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 …

of the state's extractive technology. We posit further that this extractive technology is determined by the transparency … transparency of the new farming technology. We then apply our theory to explain key institutional features that distinguished …

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 …

This Paper studies the incentives for transparency under different forms of corporate governance in a context of … decision on the degree of transparency in a context of product market competition. When firms seeking outside finance resort to … transparency. More transparency about a firm's competitive position has both strategic advantages and disadvantages: in general …

deposits. Transparency and bond market development can eliminate overlending problems and prevent banking crises. …

This paper studies product market competition under a strategic transparency decision. Dominant investors can influence … information collection in the financial market, and thereby corporate transparency, by affecting market liquidity or the cost of … information collection. More transparency on a firm's competitive position has both strategic advantages and disadvantages: in …