Gareth Murphy

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The views expressed in this paper are those of the authors, and are not necessarily those of the Bank of England. Contents 1 Introduction 3 1 The role of credit rating agencies in the financial system 4 1.1 What ratings represent 4 1.2 The role of CRAs in information and delegated monitoring 4 1.3 The certification role of CRA ratings 5 1.4 Hardwiring of(More)
Niger's Quality Assurance Project has improved the delivery of primary health care services and facilitated the implementation of decentralization. In the Tahoua region, a multidisciplinary Quality Improvement Team has addressed the problem of child malnutrition by arranging for children to be assessed and treated in the same day by a team of providers. (More)
The present study was designed to assess community attitudes toward physiotherapy and five other health professions (osteopathy, acupuncture, chiropractic, naturopathy, and medicine). The study surveyed 100 people chosen from the Melbourne public on the basis of a stratified sampling procedure. In general, earlier findings were confirmed in that the(More)
We explore the conflict of interest which arises in the credit ratings industry due to the current issuer-pay model. We argue that the most efficient way of aligning the incentives of rating agencies is to return to an investor-pay system. Careful analysis of the reforms currently being discussed suggests that, by themselves, they will have insufficient(More)
Structural change is a complex, intertwined phenomenon, not only because economic growth brings about complementary changes in various aspects of the economy, such as the sector compositions of output and employment, organization of industry, etc., but also these changes in turn affect the growth process. Using a simple two-sector model, we highlight some(More)
This paper presents a summary of the lessons learned from the Quality Assurance Project in monitoring quality improvements and measuring results in developing countries. The first lesson learned relates to essential data collection for key indicators while paying close attention to the validity of chosen indicators. The second lesson learned relates to(More)
We demonstrate how the introduction of liability-side feedbacks affects the properties of a quantitative model of systemic risk. The model is known as RAMSI and is still in its development phase. It is based on detailed balance sheets for UK banks and encompasses macro-credit risk, interest and non-interest income risk, network interactions, and feedback(More)
The objective of this study was to determine the perceptions of primary school children about sun exposure and skin cancer, and the language they use about these issues, as a basis for the design of health promotional materials. In all, 2857 children in five European countries took part in the study and were compared with 641 Australian children(More)
Planning for the introduction, implementation, and conduct of quality assurance activities has been the key issue from the outset of the project. Despite the various approaches to planning, no single Quality Assurance (QA) planning can be universally accepted by developing countries due to variations in the socioeconomic, cultural and political makeup of(More)