European Parliament Library

Ambiguity, Transparency, and Institutional Strength, S. Erbas

Creator
Abstract
Institutional transparency makes future contingencies more easily predictable for investors. Greater transparency can be achieved through vertical and horizontal integration of policy rules, which may result in lower Knightian uncertainty (ambiguity). In a model based on cumulative prospect theory, for a given probability and payoff structure, expected return on investment is higher in more transparent countries; therefore, those countries attract more investment and grow faster than less transparent countries. Lower transparency may result in inherently higher volatility
Table Of Contents
""Contents""; ""I. INTRODUCTION""; ""II. INSTITUTIONAL QUALITY AND TRANSPARENCY ""; ""III. THE MODEL""; ""IV. CONCLUSIONS""; ""TECHNICAL APPENDIX PROOF OF THE THEOREM IN EQUATION (3)""; ""REFERENCES""
Language
eng
Literary Form
non fiction
Note
Description based upon print version of record
Physical Description
1 online resource (32 p.)
Specific Material Designation
remote
Form Of Item
online
Isbn
9781282046078

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