Illiquidity is at the core of the various currency and banking/financial crises of the 1990s. In the wake of the Asian crisis of 1997/98 the term "systemic liquidity" has been coined to refer to adequate arrangements and practices which permit efficient liquidity management and which provide a...

The theory of exchange rate determination clearly links a depreciating currency to a deteriorating trade balance, interest differential and related economic fundamentals. Empirical testing carried out routinely confirms these relationships in “normal†times as currencies constantly...

Using the multi-product translog cost function, this paper examines the cost structure and technical change occurring within the novel Ghanaian rural banks. The results of the seemingly unrelated error components model indicate substantial unexploited economies of scale in individual products as...

This paper re-examines the theoretical aid-growth nexus by expounding on the issues relating to policies designed for aid delivery and the lack of aid recipient's state institutional capability to enforce policy conditionality. Two propositions have been demonstrated to explain why policy...

A logit model of the incidence of long-term unemployment is estimated using a random sample of completed unemployment spells in New Zealand over the period 1988-97. The regressions results are sensible, but the predictive power of the model seems to depend on the share of long-term unemployed in...