Regulation is presumed to be designed to avoid (potential) market failures,usually because of firms' market power, the consequence of which leads to a decrease in economic welfare. However, the cost of regulation may outweigh any effects policy makers have on the firm due to administrative...

In this paper we advance the idea that optimal risk management under the Basel II Accord will typically require the use of a combination of different models of risk. This idea is illustrated by analyzing the best empirical models of risk for five stock indexes before, during, and after the...

In this paper we examine the nexus of water an energy scarcity in South Africa. The fresh water resources of the country are close to exhaustion (Business Day, 2009; Turton, 2008), yet safe drinking water is not yet universally available to all in the country – in spite of a government policy to...

Recently, an awareness is emerging in economics about the fact that important problems are not solvable algorithmically, that is, by any finite number of steps. This statement can be made mathematically exact and this paper reviews the contributions that have been made in this regard, related to...

Recently, an awareness is emerging in economics about the fact that important problems are not solvable algorithmically, that is, by any finite number of steps. This statement can be made mathematically exact and this paper reviews the contributions that have been made in this regard, related to...

An econometric model is estimated to identify determinants of trade imbalance in international message telephone services markets. Results indicate that asymmetric market structure is important in explaining bilateral market imbalances for high income country pairs. For low and high income...

The telecommunications industry is undergoing a radical transformation, creating exciting new opportunities and new challenges for infrastructure and service providers. The established value chain is increasingly being deconstructed, with the entry of powerful new players and radical...