Front Matter Page
Western Hemisphere Department
Authorized for distribution by Robert Rennhack
Contents
I. Introduction
II. Sustainability and Competitiveness Indicators
III. Estimating Costa Rica’s Equilibrium Rate: the CGER Methodology
IV. Estimating Costa Rica’s Equilibrium Rate: the FEER Methodology
V. Concluding Remarks
Figures
1. External Current Account
2a. The Cyclically-Adjusted External Current Account Balance
2b. Output Gap and Real GDP Growth
3. Export Composition
4a. External Public Debt
4b. Foreign Direct Investment
4c. Interest Payments on External Debt
5a. Net International Reserves
5b. Real Interest Rates
5c. Net International Reserves (relative to M2)
6. Savings and Investment
7a. Imports and Exports of Goods and Nonfactor Services
7b. Export Composition
8a. Export Market Shares
8b. Real Effective Exchange Rate
8c. Relative Unit Labor Costs
9a. Terms of Trade
9b. Non-oil, Nonmaquila Imports
10a. Exchange Rate Developments
10b. Consolidated Central Government Current Expenditures
11. The FEER and the REER
References