This paper explores the link between information flows and governance. It develops a new indicator, the transparency index, which measures the frequency with which governments update economic data that they make available to the public. The paper also uses the existence of a Freedom of...

This paper builds on recent work that shows how financial sector outcomes are affected by the provision of information by financial and other entities. In particular, it shows that an indicator of economic transparency is positively related to higher levels of private credit and a lower share of...

The author explores the link between information flows and governance or institutional quality. Economic theory expounds on the importance of information on economic outcomes either through its direct effect on prices and quantities or through its effect on other factors such as institutions and...

The author presents some general lessons in institution-building that has relevance for judiciary reform. She emphasizes the value of simplicity in design commensurate with country capacity, the importance of innovation and experimentation, and of economic openness in effective...

This paper examines the interaction between fiscal policy and the broader macroeconomic context in open economies. It asks two questions. First, what was the relationship between fiscal policy and current account balances in countries in Europe and Central Asia during the past dozen years?...

Contents of the report are: Overview : from media markets to policy; by Roumeen Islam. The media's influence on public policy decisions; by David Stromberg, and James M. Snyder Jr. National media and local political participation : the case of the New York Times; by Lisa M. George, and Joel...