The three pillars of Basel II introduce new capital ratios, new supervisory procedures, and demand better disclosure to ensure effective market discipline in both the equity and debt markets. Included in these requirements, for the first time, is the necessity for financial institutions to...

The recent debate between Dabrowski, Gomulka and Rostowski, (2001) and Stiglitz and Ellerman (2001) as to key fators determining the success or failure of policies of liberalisation and privatization, illustrates the need for a concise theoretical foundation as to how, when and where policies...

Governments are being pressured to provide better service, which is consistent, faster, and more accurate while effecting cost reductions, increasing employee morale and enhancing the business environment. This has been achieved in two ways - through Electronic Service Delivery (ESD) and through...

Regulatory failure causing financial ccrises has occurred with great frequency in the last ten years in both advanced and emerging nations. Theoreis of regulation have failed to define and describe the meanings of deregulation, the range of regulatory models and their goals, the significance of...

Analyses of the nature of debt relying on the theory of rational expectations conclude that the burden of public debt need not fall on future generations if the present generation anticipates the higher taxes needed in the future for debt servicing. However, there have been many instances where...

The most problematic of the Basel II capital adequacy requirements is the subset of Pillar I, requiring provision for Operational Risk (OR) as distinct from credit and market risk. Previous tests of the strategic effect of this new regulation from three prior Quality Impact Studies (QIS),...