Rafael Correa first term — 21st-century socialism, 2008 constitution, selective default

Doctrine — stated goals and content

Correa I launched "Revolución Ciudadana" 21st-century socialism with institutional rewrite + resource nationalism as pillars. (a) Economic school: Bolivarian heterodox-developmentalist + Keynesian counter- cyclical — 2008 Montecristi Constitution (ratified Sep 2008, 64%) placed "sumak kawsay"/buen vivir, expanded state role, made central-bank autonomy explicit-but-coordinated with Executive; selective sovereign- debt default Dec 2008 on "illegitimate" 2012 and 2030 Global bonds (~USD 3.2bn) repurchased at ~35 cents on dollar 2009; oil-contract renegotiation from production-sharing to service-contract model (Ley de Hidrocarburos reform Jul 2010); mining code Jan 2009; expanded Bono de Desarrollo Humano cash transfer; CETES + dollarization maintained (country dollarised since 2000). (b) Left-right: left; Bolivarian axis aligned with Chávez-era ALBA project. (c) Dated policies: Constitution Sep 2008, selective default Dec 2008, mining code Ene 2009, oil contract-model reform Jul 2010, 30 Sep 2010 police revolt (30S), Ley Orgánica de Comunicación Jun 2013 (media law passed in transition to second term). (d) Popularity: won Nov 2006 runoff 56.7%; approval 70s-80s peak; re- elected Apr 2009 51.9%; re-re-elected Feb 2013 57.2%; dominant political position. (e) Coherence: high — Constitution + default + oil-contract + bono expansion formed coherent Bolivarian programme under dollarization hard-money constraint; fiscal space rested on Chinese oil-loans.