Series: IMF Working Papers
Author(s): Ana Carvajal
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 December 2006
Keywords: collective investment schemes, investors, mutual fund, regulatory framework, pension, Corporation and Securities Law, General Financial Markets: Government Policy and Regulation, Financial Institutions and Services: Government Policy and Regulation,
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...