></surname>
<given-names><![CDATA[Iliana]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Montalván-Burbano]]></surname>
<given-names><![CDATA[Robert]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universidad Tecnológica Equinoccial Facultad de Ciencias Administrativas ]]></institution>
<addr-line><![CDATA[Quito ]]></addr-line>
<country>Ecuador</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Universidad Tecnológica Equinoccial Facultad de Ciencias Administrativas ]]></institution>
<addr-line><![CDATA[Quito ]]></addr-line>
<country>Ecuador</country>
</aff>
<aff id="Af3">
<institution><![CDATA[,Universidad Tecnológica Equinoccial Facultad de Ciencias Administrativas ]]></institution>
<addr-line><![CDATA[Quito ]]></addr-line>
<country>Ecuador</country>
</aff>
<aff id="Af4">
<institution><![CDATA[,Universidad Estatal Península de Santa Elena  ]]></institution>
<addr-line><![CDATA[Ecuador ]]></addr-line>
<country>Ecuador</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>12</month>
<year>2017</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>12</month>
<year>2017</year>
</pub-date>
<volume>20</volume>
<numero>45</numero>
<fpage>187</fpage>
<lpage>216</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_arttext&amp;pid=S0120-63462017000400187&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_abstract&amp;pid=S0120-63462017000400187&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_pdf&amp;pid=S0120-63462017000400187&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[RESUMEN Este artículo evalúa la evolución de las Cooperativas de Ahorro y Crédito controladas por la Superintendencia de Economía Popular y Solidaria de Ecuador en el período 2000-2015. En la metodología se calculó un índice basado en los factores clave del negocio (cartera, captaciones y resultados) ajustados por inflación (año base 2007), cuyos resultados fueron aplicados a la teoría Fisher y comparados con la variación porcentual del Producto Interno Bruto. Del análisis se concluye que las Cooperativas de Ahorro y Crédito que forman parte del Sistema Financiero Popular y Solidario crecieron en términos reales el 18,18% lo que las convierte en las Instituciones Financieras de mejor desempeño en el Sistema Financiero Nacional. CLASIFICACIÓN JEL: G21, G29, E44]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[ASBTRACT This paper assesses the evolution of savings and credit cooperatives controlled by the Superintendence of Popular and Solidarity Economy of Ecuador in the period 2000-2015. In the methodology, an index was calculated based on the key business factors (shares, fund raising, and results) adjusted for inflation (base year 2007), whose results were applied to the Fisher theory and compared with the percentage variation of the Gross Domestic Product. The analysis concludes that the Savings and Credit Cooperatives that form part of the Popular and Solidary Financial System grew by 18.18% in real terms, making them the best performing financial institutions in the National Financial System. JEL CLASSIFICATION: G21, G29, E44]]></p></abstract>
<abstract abstract-type="short" xml:lang="pt"><p><![CDATA[RESUMO Este artigo avalia a evolução das cooperativas de poupança e crédito controladas pela Superintendência de Economia Popular e Solidária do Equador no período 2000-2015. Na metodologia, calculou-se um índice baseado nos fatores-chave do negócio (carteira, captações e resultados) ajustados por inflação (ano-base 2007), cujos resultados foram aplicados à teoria Fisher e comparados com a variação porcentual do Produto Interno Bruto. Da análise, conclui-se que as cooperativas de poupança e crédito que fazem parte do Sistema Financeiro Popular e Solidário cresceram, em termos reais, 18,18%, o que as torna as instituições financeiras de melhor desempenho no Sistema Financeiro Nacional. CLASSIFICAÇÃO JEL: G21, G29, E44]]></p></abstract>
<kwd-group>
<kwd lng="es"><![CDATA[Instituciones financieras]]></kwd>
<kwd lng="es"><![CDATA[bancos]]></kwd>
<kwd lng="es"><![CDATA[cooperativas de ahorro y crédito]]></kwd>
<kwd lng="es"><![CDATA[intermediación financiera]]></kwd>
<kwd lng="es"><![CDATA[Ecuador]]></kwd>
<kwd lng="en"><![CDATA[Financial institutions]]></kwd>
<kwd lng="en"><![CDATA[banks]]></kwd>
<kwd lng="en"><![CDATA[savings and credit cooperatives]]></kwd>
<kwd lng="en"><![CDATA[financial intermediation]]></kwd>
<kwd lng="en"><![CDATA[Ecuador]]></kwd>
<kwd lng="pt"><![CDATA[Instituições financeiras]]></kwd>
<kwd lng="pt"><![CDATA[bancos]]></kwd>
<kwd lng="pt"><![CDATA[cooperativas de poupança e crédito]]></kwd>
<kwd lng="pt"><![CDATA[intermediação financeira]]></kwd>
<kwd lng="pt"><![CDATA[Equador]]></kwd>
</kwd-group>
</article-meta>
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