Country Role Models for Development Success: the case of Costa Rica
This chapter discusses the factors behind Costa Rica's economic growth over the last quarter of a century. It highlights the combination of three particular sets of policies. The first set of policies involves the substantial investments and unusual decisions made by Costa Rica during the twentieth century with regard to democracy, peace, education, healthcare, and the environment. The second set of policies concern the stabilization and (partial) liberalization measures undertaken after the 1980–82 debt crisis. The third set of policies is the measures aimed at opening the Costa Rican economy and, more importantly, at promoting its exports and attracting foreign direct investment (FDI). This is a policy area that has been strongly prioritized for the last quarter century with continuity and consistency.
|Keywords||Macroeconomic policies, Economic growth, Economic Development, Foreign Direct Investment|
|Publisher||Oxford University Press|
Trejos, A. (2013). Country Role Models for Development Success: the case of Costa Rica. In Fosu, A.K. (Ed.), Achieving Development Success: Strategies and Lessons from the Developing World. Oxford University Press. doi:10.1093/acprof:oso/9780199671557.003.0017