Cameroon and 15 other African States belonging to the Organization for the Harmonization of Business Law in Africa (OHADA) adopted the Uniform Act Organizing and Harmonizing Undertakings' Accounting Systems on March 23, 2000, which scuttled the OCAM accounting plan in favor of the new OHADA accounting system (SYSCOHADA). Companies were required to adopt SYSCOHADA for company accounts and consol...

Economic actors confront various forms of uncertainty in their decision making, and the ways in which they deal with these obstacles may affect their success in accomplishing their goals. In this paper, we examine the means by which relationship managers in a major commercial bank attempt to close transactions with their corporate customers. We hypothesize that under conditions of high uncertai...

I recognise that the central bankers represented around this table are less prone than others to these pressures. I also recognise that sometimes when central bankers ease policy amid market turmoil, there are often reasons that are not always outwardly visible at the time. With that in mind, I hope no-one assembled here takes too personally my critical look at where we have travelled in the jo...

I model the principal-agent problem in a banking context, where the agent must not only be induced to exert costly unveri…able e¤ort but also to exercise …duciary discretion in lending money on behalf of an employing bank. I show that the spread in wage outcomes necessary to induce …duciary discretion may be prohibitively expensive; instead, the bank may opt for a second-best solution where exc...

This paper considers a simple model of credit cycles driven by moral hazard in financial intermediation. Financial agents or bankers must earn moral-hazard rents, but the cost of these rents can be efficiently spread over an agent's entire career, by promising large late-career rewards if the agent has a consistently successful record. Dynamic interactions among different generations of financi...

‘Tipping points’, ‘thresholds and breakpoints’, ‘regime shifts’ — all are terms that describe the flip of a complex dynamical system from one state to another. For banking and other financial institutions, the Wall Street Crash of 1929 and the Great Depression epitomize such an event. These days, the increasingly complicated and globally interlinked financial markets are no less immune to such ...

As complex organisms, modern cities monitor their financial health and longevity, like Olympic athletes and hospital patients. The banking system encircles and ensnares people, buildings and environments defining cities, credit rating some higher, no matter their quality of life, disaster mitigation, infrastructure buffers or exposures. This paper explores technologies for smart cities to use t...