This paper examines the validity of the efficient market hypothesis (EMH) for the foreign exchange market of Papua New Guinea (PNG) using data on spot exchange rates for four major foreign currencies during the recent float. The unit root test results indicate that all the four exchange rates...

This study tests weak and semi-strong form efficiency of the foreign exchange market in Sri Lanka using six bilateral foreign exchange rates during the recent float. Weak-form efficiency is examined using unit root tests while semi-strong form efficiency is tested using co- integration and...

The LoopCo Plan, which uses market mechanisms to promote competition, is the best approach to restructuring the telecommunications market, say its proponents, who object to the requirements and to-date implementation of the Telecommunications Act of l996. The local-loop's spin-off 's consumer...

The paper examines the economic and regulatory factors that led to an explosion in the wholesale power prices, supply shortages, and utility insolvencies in California’s electricity sector. A necessary first step in determining the lessons learned from the California electricity crisis is a...

The paper examines the economic and regulatory factors that led to an explosion in the wholesale power prices, supply shortages, and utility insolvencies in California’s electricity sector. A necessary first step in determining the lessons learned from the California electricity crisis is a...

In this paper we attempt to identify the characteristics of banks that are most likely to be at the origin of a banking crisis following a financial liberalization (FL) process. We do this analysis in response to the observed fact that FL processes arse often followed by banking crisis that cost...

Single-Desk Marketing: Assessing the Economic Arguments identifies the potential benefits and costs and the strengths and weakness of various arguments in favour of current single-desk arrangements. It does not attempt to quantify the costs and benefits of arrangements in any particular industry.

We use an infinitely lived agent model in which an intermediate good is provided either by a public or a private monopolist to study the effects of privatization on steady state levels of income. We allow for public sector inefficiencies(x-inefficiency) which shift down the intermediate goods...