Regulatory Lessons from the Crisis of Costa Rica’s Mutual Fund Industry / Ana Carvajal.

Format:

Book

Government document

Author/Creator:

Carvajal, Ana.

Series:

IMF Working Papers; Working Paper ; No. 2006/288

IMF Working Papers

Language:

English

Subjects (All):

Economic forecasting--Costa Rica.

Economic forecasting.

Mutual funds--Costa Rica.

Mutual funds.

Physical Description:

1 online resource (28 p.)

Edition:

1st ed.

Place of Publication:

Washington, D.C. : International Monetary Fund, 2006.

Language Note:

English

Summary:

In 2004, the mutual fund industry of Costa Rica experienced a massive run by investors that reduced the industry to half its size in a month. This paper explores how weaknesses in the regulatory framework played a role in the crisis and draws lessons for developing countries. The analysis of events demonstrates the need for developing countries to design a multi-pillar framework for securities regulation as well as to strengthen financial literacy and capacity building. At the micro level it shows the importance of market conduct rules and the challenges that the implementation of mark-to-market poses for developing markets.

Contents:

""Contents""; ""I. INTRODUCTION""; ""II. THE MUTUAL FUND INDUSTRY""; ""III. THE CRISIS""; ""IV. LESSONS FROM A REGULATORY PERSPECTIVE""; ""APPENDIX I. THE STRUCTURE OF FINANCIAL REGULATION IN COSTA RICA""; ""APPENDIX II THE PRICING VECTOR DEVELOPED BY THE BOLSA NACIONAL DE VALORES""

Notes:

Description based upon print version of record.

Includes bibliographical references.

Description based on print version record.

ISBN:

9786613830470

9781462345755

1462345751

9781452752150

145275215X

9781283518024

1283518023

9781451910018

1451910010

OCLC:

535146959