A chain is only as strong as its weakest link. When the links in the chain represent development projects, if individual projects fail to achieve their purpose, the development program's effectiveness is compromised. When the chain's links are strong and well-connected, the results are improved for the sector, country, and region. The role of multilateral banks is crucial; they inform the impac…
Quantitative models are omnipresent –but often controversially discussed– in todays risk management practice. New regulations, innovative financial products, and advances in valuation techniques provide a continuous flow of challenging problems for financial engineers and risk managers alike. Designing a sound stochastic model requires finding a careful balance between parsimonious mode…