This book offers a concise but thorough analysis of the International Monetary Fund reform debate. Since the advent of the Asian financial crisis in the late 1990s, a lengthy deliberation has ensued over whether the IMF should be reformed, abolished, or left as is. The authors approach this...

Contents: Preface -- 1. Puzzles and Myths: A General Overview -- 2. Puzzles in International Finance -- 3. Puzzles in International Economics and Macroeconomics -- 4. Puzzles in Finance -- 5. The Myths of Econometrics -- 6. The Myths of Laissez Faire -- 7. The Myths of Financial Economics -- 8....

The Washington consensus : an overview -- The Washington consensus and IMF Conditionality -- The free market doctrine and economic freedom -- The first commandment : fiscal discipline -- The second commandment : redirection of public spending -- The third commandment : tax reform -- The fourth...

An increasing number of emerging and developing countries have adopted or are transitioning towards full-fledged inflation targeting (FFIT) as the main monetary policy framework to anchor inflation. In this paper, we explore the FFIT regime as a means for Mauritius to achieve stable inflation,...

This paper investigates the effect of the choice of the model used to estimate the hedge ratio on the effectiveness of futures and cross-currency hedging using data from the stock and foreign exchange markets. Four different models are used for this purpose to estimate the hedge ratio. The...

The book presents arguments against the taxpayers'-funded bailing out of failed financial institutions, and puts forward suggestions to circumvent the TBTF problem, including some preventive measures. It ultimately argues that a failing financial institution should be allowed to fail without...

This book explores the exchange rate regime choice and the role played by the exchange rate in the economy. Approaching the classification of exchange rate regimes from theoretical, practical and historical perspectives, the book discusses pertinent case studies, including the choice of exchange...

Written by an experienced academic and practitioner, Operational Risk Management fills a gap in the information available on the Basel 2 Accord and offers valuable insights into the nature of operational risk