Since the seminal contribution by Meese and Rogoff (1983), it is a known stylized fact that hard currencies' short-run movements can be best forecast by a random walk rather than by any model based on macro fundamentals. Emerging market currencies show features that depart significantly from...

Managing water and sanitation services involves a complex task due to the characteristics of the public goods which are involved. The large amount of capital requirements in their very specific forms creates the structure of natural monopolies which require either public operation or strong...