Assessing financial risk management in local governments

Efficient Financial Management for Local Governments: The Nigerian Experience

This article attempts to present the local governments’ executives with a number of options to consider as they deal with the complex and ever changing questions of financial management for the local community. The paper provides local government officials quick access to a framework of ideas and suggestions that work within the hierarchy of financial management. Finance is immensely important ...

Governments Debt and Asset Management and Financial Crises : Sellers Beware

Financial Risk Measurement for Financial Risk Management∗

Current practice largely follows restrictive approaches to market risk measurement, such as historical simulation or RiskMetrics. In contrast, we propose flexible methods that exploit recent developments in financial econometrics and are likely to produce more accurate risk assessments, treating both portfoliolevel and asset-level analysis. Asset-level analysis is particularly challenging becau...

Mathematics in Financial Risk Management

The paper gives an overview of mathematical models and methods used in financial risk management; the main area of application is credit risk. A brief introduction explains the mathematical issues arising in the risk management of a portfolio of loans. The paper continues with a formal overview of credit risk management models and discusses axiomatic approaches to risk measurement. We close wit...

Dynamic Financial Risk Management

For many years, financial markets have been part of people’s everyday life. Information on the major securities can be found easily in the daily press or on internet. The different actors of the economy look closely at some fundamental parameters, such as interest rates, currency rates, stock prices..., which may affect the management of their firms, especially after the deregulation process in...