Banco Central de Costa Rica

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Financial System

 

Title

Description

Year

JEL

Type

Analysis on the Competitiveness of Costa Rica's Financial Sector (Spanish) 

The competitiveness of intermediares constituting the National Financial System (NFS) as a whole is analyzed, while also assessing ways to promote a greater competition within the system. The degree and temporary behavior of the NFS structure is measured for the period from Jan 1995-March 2009. (SP)

2009 

G14, G20

Research Document

Market Analysis and Bank Strategies (Spanish) 

Key topics on the market structure, rivarly, business strategies, and behavior according to the theory of firm for the case of the banking industry are presented . Based on a presentation by Dr. Mariano Rojas, in the context of a seminar offered at CEMLA. (SP)

1997

L11, L12, G21

Research Document

Analysis on the Sensitivity of Commercial Banks to Macroeconomic Changes (Spanish) 

The sensitivity of bank intermediaries response is studied, considering two of the most significant risks they face -- liquidity and credit-- in the face of changes in the macroeconomic environment. Thus, vulnerability of the banking system is examined in the face of these changes.(SP)

1999

G14, G21

Research Document

General Aspects on the Implicit Protection System vis-á-vis the Deposit Insurance (Spanish) 

This document aims to analyze the advantages and disadvantages of creating a deposit insurance system vis-á-vis the implicit protection system. The feasibility of creating this system is also analyzed specifically for Costa Rica (SP)

1997

G21, G22, G28

Research Document

Private Banks: Creation of Homogeneous Groups using Traditional Criteria (Spanish) 

This document is a first attempt to identify homogeneous groups of financial entities based on the traditional ranking criteria. This is a step prior to designing and implementing a system of early warning indicators . (SP)

1998

G21

Research Document

Controling and Managing Systemic Risk, and Large Operators (Spanish) 

Measures being adopted by the international community to manage systemic risk produced by systemically important institutions are compiled and discussed here, particularly those entities that due to their size may produce harmful effects on the entire society if they go bankgrupt (SP)

2011

G10, G20, G30

Working Paper

Banking Crises: Causal Factors and Guidelines for their Adequate Prevention and Management (Spanish) 

Key macroeconomic and microeconomic factors influencing financial crises are described in this document, along with major sources of vulnerability of the local system and the more desirable characteristics of early warning indicators to help prevent a crisis in the banking sector (SP)

1998

G01, G20

Research Document

Determinantes del Margen de Intermediación en Costa Rica (SP) (Spanish) 

Factors that determine the financial intermediation margin of banks in Costa Rica for the period 1994-2011 are examined in this document. Special attention is paid to those factors that may be impacted by BCCR through monetary policy. (SP)

2011

E43, E44, G21

Research Document

Determinantes de Margen de Intermediacion Financiera 

Los elementos que inciden en el margen de intermedicación en Costa Rica se relacionan con la organización industrial, el tamaño y la evolución de algunos indicadores macroeconómicos.

2012

E43, E44, G21

Determinants of interest rate spread in Costa Rica (EN) (Spanish) 

Factors which determine the financial intermediation margin for Costa Rican banks for the period 1994-2011. (EN)

2011

E43, E44, G21

Research Document

Ethical Risk Associated with the Use of Short-Term Foreign Debt by the Financial Sector (Spanish) 

The ethical risk associated to the use of short-term external indebtedness by financial intermediaries is addressed in this document. The various factors influencing this phenomenon are analyzed with a simple economic/mathematical model are analyzed, while also proposing economic policy measures.

2011

G21, E58

Research Document

Differential between Public Debt Interest Rate and the Rates of Costa Rica's Banking System (Spanish) 

The causes of the returns differential between bank deposits, and public debt using a theoretical approach, which is also subject to empirical validation. (SP)

2003

E43, E44, G21

Research Document

Partial Dollarization in Costa Rica (Spanish) 

This document examines the magnitude, evolution and causes of a growing preference for foreign currency financial assets as store of value (asset replacement), and to a certain extent as a means of payment (cash replacement) in Costa Rica . (SP)

2003

C22, E51, G10, N26

Research Document

Is the Central Bank's Rate a Guide for the Banking System? (Spanish) 

The main purpose of this study is to examine whether there is a relationship between the interest rate reflecting the tone of the monetary policy, and the range of passive and active interest rates found in the financial market. (SP)

1999

Research Document

Assessing the Creation of a Guarantee Deposit System for the Financial System (Spanish) 

The impact that the creation of a deposit insurance system would have on net exposure of liabilities of financial intermediaries is assessed in this document. To this end, several liability coverages are estimated, and several scenarios are analyzed. (SP)

2001

G18, G22, K29

Research Document

Is Costa Rica's Banking System a Disciplined One? (Spanish) 

The main purpose of this study is to establish whether or not there is a market discipline in Costa Rica's banking system-- which may be a signifiant proof prior to the potential creation of a guarantee fund for bank deposits.(SP)

2002

E43, G21, G22

Research Document

Identifying the Degree of Competition in Costa Rica's Banking Sector (Spanish) 

The degree of competition in Costa Rica's banking industry is analyzed based on Bresnahan's model (1982), whereby information is extracted from disaggregated data so as to measure the discrepancy between the demand function and the marginal income function of the banking system. (SP)

2005

E44, G21

Research Document

Financial System 

Financial System

A Financial Stress Index for the Costa Rican Economy 

In this paper we present the Index of Financial Stress for the Costa Rican economy constructed using weakly data from 20 variables of the Costa Rican financial system. The method of aggregation used is principal components where financial stress is assumed to be the main driving force behind the co-movement observed between these variables.

2014

G10, G01, E44

Research document

Discriminant Analysis Technique: An Use in Banking (Spanish) 

A discriminant analysis is presented to determine, based on a series of indicators, whether it is possible to "discriminate" if an observation belongs to a specific group within several existing groups. Aditionally, ranking functions are estimated for new cases. (SP)

1998

C19

Research Document

Margin of financial intermediation and market power in Costa Rica (Spanish) 

Market power as a determining factor of the margin of financial intermediation for the Costa Rican banking system between 2000-2012 is examined. The study is based on a theoretical model for profit maximization for a representative bank. One of its main findings is that market power in the national banking system has been taken into consideration by entitties when they determine their interest rates.

2014

E43, E44, G21

Markets, Assets and Financial Innovation (Spanish) 

Markets and financial assets are defined and characterized in this document. Some determinants are mentioned on the rise of financial innovations, while also describing the ones thought to be more relevant, as well as their potential use in emerging markets. (SP)

1996

G10, G21

Research Document

A Technical Note on Bubbles (Spanish) 

An attempt is made to develop a simple theoretical model on the likelihood of having a price bubble. A model similar to Cagan's is used, where the solution of rational expectations does admit the possibility of a bubble . (SP)

1996

G01, G13, G21

Research Document

Organization and Strategic Behavior of Costa Rica's Banking Industry (Spanish) 

This document is mainly aimed at obtaining a diagnostic analysis on the National Banking System. The main tool was a survey on the bank population, and several aspects relating to strategy and competition were addressed. (SP)

2000

L11, L12, G21

Research Document

Early Warning Macroeconomic and Financial Indicators to Detect Banking Crises (Spanish) 

Proposed indicators and follow-up methodologies are presented in detail for macroeconomic and financial fields. A proposal is made to monitor a whole set macroeconomic indicators and a vulnerability index. Moreover, a set of 19 financial ratios of commercial banks are examined.

1999

E44, G21, G28

Research Document

Sensitivity of the National Banking Sytem's Delinquency to Liquidity Ratio (Spanish) 

The main purpose of this study is to identify some variables in the environment affecting financial indicators of delinquency and liquidity in Costa Rica's banking system, as well as to quantify their effect, and establish the backlog with which such an effect comes when faced with changes in certain environmental variables. (SP)

2001

C4, G2

Research Document

Feasibility of Deposit Insurance in Costa Rica (Spanish) 

An estimate is made to determine whether or not the explicit creation of a deposit insurance in Costa Rica is feasible. The main characteristics of this protection system are also presented.(SP)

1998

G22, G28

Research Document

 

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