Issues in Finance and Monetary Policy

ALVARO ANGERIZ Research Associate, Centre of Economic and Public Policy, University of Cambridge, UKPHILIP ARESTIS University Director of Research, Cambridge Centre for Economics and Public Policy, Department of Land Economy, University of Cambridge, UKSANTONU BASU Senior Lecturer, Banking and Finance, Queen Mary University, London, UKEMMANUEL CARRÉ University Montesquieu-IFREDE, Bordeaux, FranceGEORGIO CHORTAREAS Reader in International Finance, University of Essex, UKPAUL DAVIDSON Editor, Journal of Post Keynesian Economics; Visiting Scholar, New York School for Social Work, USA; Emeritus Professor, University of Tennessee, USAJESUS G. GARZA GARCIA Department of Accounting, Finance, and Management, University of Essex, UKCLAUDIA GIRARDONE Lecturer in Finance, University of Essex, UKEDWIN LE HERON Maître de Conférences in Economics, Institut d'Etudes Politiques, Bordeaux, FranceAMRIT P. JUDGE Principal Lecturer in Financial Economics, Middlesex University Business School, UKKOSTAS MOURATIDIS Lecturer in Finance, University of Wales, School of Business and Economics, Swansea, Wales

• Introduction; J.McCombie & C.R.Rodriguez Strong Uncertainty and How to Cope with it to Improve Action and Capacity; P.Davidson Inflation Targeting: Assessing the Evidence; A.Angeriz & P.Arestis Transparency Versus Openness in Monetary Policy; E.Carre Dynamic Analysis of a Monetary Policy Shock on Banking Behaviour; E.Le Heron Credibility of Interest Rate Policies in Eight EMS Countries: An Application of the Markov Regime-Switching of a Bivariate Autoregressive Model; P.Arestis & K.Mouratidis Why do Firms Hedge? A Review of the Evidence; A.Judge Concentration Versus Efficiency and Financial Liberalization in Latin American Banking; G.Chortareas, J.G.G.García & C.Girardone The Role of Financial Institutions in the Context of Economic Development; S.Basu