Resilience of Foreign Direct Investment
A Case Study of Costa Rica´s IPA during the COVID-19 Pandemic
DOI:
https://doi.org/10.25120/jre.3.2.2023.4024Keywords:
Economic Resilience , Foreign Direct Investment , Investment Promotion , PandemicAbstract
Facing a world of continuous, overlapping disruptions, countries are recognizing resilience as the imperative condition for securing a sustainable and inclusive future. For developing countries, such as Costa Rica, Foreign Direct Investment (FDI) has had a positive impact specifically on economic growth, total exports, and the number of people employed. Costa Rica has undergone an important structural transformation in the last three decades, having gone from an import substitution model to a development model oriented to the promotion of exports and attraction of foreign direct investment (FDI). The efforts made to achieve greater international insertion of its economy have allowed the country to diversify its exportable offer, position itself as an attractive destination for investment in search of efficiency, and integrate its exports into global value chains.; ultimately becoming more resilient to external shocks. During the pandemic of COVID-19 Costa Rica’s Investment Promotion Agency (CINDE) reached record numbers in investment projects and job creation, the paper focuses on the years 2020-2021 and the attraction of FDI to the Costa Rica.
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