Abstract and Keywords
The Oxford Handbook of Economic and Institutional Transparency studies transparency in three main economic areas: policy analysis, the corporate sector, and the institutional and regulatory structures surrounding the markets. Chapters present a conceptual framework to unify prominent notions of transparency in the literature and their link through an economy's capital formation process to investment for economic growth. The conceptual framework builds from basic notions of evaluating cost of capital and exchange efficiency to launch discussion on the costs of and gains from transparency. It also introduces the link between maximum efficiency and optimal transparency. The Handbook addresses transparency as a condition for economic efficiency in general, with an emphasis on the significance of transparency for finance and investment decisions. The basic underlying hypothesis is that increased transparency increases the efficiency of resource allocation and raises the level of potential growth. Although there are various studies of the causes and effects of structural economic differences in specific areas such as corporate governance and labor markets, this reference work will be among the first to present transparency as an overarching theme.
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