Costa Rica: The Next Stage-Reform without Volatility: A Report

Rodrigo Bolaños Zamora

No 1314, IDB Publications (Working Papers) from Inter-American Development Bank

Abstract: This study assesses macroeconomic volatility in Costa Rica, based largely on politically weak governments' inability or unwillingness to effect key reforms. Notable problems include volatility-prone fiscal and monetary policy, structurally weak public finances due to large domestic debts and politically motivated expenditure cycles, underdeveloped financial markets, weak financial links abroad, and risky corporate financing. The paper recommends greater fiscal discipline, financial and policy independence for the Central Bank, improvements in financial system operations, and improving financial links abroad, further discussing the interdependence among these proposals.

Keywords: volatility; domestic credit; R-437; financial market; central bank (search for similar items in EconPapers)
Date: 1999-12
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Persistent link: https://EconPapers.repec.org/RePEc:idb:brikps:1314

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