Publication:
Costa Rica : Five Years after CAFTA-DR, Assessing Early Results for the Costa Rican Economy

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dc.contributor.authorWorld Bank
dc.date.accessioned2014-09-09T20:22:44Z
dc.date.available2014-09-09T20:22:44Z
dc.date.issued2014-06-13
dc.description.abstractThe Dominican Republic - Central America - United States Free Trade Agreement (CAFTA-DR) has been fundamental in creating a stable framework for Costa Rica's trade with the United States. For Costa Rica, CAFTA-DR is more than a trade agreement. Besides eliminating tariffs and reducing non-tariff barriers between member countries, CAFTA-DR also introduced major changes to the legal framework of member countries, reducing barriers to services, promoting transparency, and ensuring a secure and predictable environment for investors. This report analyses how CAFTA-DR has impacted the Costa Rican economy in the five years after ratification, both on a macro level and in key specific sectors. The report shows that CAFTA-DR is yielding benefits to the Costa Rican economy, but it is too early to provide a complete account just after five years. The agreement has succeeded to further trade integration between Costa Rica, the US, and other CAFTA-DR countries. Exports to the US began increasing several years before the agreement, but CAFTA-DR accelerated the trend. Costa Rica continues attracting FDI above levels observed in other CAFTA-DR countries, with an increasing share from US investors and a focus on medical devices and business services. Online survey and interviews of high-tech firms in free trade zones found that CAFTA-DR was an important factor in the investment decisions. CAFTA-DR ignited an explosion of changes in the telecom and insurance sectors, bringing new regulatory frameworks, competition, product innovations, and price reductions. Consumers are reaping the benefits of improved telecom and insurance services. But some issues remain for those markets to mature. Finally, the concern regarding the potential negative impact on the Costa Rican Social Security Administration's finances due to the intellectual property rights measures have not been observed.en
dc.identifierhttp://documents.worldbank.org/curated/en/2014/06/20149229/costa-rica-five-years-after-cafta-dr-assessing-early-results-costa-rican-economy
dc.identifier.doi10.1596/20010
dc.identifier.urihttps://hdl.handle.net/10986/20010
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC
dc.rightsCC BY 3.0 IGO
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectABSORPTIVE CAPACITY
dc.subjectACCESS TO INSURANCE
dc.subjectADVERSE EFFECTS
dc.subjectAGRICULTURAL PRODUCTION
dc.subjectAGRICULTURAL PRODUCTS
dc.subjectAGRICULTURAL SECTOR
dc.subjectAGRICULTURAL SUBSIDIES
dc.subjectAGRICULTURAL TRADE
dc.subjectAGRICULTURE
dc.subjectAPPAREL
dc.subjectAPPAREL SECTOR
dc.subjectAUTHORITY IN CHARGE
dc.subjectBENCHMARK
dc.subjectBENEFICIARY
dc.subjectBILATERAL APPROACH
dc.subjectBILATERAL TRADE
dc.subjectBROKERAGE
dc.subjectBROKERAGE FIRMS
dc.subjectBROKERS
dc.subjectCENTRAL BANK
dc.subjectCLEAN TECHNOLOGY
dc.subjectCOMMERCIAL CODE
dc.subjectCOMMODITY
dc.subjectCOMMON MARKET
dc.subjectCOMMUNICATION TECHNOLOGY
dc.subjectCOMPETITION POLICY
dc.subjectCOMPETITIVE ENVIRONMENT
dc.subjectCOMPETITIVENESS
dc.subjectCONCESSIONS
dc.subjectCONSUMER PRICE INDEX
dc.subjectCONSUMER PRICE INDICES
dc.subjectCONSUMER SURPLUS
dc.subjectCONSUMERS
dc.subjectCOUNTRY OF ORIGIN
dc.subjectCRITICAL INFRASTRUCTURE
dc.subjectCROSS-BORDER TRADE
dc.subjectCURRENCY
dc.subjectCUSTOMS
dc.subjectCUSTOMS UNION
dc.subjectDEBT
dc.subjectDOMESTIC CONSUMPTION
dc.subjectDUMMY VARIABLE
dc.subjectECONOMIC CRISIS
dc.subjectECONOMIC INTEGRATION
dc.subjectECONOMIC POLICIES
dc.subjectECONOMIC STABILITY
dc.subjectECONOMIES OF SCALE
dc.subjectELIMINATION OF TARIFFS
dc.subjectENVIRONMENTAL STANDARDS
dc.subjectEUROPEAN UNION
dc.subjectEXCHANGE RATE
dc.subjectEXCHANGE RATES
dc.subjectEXPENDITURES
dc.subjectEXPENSE RATIOS
dc.subjectEXPORT GROWTH
dc.subjectEXPORT PERFORMANCE
dc.subjectEXPORT PRODUCTS
dc.subjectEXPORT SHARE
dc.subjectEXPORT STRUCTURE
dc.subjectEXPORTS
dc.subjectEXPOSURE
dc.subjectFINANCES
dc.subjectFINANCIAL CRISIS
dc.subjectFINANCIAL SERVICES
dc.subjectFINANCIAL SYSTEM
dc.subjectFIRM PERFORMANCE
dc.subjectFOREIGN COMPANIES
dc.subjectFOREIGN DIRECT INVESTMENT
dc.subjectFOREIGN INVESTMENT
dc.subjectFOREIGN INVESTORS
dc.subjectFOREIGN TRADE
dc.subjectFREE ACCESS
dc.subjectFREE TRADE
dc.subjectFREE TRADE AGREEMENT
dc.subjectFREE TRADE AGREEMENTS
dc.subjectFREE TRADE AREA
dc.subjectFREE TRADE ZONE
dc.subjectFREE TRADE ZONES
dc.subjectGDP
dc.subjectGDP PER CAPITA
dc.subjectGLOBAL ECONOMY
dc.subjectGRAVITY EQUATION
dc.subjectGRAVITY MODEL
dc.subjectGRAVITY MODELS
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectGROWTH RATES
dc.subjectHUMAN CAPITAL
dc.subjectINCOMES
dc.subjectINFORMATION SERVICES
dc.subjectINSTRUMENT
dc.subjectINSURANCE
dc.subjectINSURANCE ACTIVITIES
dc.subjectINSURANCE COMPANIES
dc.subjectINSURANCE MARKET
dc.subjectINSURANCE MARKETS
dc.subjectINSURANCE PENETRATION
dc.subjectINSURANCE PREMIUMS
dc.subjectINSURANCE PRODUCTS
dc.subjectINSURANCES
dc.subjectINSURER
dc.subjectINSURERS
dc.subjectINTEGRATION AGREEMENTS
dc.subjectINTELLECTUAL PROPERTY
dc.subjectINTELLECTUAL PROPERTY PROTECTION
dc.subjectINTELLECTUAL PROPERTY RIGHTS
dc.subjectINTERMEDIATE GOODS
dc.subjectINTERNATIONAL AGREEMENTS
dc.subjectINTERNATIONAL BANK
dc.subjectINTERNATIONAL FINANCIAL CRISIS
dc.subjectINTERNATIONAL MARKETS
dc.subjectINTERNATIONAL TRADE
dc.subjectINTERNATIONAL TREATIES
dc.subjectINVESTMENT CLIMATE
dc.subjectINVESTMENT DECISIONS
dc.subjectINVESTMENT FLOWS
dc.subjectJURISDICTIONS
dc.subjectLEGAL FRAMEWORK
dc.subjectLEGAL REGIME
dc.subjectLEGAL REQUIREMENTS
dc.subjectLEGAL SYSTEM
dc.subjectLEVEL OF RISK
dc.subjectLIBERALIZATION
dc.subjectLIBERALIZATIONS
dc.subjectLIFE INSURANCE
dc.subjectLOCAL CURRENCY
dc.subjectMANUFACTURING INDUSTRY
dc.subjectMARKET ACCESS
dc.subjectMARKET DATA
dc.subjectMARKET SHARE
dc.subjectMARKET SHARES
dc.subjectMARKET SIZE
dc.subjectMICROINSURANCE
dc.subjectMONETARY FUND
dc.subjectMONOPOLIES
dc.subjectMONOPOLY
dc.subjectMONOPOLY PROVIDER
dc.subjectMULTILATERAL AGREEMENT
dc.subjectMULTINATIONAL COMPANIES
dc.subjectNATIONAL TREATMENT
dc.subjectNEW MARKET
dc.subjectNEW PRODUCTS
dc.subjectNON-TARIFF BARRIERS
dc.subjectOPENNESS
dc.subjectOUTPUT
dc.subjectPATENT PROTECTION
dc.subjectPOLITICAL STABILITY
dc.subjectPORTFOLIO
dc.subjectPOSITIVE EFFECTS
dc.subjectPOST OFFICE
dc.subjectPREFERENTIAL TRADE
dc.subjectPREFERENTIAL TREATMENT
dc.subjectPRELIMINARY ASSESSMENT
dc.subjectPRICE DEFLATOR
dc.subjectPRIVATE INVESTMENTS
dc.subjectPROFIT MAXIMIZATION
dc.subjectPROPERTY RIGHTS
dc.subjectQUANTITATIVE RESTRICTIONS
dc.subjectREAL GDP
dc.subjectREAL GROSS DOMESTIC PRODUCT
dc.subjectREFERENDUM
dc.subjectREGIONAL TRADE
dc.subjectREGULATOR
dc.subjectREGULATORY AUTHORITY
dc.subjectREGULATORY BODY
dc.subjectREGULATORY FRAMEWORK
dc.subjectREGULATORY FRAMEWORKS
dc.subjectREINSURANCE
dc.subjectRULES OF ORIGIN
dc.subjectSHARE OF INVESTMENT
dc.subjectSMALL BUSINESS
dc.subjectSMALL BUSINESSES
dc.subjectSUPERVISORY AUTHORITY
dc.subjectTARIFF BARRIERS
dc.subjectTAX
dc.subjectTAX BENEFITS
dc.subjectTAXATION
dc.subjectTELECOMMUNICATIONS
dc.subjectTELEPHONE LINES
dc.subjectTELEPHONE SERVICES
dc.subjectTRADE BARRIERS
dc.subjectTRADE FLOWS
dc.subjectTRADE INTEGRATION
dc.subjectTRADE LIBERALIZATION
dc.subjectTRADE PARTNERS
dc.subjectTRADE PATTERNS
dc.subjectTRADE POLICY
dc.subjectTRADE RELATIONSHIPS
dc.subjectTRADING
dc.subjectTRANSPARENCY
dc.subjectTREATIES
dc.subjectTREATY
dc.subjectUNIVERSAL ACCESS
dc.subjectUNIVERSAL COVERAGE
dc.subjectVOTERS
dc.subjectWORLD DEVELOPMENT INDICATORS
dc.subjectWORLD TRADE
dc.subjectWORLD TRADE ORGANIZATION
dc.subjectWTO
dc.titleCosta Rica : Five Years after CAFTA-DR, Assessing Early Results for the Costa Rican Economyen
dspace.entity.typePublication
okr.date.disclosure2014-07-23
okr.date.doiregistration2025-05-07T10:37:32.983759Z
okr.doctypeEconomic & Sector Work::Foreign Trade, FDI, and Capital Flows Study
okr.docurlhttp://documents.worldbank.org/curated/en/2014/06/20149229/costa-rica-five-years-after-cafta-dr-assessing-early-results-costa-rican-economy
okr.globalpracticeMacroeconomics and Fiscal Management
okr.globalpracticeFinance and Markets
okr.globalpracticeGovernance
okr.globalpracticeTrade and Competitiveness
okr.globalpracticeTrade and Competitiveness
okr.guid883631468239975825
okr.guid916031468188939379
okr.identifier.externaldocumentum090224b082eda45d_2_0
okr.identifier.internaldocumentum20149229
okr.identifier.report84607
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2014/08/27/000456286_20140827104619/Rendered/PDF/846070WP0Costa0Box0385289B00PUBLIC0.pdfen
okr.region.administrativeLatin America & Caribbean
okr.region.countryCosta Rica
okr.sectorPublic Administration, Law, and Justice :: Central government administration
okr.sectorInformation and communications
okr.sectorEducation
okr.sectorEnergy and mining :: General energy sector
okr.sectorTransportation
okr.sectorIndustry and trade
okr.themeEconomic management :: Other economic management
okr.themeFinancial and private sector development :: Regulation and competition policy
okr.themeFinancial and private sector development :: Other financial and private sector development
okr.themeTrade and integration :: Export development and competitiveness
okr.themeTrade and integration :: Trade facilitation and market access
okr.topicLaw and Development::Trade Law
okr.topicInternational Economics and Trade::Free Trade
okr.topicEconomic Theory and Research
okr.topicPrivate Sector Development::Emerging Markets
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicMacroeconomics and Economic Growth
okr.unitMacro & Fiscal Mgmt - GP (GMFDR)
okr.volume1 of 1
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