In this paper we are primarily concerned with assessing the degree of capital mobility in sub-Saharan Africa. Using the methodology as proposed by Feldstein and Horioka (1980)-later termed the "Feldstein-Horioka puzzle"-we test the hypothesis of perfect capital mobility against the alternative...

In order to address practical questions in credit portfolio management it is necessary to link the cyclical or systematic components of firm credit risk with the firm’s own idiosyncratic credit risk as well as the systematic credit risk component of every other exposure in the portfolio. This...

Active credit portfolio management is becoming a central part of capital and credit management within the banking industry. Stimulated by the Basel II capital accord the estimation of risk sensitive credit and capital management is central to success in an increasingly competitive environment....