-sectional analyses corroborate our main findings. We find that the effect of government transparency is stronger for firms operating in … weaker alternative information environments. We also find a reduced effect of government transparency in countries with … World Bank-supported Open Government Data initiative as a staggered shock to government transparency provides further …

voters; (2) the magnitude of the cycle decreases with democracy, government transparency, media freedom, voter awareness, and …

magnitude of the cycle decreases with government transparency, level of regional democracy, and voter awareness; (3) cycle …