Ambiguity, transparency, and institutional strength /

Ambiguity, transparency, and institutional strength /

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Bibliographic Details
Author / Creator:	Erbas, S. Nuri, author.
Imprint:	[Washington, D.C.] : International Monetary Fund, ©2004.
Description:	1 online resource (31 pages).
Language:	English
Series:	IMF working paper, 2227-8885 ; no. WP04/115 IMF working paper ; WP/04/115.
Subject:	Corporate governance -- Econometric models. Investments -- Econometric models. Rate of return -- Econometric models. Corporate governance -- Econometric models. Investments -- Econometric models. Rate of return -- Econometric models. Electronic books.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/12496054

Hidden Bibliographic Details
Other authors / contributors:	International Monetary Fund. Middle East and Central Asia Department, issuing body.
ISBN:	1282046071 9781282046078 9781451899306 1451899300 9781451853896 1451853890
ISSN:	2227-8885
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.
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.
Other form:	Print version: Erbas, S. Nuri. Ambiguity, transparency, and institutional strength. [Washington, D.C.] : International Monetary Fund, ©2004
Standard no.:	10.5089/9781451899306.001

Description
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.
Item Description:	"July 2004." At head of title: Middle East and Central Asia Department.
Physical Description:	1 online resource (31 pages).
Format:	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.
Bibliography:	Includes bibliographical references.
ISBN:	1282046071 9781282046078 9781451899306 1451899300 9781451853896 1451853890
ISSN:	2227-8885 2227-8885 ;