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100   $a20020129d2006      uf         0
101 0 $aeng
135   $aur|n|---|||||
181   $ctxt
182   $cc
183   $acr
200 10$aRegulatory Lessons from the Crisis of Costa Rica?s Mutual Fund Industry /$fAna Carvajal
205   $a1st ed.
210  1$aWashington, D.C. :$cInternational Monetary Fund,$d2006.
215   $a1 online resource (28 p.)
225 1 $aIMF Working Papers
300   $aDescription based upon print version of record.
311   $a1-4518-6548-1 
320   $aIncludes bibliographical references.
327   $a""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""
330 3 $aIn 2004, the mutual fund industry of Costa Rica experienced a massive run by investors that reduced the industry to half its size in a month. This paper explores how weaknesses in the regulatory framework played a role in the crisis and draws lessons for developing countries. The analysis of events demonstrates the need for developing countries to design a multi-pillar framework for securities regulation as well as to strengthen financial literacy and capacity building. At the micro level it shows the importance of market conduct rules and the challenges that the implementation of mark-to-market poses for developing markets.
410  0$aIMF Working Papers; Working Paper ;$vNo. 2006/288
606   $aEconomic forecasting$zCosta Rica
606   $aMutual funds$zCosta Rica
606   $aBanks and Banking$2imf
606   $aFinance: General$2imf
606   $aIndustries: Financial Services$2imf
606   $aPension Funds$2imf
606   $aNon-bank Financial Institutions$2imf
606   $aFinancial Instruments$2imf
606   $aInstitutional Investors$2imf
606   $aGeneral Financial Markets: General (includes Measurement and Data)$2imf
606   $aBanks$2imf
606   $aDepository Institutions$2imf
606   $aMicro Finance Institutions$2imf
606   $aMortgages$2imf
606   $aFinance$2imf
606   $aBanking$2imf
606   $aMutual funds$2imf
606   $aSecurities markets$2imf
606   $aNonbank financial institutions$2imf
606   $aMoney markets$2imf
606   $aCapital market$2imf
606   $aFinancial services industry$2imf
606   $aMoney market$2imf
606   $aBanks and banking$2imf
607   $aCosta Rica$2imf
615  0$aEconomic forecasting
615  0$aMutual funds
615  7$aBanks and Banking
615  7$aFinance: General
615  7$aIndustries: Financial Services
615  7$aPension Funds
615  7$aNon-bank Financial Institutions
615  7$aFinancial Instruments
615  7$aInstitutional Investors
615  7$aGeneral Financial Markets: General (includes Measurement and Data)
615  7$aBanks
615  7$aDepository Institutions
615  7$aMicro Finance Institutions
615  7$aMortgages
615  7$aFinance
615  7$aBanking
615  7$aMutual funds
615  7$aSecurities markets
615  7$aNonbank financial institutions
615  7$aMoney markets
615  7$aCapital market
615  7$aFinancial services industry
615  7$aMoney market
615  7$aBanks and banking
700   $aCarvajal$b Ana$01680582
801  0$bDcWaIMF
906   $aBOOK
912   $a9910822179303321
996   $aRegulatory Lessons from the Crisis of Costa Rica?s Mutual Fund Industry$94118737
997   $aUNINA