Costa Rica: Selected Issues
March 22, 2013
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This article is a synopsis on Costa Rica’s international spillovers, potential estimates, fiscal challenges, and banking systems. Spillovers are originated by cross-country trade and financial linkages, and also by the impact of global fiscal consolidation. The banking sector has about one-third foreign bank assets, and these foreign investments are controlled by the United States. So a shock in the United States or China will have adverse effects on Costa Rica. To have a medium- and long-term sustainability, Costa Rica needs to have some fiscal adjustments.
Subject: Basel III, Financial institutions, Financial regulation and supervision, Fiscal consolidation, Fiscal policy, Foreign banks, Output gap, Production, Public debt
Keywords: bank, Basel, Basel III, bond yield, capital requirement, Central America, Costa Rica trade, Costa Rica's banking sector, Costa Rica's trade, CR, credit default swap, Europe, exposure to country, Fiscal consolidation, Five-year credit default swap, Foreign banks, Gdp, Global, III capital requirement, ISCR, Output gap, public finances, public finances to change, sovereign credit rating, supervisory authority
Pages:
24
Volume:
2013
DOI:
Issue:
080
Series:
Country Report No. 2013/080
Stock No:
1CRIEA2013002
ISBN:
9781484319413
ISSN:
1934-7685
