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Productive Development Policies in Costa Rica: Market Failures, Government Failures, and Policy Outcomes

  • Ricardo Monge-Gonzalez
  • Luis Rivera
  • Julio Rosales-Tijerino
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    This paper analyzes five Productive Development Policies (PDPs) implemented in Costa Rica, finding that they are not optimally addressing market failures. Moreover, government failures rather than market failures represent the main justification for PDPs. Even in the presence of market failures, the policy instruments applied are not necessarily the most economically efficient but rather the most politically feasible options. In addition, the lack of policy evaluation and monitoring prevents adjustments and corrections of such policies. Addressing the arguments for policy intervention and incorporating the results of evaluation into policy design and reform are necessary conditions for success. In spite of positive policy outcomes, limitations to enhance competitiveness and create the conditions for productivity growth are still present. An umbrella approach in the case of those PDPs that reinforce each other is necessary for productivity growth.

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    Paper provided by Inter-American Development Bank, Research Department in its series Research Department Publications with number 4657.

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    Date of creation: Mar 2010
    Date of revision:
    Handle: RePEc:idb:wpaper:4657
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    1. Francesco Caselli, 2005. "Accounting for Cross-Country Income Differences," CEP Discussion Papers dp0667, Centre for Economic Performance, LSE.
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