Policy Briefs

According to economic theory, risk is a central consideration in financial decision-making. In practice, though, it is difficult to quantify the uncertainty faced by investors, particularly if the aim is to present a risk measure that is consistent with economic theory, is objective and can be...

Despite its small size and limited quantities of oil reserves, South Africa has various options for improving the security of its oil supplies -- particulary at a time of fluctuating oil prices and geopolitical tension in major oil-producing regions. In "Application of a multi-criteria integrated...

When amplified levels of corruption and reduced penalties for illegal behaviour encourage greater levels of tax evasion, the policy response will exacerbate measures that constrain the functioning of private‐sector financial markets. In the ERSA working paper “Tax evasion and financial repression:...