Transparency-sunshine-is often touted as a core element of the governance agenda, and one that is most important in environments with low transparency to begin with. In a provocative paper published in the American Political Science Review, Edmund Malesky, Paul Schuler, and Anh Tran present the...

There is no room for complacency, however. Corruption is not falling in all countries or all sectors, and even the most successful reformers still tend to have higher levels of firm-level corruption than in Western Europe. The burden weighs most heavily on the new private firms that are the...

These case studies complement the earlier groundbreaking work of Natural Disaster Hotspots: A Global Risk Analysis published in April 2005. Three case studies address specific hazards: landslides, storm surges and drought. An additional, three case studies address regional multi-hazard...

The report examines how courts have performed, and reveals their impact on public opinion and the business environment. It provides insight into linkages among reforms as well as linkages between reforms and public demand for a fair judiciary. The authors show that while each country presents...

Patterns in the cross-section of returns from stocks bought for vouchers in Mongolia's privatization program mirror those from developed countries. Stocks in companies with high book-to-market ratios subsequently earned returns far bigger than those in companies with low ratios, a result very...