Good practices reduce costs and produce timely results; poor practices lead to waste and delays and are often the cause for allegations of corruption and Government inefficiency. Enhanced transparency in procurement through voluntary disclosure under the Right to Information (RTI) Act (2005)' is...

"The authors compare the two merger control systems currently employed worldwide: a mandatory system based on merger size threshold and a voluntary system with ex-post monitoring and fines. The voluntary system possesses two informational advantages: (i) the enforcement agency employs more...

A joint Government of Honduras and World Bank team conducted a study in Honduras between January and June 2017, using the Public-Private Partnership (PPP) Disclosure Diagnostic template recommended by the World Bank Framework for Disclosure of Information in PPPs. This study has been...

Improving debt transparency is critical for promoting debt sustainability and creditworthiness assessments, increasing the accuracy of public debt information, and protecting the interests of a diverse range of stakeholders. The importance of debt transparency, the costs associated with the lack...

The purpose of this report is to raise awareness and initiate a discussion on the need for sovereign sustainability reporting. The proposed sovereign climate and nature reporting framework would assist sovereigns looking to attract investment by enabling them to produce comprehensive, regular,...

"Microfinance has been heralded as an effective way to address imperfections in credit markets. But from a theoretical perspective, the success of microfinance contracts has puzzling elements. In particular, the group-based mechanisms often employed are vulnerable to free-riding and collusion,...

"The home equity bias is one of the many puzzles existing in international finance. This puzzle is characterized by the concentration of domestic equity in any investor's portfolio, which is in contradiction with the benchmark of full diversification in a world mutual fund. Based on Admati's...