02666nam 2200589 a 450 991082217930332120200520144314.01-4623-4575-11-4527-5215-X1-283-51802-31-4519-1001-09786613830470(CKB)3360000000443971(EBL)3012554(SSID)ssj0000948604(PQKBManifestationID)11531049(PQKBTitleCode)TC0000948604(PQKBWorkID)10951774(PQKB)11188511(OCoLC)535146959(MiAaPQ)EBC3012554(IMF)WPIEE2006288(EXLCZ)99336000000044397120091205d2006 uy 0engur|n|---|||||txtccrRegulatory lessons from the crisis of Costa Rica's mutual fund industry /Ana Carvajal1st ed.Washington, D.C. International Monetary Fundc20061 online resource (28 p.)IMF working paper ;WP/06/288Description based upon print version of record.1-4518-6548-1 Includes bibliographical references.""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""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.IMF working paper ;WP/06/288.Economic forecastingCosta RicaMutual fundsCosta RicaEconomic forecastingMutual fundsCarvajal Ana1680582MiAaPQMiAaPQMiAaPQBOOK9910822179303321Regulatory Lessons from the Crisis of Costa Rica’s Mutual Fund Industry4118737UNINA