This paper introduces and examines the implementation of the World Bank's electronic procurement initiative for the selection of consultants, which is expected to foster consistency of practice worldwide, increase transparency and competition, and minimize processing time and effort. Following...

A second-generation model of currency crises is combined with a standard model ofbanks as providers of insurance against liquidity risk. In a pegged exchange rateregime, after funds have been committed to the banks, news arrives about the qualityof the banks’ assets and about the exchange rate...