In the early 1990s, many Southern African economies embarked on financial liberalisation. Although it is too soon to carry out sophisticated econometric analysis of this change in policy, the available empirical evidence may be inspected to see whether it lends support to advocates of financial...

This paper discusses the challenging question of whether central banks should use treasury bills or central bank bills for draining excess liquidity in the banking system. While recognizing that there are practical reasons for using central bank bills, the paper argues that treasury bills are...

This paper discusses the challenging question of whether central banks should use treasury bills or central bank bills for draining excess liquidity in the banking system. While recognizing that there are practical reasons for using central bank bills, the paper argues that treasury bills are...

This paper discusses the challenging question of whether central banks should use treasury bills or central bank bills for draining excess liquidity in the banking system. While recognizing that there are practical reasons for using central bank bills, the paper argues that treasury bills are...

The last 15 years have seen broad operational changes in the international system, accompanied since the beginning of the 1980s by a change in economic philosophy in a number of important industrial countries. Professor Bird examines the effects of various features of the post-Bretton Woods era...

The present arrangements for providing developing countries, and in particular the least developed countries, with international finance are inadequate in both quantitative and qualitative terms. Fundamental changes seem necessary. These changes might incorporate the establishment of a new...

The principal cause of the balance of payments deficits of the non-oil developing countries has altered since 1973: exogenous factors now play a far more important role than previously. The appropriateness of the conditions conventionally attached to IMF drawings needs to be re-examined in this...

The last 15 years have seen broad operational changes in the international system, accompanied since the beginning of the 1980s by a change in economic philosophy in a number of important industrial countries. Professor Bird examines the effects of various features of the post-Bretton Woods era...

The purpose of this paper is to explain recent changes in aid provision by examining both the economics and politics that lie behind them. Within the context of an analysis of the political economy of foreign aid, it is then possible to say whether aid fatigue is likely to persist, or whether it...