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The purpose of this paper is to investigate the impact of currency risks on the financial performance of multilateral banks (MBs). Financial performance is measured here by after-tax accounting profitability or losses.

Quantitative hypothesis regarding the impact of currency risks on the financial performance of MBs was tested by a two-tailed t test for significance of the b regression coefficient.

A regression analysis was done on the total currency risk and financial performance of MBs after taking into account currency risk over eight years. The analysis of variance of the regression of the b coefficient led to non-rejection of the null hypothesis of no association, F(1, 6) = 0.77, p > 0.05. The results of the two-tailed t test on the b regression coefficient suggest that the relationship between currency risk and financial performance is statistically insignificant. Therefore, it was concluded that there is no significant impact of currency risk on the financial performance of MBs.

The results of the study can be generalized only for MBs given their peculiar characteristics as wholesale banks, which are owned mainly by governments and are generally not listed on stock exchanges.

The study is of value to those interested in the multilateral banking industry. To the authors’ knowledge it is the first study providing empirical evidence on currency risk impact on MBs financial performance. The study finds that the currency risk impact on the financial performance of MBs is insignificant. The results are also useful to managers of MBs in terms of benchmarking their effectiveness in managing currency risk compared to their peers and learn from better performers. It has also policy implications in terms of justifying the current self-regulatory status, shareholder monitoring and governance of MBs as they are not significantly impacted by currency risk as it appears to be effectively managed.

The purpose of this paper is to investigate the extent to which multilateral banks (MBs) use currency derivatives (CDs) to hedge and speculate in managing currency risk. It aims to provide an empirical assessment of CDs products used by MBs as a group not studied before.

Quantitative hypothesis regarding the usage of CDs to minimize adverse impact of currency risk was tested using z test about population proportion.

The results show that MBs are using CDs in the following order of importance: currency swaps, currency forwards, currency options and currency futures primarily to hedge currency risk.

The results of the study can be generalized only for MBs, given their peculiar characteristics as wholesale banks, which are owned mainly by governments and are generally not listed in the stock exchanges.

The study is of value to those interested in the multilateral banking industry. The authors acknowledge that it is the first study providing empirical evidence on CDs’ usage by MBs as a group. The results are particularly useful to managers of MBs in terms of helping them to make choices in usage of CDs. The paper has also policy implications in terms of justifying the current self-regulatory status, shareholder monitoring and governance of MBs, as they do not speculate with CDs.

The purpose of this paper is to investigate the extent to which the size of multilateral banks (MBs) influences their usage of currency derivatives to manage currency risk. It provides an empirical assessment of whether economies of scale and scope found in other studies apply to MBs.

A quantitative hypothesis regarding the relationship of the size of MBs to their usage of currency derivatives was tested using regression, correlation and analysis of variance.

The results show that there is a significant positive relationship between size (as measured by total assets) of MBs and the total principal amounts of currency derivatives used. These results suggest that MBs are enjoying economies of scale and scope in using currency derivatives in managing currency risk.

The data used were obtained from annual reports that may not fully provide relevant information that could influence the usage and size of currency derivatives. Future studies may therefore use surveys to obtain data to conduct multivariate regression analysis to provide further insights on other determinants of currency derivatives usage.

The study is of value to those interested in multilateral banking. It breaks new ground by using non-survey method for the first time in investigating the relationship between size and currency derivatives used by MBs. The results are also useful for financial institutions selling currency derivative products to MBs in identifying which to target. For managers of small MBs it may be cost effective for them to use internal hedging techniques as economies of scale applies in currency derivative markets. The results of the study are also useful to policy and regulation of MBs.

The purpose of this paper is to highlight a selection of poetry titles from the Poets House Showcase of 2006.

This article provides reviews of selected titles from the 2006 Poets House Showcase.

This review represents a wide‐ranging selection of contemporary poetry collections and anthologies.

This list documents the tremendous range of poetry publishing from commercial, independent and university presses, as well as letterpress chapbooks, art books and CDs.

This chapter focuses on data journalism, a relatively new brand of journalistic practices that take advantage of the growing availability and application of digital data and computational tools for news production. Although this brand of journalism has been on in some advanced democracies, it is still a relatively new development in Africa, especially Nigeria. Journalists still rely mostly on eyewitness reports and interviews to write their stories, thus leading to lack of depth in media reportage of critical issues. This chapter explores the nature of data journalism conceptualised as a social science pragmatic approach to news gathering and reporting, tracing its history and inherent strengths and weaknesses. It examines the windows of opportunities it provides towards guaranteeing transparency and accountability in Nigeria's nascent democracy. It concludes that, though data journalism complements the conventional investigative reporting to enhance good governance system in Nigeria, strengthening other institutions of government such as the police, judiciary, Economic and Financial Crimes Commission (EFCC), and Independent Corrupt Practices and other related offences Commission (ICPC) becomes imperative in entrenching accountability and transparency in Nigeria.

This study aims to explore potential paradigm shift in how “global economies” react to adverse macroeconomic conditions from key dominant economies such as the US and the Chinese economies. This is done by examining how economic activities within key economies around the world react to, or are impacted by, modeled adverse macroeconomic condition emanating from the Chinese and the US economies.

To verify potential paradigm shift in how external macroeconomic uncertainty impacts “global” industrial productivity and overall gross domestic product (GDP) growth within selected economies, this study opts for seemingly unrelated regression (SUR) model. Adoption of this method has been influenced by the potential for correlated error terms between modeled adverse macroeconomic condition, industrial productivity and GDP growth variables being tested in a two-equation system.

Empirical results based on SUR analysis find no evidence of this potential paradigm shift within the time frame examined in the study. Estimated results suggest that notwithstanding the recent growth surge of the Chinese economy, macroeconomic happenings within the US economy still exert significantly more influence on key economies around the world. For instance, this study finds that macroeconomic uncertainty associated with the US economy significantly constrains both industrial productivity and overall GDP growth within most of the economies tested, whereas the same condition emanating from the Chinese economy seems to rather have a weak positive impact on the same macroeconomic variables.

Research results are strictly limited to the focus time frame for this study; it is likely that expanded data involving more years beyond what was analyzed in this study could yield different results.

This study is an original research based on data from a reputable US federal institution.

Traditional microbiological methods to monitor the growth or survival of microbes are very labour‐intensive and rather expensive and the knowledge acquired is not cumulative. Predictive microbiology as an alternative approach has been developed utilizing mathematical models to predict the microbial inactivation, survival or growth during food processing. The purpose of this paper is to review the evolutions and limitations of primary mathematical models in predictive microbiology.

Primary models deal with the variation of microbial populations against time under particular environmental and cultural conditions. According to the behaviour of micro organisms during food processing and storage, primary models can be divided into inactivation/survival models and growth models. Literature is reviewed to assess the performance of these mathematical models.

In order to predict microbial survival or growth curves, some empirical mathematical models have been used. Most of them have no or little microbiological or physiological basis, which make the interpretation of some model parameters difficult and their performances do not match observed microbiological outcomes. To produce a more accurate mathematical model, more mechanisms are necessary to interpret model parameters with a biological basis.

The paper reviews the evolution and limitations of primary mathematical models, which may help future model development.

This paper examines the sluggish adjustment of deposit interest rate categories with response to policy rate changes in a developing economy.

Symmetric and asymmetric error correction models (ECMs) are employed to test the pass-through effect and adjustment speed of deposit rates when above or below their equilibrium levels.

The findings reveal an incomplete pass-through effect in both the short run and long run while mixed results of symmetric and asymmetric adjustment speed across the different deposit rate categories are observed. Collusive pricing arrangement behavior is supported by deposit rate categories that adjust more rigidly upwards than downwards, while negative customer reaction behavior is supported by deposit rate categories that adjust more rigidly downwards than upwards.

Even though the findings indicate an aspect of increased responsiveness over the period, the sluggish adjustment of deposit rates imply that monetary policy is still ineffective and not uniform across the different deposit rate categories.

To the best of the authors' knowledge, this is the first study to empirically examine both symmetric and asymmetric adjustment behavior of deposit interest rate categories in Kenya. The findings are key to policy makers as they provide insights on how long it takes to adjust different deposit rate categories to monetary policy decisions. In addition, the behavior of deposit rates partly explains why interest rates capping was imposed in Kenya in 2016.

Indigenous farmers have, for centuries, applied practices which maintained resilient and sustainable landscapes. Thus, understanding and preserving the agricultural knowledge of Indigenous farmers may enhance the knowledge base of sustainable agriculture. The purpose of this paper is to review current research in the fields of Indigenous knowledge and sustainability to present a research approach which enables a cohesive global way forward for future research projects seeking to understand and preserve Indigenous agricultural knowledge.

This study applied thematic analysis to review 57 research studies in the field of Indigenous knowledge and sustainability. Key themes were identified from four overarching criteria: research methodology, data input, output and outcomes.

The findings revealed a range of commonalities among the 57 research studies reviewed. This study proposes the research should continue to seek to understand and preserve Indigenous knowledge, however, research needs to go beyond simply documenting Indigenous knowledge. The way forward requires research of Indigenous agricultural knowledge to establish databases, digital repositories (including oral, video, visual) and online repositories with globally shared access, whilst acknowledging and acting in partnership with Indigenous farmers and their communities.

To the best of the authors’ knowledge, this is an original study which has practical implications for enhancing research outcomes with regard to preservation of Indigenous knowledge. The findings of this study may be used to influence research policy formulation and implementation.