When people share risk in financial markets, intermediaries provide costly enforcement for most trades and, hence, are … an integral part of financial marketsu0092 organization. We assess the degree of risk sharing that can be achieved … allow for optimal risk sharing as long as markets are complete, default is prevented in equilibrium and intermediaries …

offers a critical evaluation of the 2011 EU ‘Strategy for Security and Development in the Sahel’. The strategy identifies the … action in the security and development domains as the way forward. As such, we take a generally positive view of the … security and development remain significantly disconnected. But ultimately, it is national caveats that pose the greatest …