Hidden Bibliographic Details
| Other authors / contributors: | International Monetary Fund. Middle East and Central Asia Department, issuing body.
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| ISBN: | 1282046071
9781282046078
9781451899306
1451899300
9781451853896
1451853890
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| ISSN: | 2227-8885
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| Notes: | "July 2004."
At head of title: Middle East and Central Asia Department.
Includes bibliographical references.
Restrictions unspecified
Electronic reproduction. [S.l.] : HathiTrust Digital Library, 2010.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
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| Summary: | 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.
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| Other form: | Print version: Erbas, S. Nuri. Ambiguity, transparency, and institutional strength. [Washington, D.C.] : International Monetary Fund, ©2004
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| Standard no.: | 10.5089/9781451899306.001
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