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Achieving Development SuccessStrategies and Lessons from the Developing World$
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Augustin K. Fosu

Print publication date: 2013

Print ISBN-13: 9780199671557

Published to Oxford Scholarship Online: May 2013

DOI: 10.1093/acprof:oso/9780199671557.001.0001

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Country Role Models for Development Success: The Case of Costa Rica

Country Role Models for Development Success: The Case of Costa Rica

Chapter:
(p.360) 17 Country Role Models for Development Success: The Case of Costa Rica
Source:
Achieving Development Success
Author(s):

Alberto Trejos

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199671557.003.0017

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, liberalization, exports, foreign direct investment

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