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Costa Rican Aid

In: US Economic Development Policies towards the Pacific Rim

Author

Listed:
  • Nan Wiegersma

    (Fitchburg State College)

  • Joseph E. Medley

    (University of Southern Maine)

Abstract

In many respects Costa Rica’s economic and cultural environment differs from those in East Asia. In addition, the world market environment has been severely restrictive in the years during Costa Rica’s emergence. The past twenty years, for example, have included the debt crisis of the 1980s and structural adjustments in the 1980s and 1990s. During this period, however, Costa Rica has resisted forces that have devastated many other Latin American countries. Costa Rican growth rates have been slower than growth rates of the Asian NICs, but they were higher than most Latin American countries. Costa Rica started at a higher level of development than the Asian NICs because of the social democratic institutions and policies maintained there since the 1950s. Growth rates increased in the late 1980sand early 1990s, before falling during the mid-1990s recession.

Suggested Citation

  • Nan Wiegersma & Joseph E. Medley, 2000. "Costa Rican Aid," Palgrave Macmillan Books, in: US Economic Development Policies towards the Pacific Rim, chapter 7, pages 115-132, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-333-98386-7_7
    DOI: 10.1057/9780333983867_7
    as

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