of transparency is inefficiently low if the social value of secondary market liquidity exceeds its private value. We … analyze various types of public intervention — mandatory transparency standards, provision of liquidity to distressed banks or … secondary market price support — and find that they have quite different welfare implications. Finally, transparency is greater …

transparency, of the media, and of political contestability for taming corruption. The existing empirical evidence is shown to …

transparency and political coherence. …

We propose a theory by which geographic variations in the transparency of the production process explain cross … geography and these institutions, we posit, is via the effect of transparency on the state's extractive capacity. We apply our …

How does increasing globalization affect corporate transparency? Freer trade represents two facets and in theory has … ambiguous effects on corporate transparency. On the one hand, by exposing firms to more product market competition, it could …, it may promote more transparency. Rather than simply estimating a net effect, this paper pursues an approach that allows …

How does transparency, a key feature of central bank design, affect the deliberation of monetary policymakers? We … (particularly Latent Dirichlet Allocation) to measure the effect of increased transparency on debate. Commentators have hypothesized … the career concerns literature uncovers evidence for both effects. However, the net effect of increased transparency …

In choosing transparency, firms must trade off the benefits from better access to finance against the cost of a greater … model’s predictions: First, investment and access to finance are positively correlated with accounting transparency …, especially in firms that depend more on external finance, and are negatively correlated with tax pressure. Second, transparency …